France: Private-sector activity growth eases in July
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) fell to 51.7 points in July, down from 52.7 points in June and pointing to a slowdown in private sector activity.
June’s downtick reflected a fall in manufacturing output and slower growth of service-sector activities. Moreover, new orders growth moderated, while export orders remained broadly stagnant. On a brighter note, although the rate of employment creation eased in July, it remained solid nonetheless thanks to the services sector. Meanwhile, input price inflation softened and reached its lowest point in two years, while output prices rose only slightly. Lastly, business sentiment rose from a month prior.