France: Private-sector activity growth moderates in July
August 5, 2019
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) inched down to 51.9 points in July, from 52.7 points in June, and remained above the 50-point threshold that separates expansion from contraction in business conditions.
July’s print reflected divergent trends across the two sectors covered. Services reported a solid rise in output and new orders, while the rate of job creation in the sector rose at a nine-month high. On the other hand, in the manufacturing sector, output returned to contraction, while new orders drop marginally in July. In addition, staffing levels in manufacturing decreased for the first time this year. All said, overall business sentiment picked up, after having sank to a 34-month low in June.
Author: Nicolás J. Aguilar, Economist