France PMI July 2019


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.

FocusEconomics Consensus Forecast panelists see fixed investment growing 2.3% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel sees fixed investment growth at 2.0%.

Author:, Economist

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France PMI Chart

France PMI July 2019 1

Note: Markit Purchasing Managers’ Index (PMI). A reading above 50.0 points indicates an expansion in business activity, while a value below 50.0 points indicates a contraction.
Source: Markit.

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