Home›Forex›Central Banks›France flash services PMI stabilizes in July as inflat…

France flash services PMI stabilizes in July as inflation cools

France’s July services PMI rose to a 7-month high, while eased input costs and output prices lifted expectations even as private job declines and muted business optimism persisted.

Reported · Written up by our desk · Central Banks

French flash PMI data signaled a partial stabilization of the euro area’s second-largest economy in July, with the services sector rising to a 7-month high even as manufacturing stepped back, according to Forexlive.

The July flash services PMI came in at 49.8 versus 47.5 expected, after 46.8 previously, while the flash manufacturing PMI was 50.0 versus 51.0 expected, down from 51.2.

Forexlive also cited a July flash composite PMI of 49.6 versus 47.8 expected, improving from 47.2, with demand for services rising for the first time since November.

Despite the improvement, private sector employment remained under pressure and fell again, business optimism stayed subdued, and inflationary pressures eased only alongside lingering risks, including renewed US and Iran tensions that could weigh on oil and gas markets and raise the odds of further ECB tightening, Forexlive said.

More like this

Sources