France PMI Manufacturing dropped to 31.5 in April, down from 43.2. PMI Services dropped to 10.4, down from 27.4. PMI Composite dropped to 11.2, down from 28.9. All are record lows.
Eliot Kerr, Economist at IHS Markit said: “Going forward, there are two key areas of focus. Firstly, how quickly will measures be lifted as the gradual easing of restrictions begins on the 11th of May? This will give the clearest indication on how fast we can expect activity to recover in the short-term. Secondly, will the easing of restrictions lead to a second outbreak of the virus? If so, any remaining hopes of a so-called ‘V-shaped’ recovery will vanish.”
