France PMI manufacturing dropped to sharply to 53.6 in March, down from 55.9 and missed expectation of 55.6.
France PMI services dropped to 56.8, down from 57.4 and missed expectation of 57.0.
Markit titled the release as “Private sector growth softens again, but remains marked“.
Quote from the release by Alex Gill, Economist at IHS Markit:
“Growth slowed in the French private sector economy during March, with the headline composite output figure down for the second successive month. At 56.2, however, the rate of expansion remained elevated by historical levels, while the Q1 average of 57.7 is consistent with a robust GDP number.
“Strong client demand in both domestic and foreign markets continues to support output and employment. Meanwhile, a further robust degree of business confidence combined with a sharp and accelerated accumulation of outstanding business suggests further growth in the coming months.”
