In June, France PMI Manufacturing rose notably to 52.0, up from 50.6 and beat expectation of 50.9. That’s also the highest level in 9 months. PMI Services rose to 53.1, up from 51.5 and beat expectation of 51.6. It’s the highest level in 7 month. PMI Composite rose to 52.9, up from 51.2, a 7-month high.
Commenting on the Flash PMI data, Eliot Kerr, Economist at IHS Markit said:
“The French private sector maintained upward momentum at the end of the second quarter, recording a third successive monthly rise in business activity. Moreover, the rate of expansion accelerated for the second month in a row, reaching the quickest since last November. Taking into account the strong finish to the quarter, PMI data now points to around 0.3% QoQ GDP growth.
“The latest data also revealed a further improvement in labour market conditions, with staff numbers rising at the fastest rate for eight months. Service providers continued to record solid employment growth, while manufacturers recorded their sharpest workforce expansion for almost a year.”
