France PMI Manufacturing rose to 58.8 in march, up from 56.1, above expectation of 56.1. That’s also the highest level in 39 months. PMI Services rose to 47.8, up from 45.6, above expectation of 45.5. PMI Composite rose to 49.5, up from 47.0.
Eliot Kerr, Economist at IHS Markit said: “Activity trended towards stabilisation, reversing the downward momentum seen in January and February.. That said, there remain ongoing challenges related to the pandemic. Firstly, raw material shortages continued to drive costs sharply higher, which may act as a squeeze on profit margins until the recovery in demand conditions gathers pace. Secondly, the threat of setbacks to the reopening of the economy remains tangible. The recent re-introduction of lockdown restrictions in Paris serves as a reminder that the road to recovery may still be a bumpy one.”