France PMI Manufacturing dropped from 59.0 to 58.1, below expectation of 58.3. PMI Services dropped from 57.8 to 57.0, below expectation of 59.0. PMI Composite dropped from 57.4 to 56.8.
Joe Hayes, Senior Economist at IHS Markit said: “It’s perhaps slightly disappointing to see the headline composite output figure dip slightly in July, but as the French economy normalises to a state of looser lockdown restrictions, it is not so much of a surprise. Regardless, the PMI pointed to another strong month-on-month rate of output growth, with service providers outperforming their manufacturing counterparts once again.”