Wed, Jan 20, 2021 @ 07:24 GMT
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France PMIs showed renewed slowdown

France PMI manufacturing rose to 55.1 in May, up from 53.8 and beat expectation of 53.7, hitting 3 month high.

But PMI services dropped to 54.3, down from 57.4 and missed expectation of 57.2, hitting 16- month low.

PMI composite dropped to 54.5, down from 56.9, hitting a 16 month low.

Markit noted that the data in May signalled a “renewed slowdown in French private sector output growth”.

Comments from Alex Gill, Economist at IHS Markit:

“Having showed signs of resilience in April, May saw a renewed slowdown in French private sector growth. Moreover, the headline composite output index signalled the weakest rate of expansion for almost a year-and-a-half, indicating that the French private sector’s economic revival is losing further steam in the second quarter.

“On a brighter note, the data highlighted a better month for the manufacturing sector, with rates of expansion accelerating on a number of key metrics, including output, new orders and employment.”

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