Francia Pmi Composite

The HCOB France Composite PMI rose to 49.5 in July 2024, up from 48.8 in June and above market forecasts of 48.9, preliminary estimates showed. This was indicative that the French private sector is nearing stabilization, with the services sector returning to growth (50.7 vs 48.8), while the manufacturing sector remained subdued (44.1 vs 45.3). Business activity rose for the first time since April for service companies, but was slightly offset by the sharp contraction from manufacturers. Also, new orders fell for both manufacturing and service companies, but the latter falling considerably slower than in June. Despite this, the latest data revealed another month of job creation, marking six straight months of employment growth, but was confined solely to the service sector. On prices, cost pressures intensified across France, pushing input and output prices to accelerate. Finally, business confidence fell for the fourth consecutive month, reaching its lowest level of the year.