France PMI Manufacturing fell from 46.2 to 44.9 in April, below expectation of 46.9. But PMI Services rose from 48.3 to 50.5, above expectation of 49.0, an 11-month high. PMI Composite rose from 48.3 to 49.9, also an 11-month high.
Norman Liebke, an economist at Hamburg Commercial Bank, has confidently stated that the French economy is “back on track,” highlighting the significant role of the services sector in driving this recovery.
Meanwhile, inflation levels remain a concern, with elevated prices driven by higher wages along with rising energy and oil prices. Both output price inflation and input prices saw reacceleration, maintaining levels clearly above 50.
Full France PMI release here.
