Home/FX/Newsfeed

French PMI Contraction Continues Divergence With Germany

Share Print 0

French business activity contracted further in June while Germany’s private sector continued to expand, further highlighting the divergence between the euro zone’s two largest economies.

In France, both the services and manufacturing sectors registered a slowdown amid weaker orders. Output and new orders in Germany remained strong.

The composite PMI for France, which includes the manufacturing and services sectors, fell to 48.0 from 49.3 in May. A figure below 50 signals contraction. The German composite index came in at 24.2, against 55.6 in May.

“The euro zone is still incredibly reliant on Germany,” Jeremy Stretch, head of FX Strategy at CIBC told CNBC.

via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top