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French Growth Slows But Manufacturing Hits Six Year High

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France’s private-sector economy slowed in July as the best manufacturing numbers in more than six years couldn’t compensate for a weakening in services.

A composite Purchasing Managers’ Index fell to 55.7 from 56.6 in June, IHS Markit Economics said Monday. That’s worse than the 56.4 predicted by economists in a Bloomberg survey. While service growth retreated more than forecast, manufacturing unexpectedly increased, and all readings were well above the 50 mark the separates expansion from contraction.

Bloomberg

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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