France’s composite PMI climbed to 49.6 in July, marking the slowest contraction since February amid a services sector uptick.
France’s S&P Global Flash Composite PMI increased to 49.6 in July from 47.2 in June, indicating the mildest economic contraction since the Middle East conflict began in February. The improvement was driven by a rebound in the services sector, which reached a seven-month high.
The prior month’s reading of 47.2 had signaled a sharper downturn, with services activity lagging. Analysts had anticipated a modest recovery, though the composite index remains below the 50 threshold that separates expansion from contraction.
The data suggests a potential stabilization in France’s economy, though persistent weakness in manufacturing continues to weigh on overall growth.