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Financial News: France Composite PMI At 6-Month High

France Composite PMI At 6-Month High

05/23/2019 - 05:35:00 (RTTNews)

(RTTNews) - France's private sector activity expanded at the fastest pace in six months in May, flash survey data from IHS Markit showed Thursday.

Another monthly survey from the statistical office Insee showed that manufacturing confidence also improved to a 6-month high in May.

The flash composite output index rose more-than-expected to 51.3 in May from 50.1 in April. The score was forecast to rise to 50.3. Both manufacturing and service sectors posted faster growth.

The service sector logged its quickest expansion since last November. Meanwhile, manufacturers saw another fall in production, although the rate of decline eased and was only fractional overall.

The services PMI climbed to 51.7 from 50.5 in the previous month. The expected reading was 50.8.

At the same time, the manufacturing Purchasing Managers' Index came in at 50.6 in May, up from 50.0 in April but below the forecast of 50.8.

Data from Insee showed that the manufacturing confidence index improved to 104 in May from 101 in April. This was the highest score since November 2018.

Industrialists were much more optimistic on their personal production expectations than in the previous month. The corresponding score rose to 13 from 6.

Industrialists were also more optimistic about the general production prospects for the sector as a whole. The indicator came in at 4 versus -2 in April.

The survey showed that overall business climate index held steady at 106 in May.

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