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Financial News: France Private Sector Growth Accelerates In April

France Private Sector Growth Accelerates In April

04/23/2018 - 03:24:00 (RTTNews)

(RTTNews) - France's private sector activity expanded at a faster pace in April, flash survey data from IHS Markit showed Monday.

The composite output index rose to 56.9 in April from 56.3 in March. The expected reading was 55.9. A score above 50 indicates expansion in the private sector.

The acceleration in overall growth was indicative of sharp rates of expansion in both the manufacturing and services sectors.

The services Purchasing Managers' Index climbed unexpectedly to 57.4 from 56.9 a month ago. The reading was forecast to fall to 56.5.

Meanwhile, the manufacturing PMI dropped slightly to 53.4 from 53.7 in the previous month. Economists had forecast the index to ease to 53.5.

"After having shown signs of slowing in recent months, the data will buoy hopes that the renaissance in the French economy has far from run its course," Alex Gill, an economist at IHS Markit said.

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