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Financial News: France Private Sector Growth At 7-Month High

France Private Sector Growth At 7-Month High

06/21/2019 - 03:44:00 (RTTNews)

(RTTNews) - France's private sector grew at the fastest pace in seven months in June, flash survey data from IHS Markit showed Friday.

The composite output index rose more-than-expected to 52.9 in June from 51.2 in May. A score above 50 indicates expansion. The reading was forecast to rise slightly to 51.3.

The solid expansion was driven by both the manufacturing and service sectors.

The services Purchasing Managers' Index improved to 53.1 in June from 51.5 a month ago. The expected score was 51.6.

At 52.0, the manufacturing PMI hit a 9-month high. Economists had forecast the reading to rise marginally to 50.9 from 50.6 in May.

Taking into account the strong finish to the quarter, PMI data now points to around 0.3 percent sequential growth, Eliot Kerr, an economist at IHS Markit said.

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