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Financial News: France Private Sector Growth Weakens In July

France Private Sector Growth Weakens In July

07/24/2019 - 03:47:00 (RTTNews)

(RTTNews) - France's private sector grew at a slower pace in July, survey results from IHS Markit showed Wednesday.

The flash composite output index fell to 51.7 in July from 52.7 in June. The score was forecast to drop to 52.5.

Moderate growth was driven by the service sector, while manufacturing output slipped back into contraction territory.

The services Purchasing Managers' Index came in at 52.2 in July, down from 52.9 a month ago. Economists had forecast the indicator to drop to 52.8.

At the same time, the factory PMI declined to the neutral 50.0 from 51.9 in the previous month. The expected score was 51.6.

Softer growth in July dents hopes of a swift recovery to the long-run rate, which were beginning to materialize after June's solid performance, Eliot Kerr, an economist at IHS Markit said.

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