Financial News: French Private Sector Moves Closer To Stabilization

French Private Sector Moves Closer To Stabilization

04/23/2024 - 05:33:00 (RTTNews)

(RTTNews) - France's private sector activity moved closer to stabilization in April on renewed expansion in the service sector, survey data from S&P Global showed on Tuesday.

The flash HCOB composite output index hit an 11-month high of 49.9 from 48.3 in the previous month.

The score signaled a broad stabilization of business activity across the private sector economy.

While services activity expanded for the first time since May 2023, the accelerated decline in manufacturing output weighed on the pace of overall expansion. The services Purchasing Managers' Index registered 50.5, which was the highest score in eleven months. The score was forecast to climb to 48.9 from 48.3 in February. By contrast, the manufacturing PMI dropped to a three-month low of 44.9 from 46.2 a month ago. The expected score was 46.9.

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