FOREX TradingCharts.com

Financial News: France Private Sector Contraction Deepens In June

France Private Sector Contraction Deepens In June

06/21/2024 - 03:50:00 (RTTNews)

(RTTNews) - France's private sector contracted the most in four months in June on renewed decrease in new orders, flash survey results from S&P Global showed Friday.

The headline HCOB flash composite output index fell unexpectedly to 48.2 in June from 48.9 in May. The score was seen at 49.5.

The score signaled a moderate but accelerated contraction in private sector activity. Sharper rates of decline were seen in both manufacturing and services in June, though the contraction was more pronounced at goods producers.

The flash services Purchasing Managers' Index posted 48.8, down from 49.3 in the prior month. The reading was expected to rise to 50.0.

The manufacturing PMI slid to 45.3 from 46.4 in April. The expected reading was 46.8. Fewer client numbers as well as a fall in the level of incoming new business weighed on activity. The fall in incoming new business was the biggest since January.

With intakes of new work falling, companies channeled more resources towards clearing backlogs. The rate of depletion in outstanding business was the fastest in five months.

Employment continued to increase in June despite deteriorating demand environment. However, the rate of job creation was the weakest since March.

Business confidence fell to its lowest since the start of the year as companies expressed uncertainty towards the upcoming election result and broad geopolitical risks. Further, the survey showed that input price inflation at the composite level was unchanged from May's 38-month low.

Prices charged for goods and services increased at a markedly softer pace in June with the rate slowing to its weakest since February 2021.

HCOB Economist Norman Liebke said the French economy likely grew 0.1 percent in the second quarter.

"For the third and fourth quarter, we expect a GDP boost from the Olympics taking place in July and August in France," Liebke added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysia Economy Expands At Fastest Pace Since Late 2022 (12 hr(s), 09 min(s), 59 sec(s) ago)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story»

Eurozone Inflation Expectations Remain Unchanged (12 hr(s), 37 min(s), 59 sec(s) ago)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story»

Philly Fed Index Jumps Much More Than Expected In July (13 hr(s), 12 min(s), 59 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Philly Fed Index Indicates More Widespread Growth In July (13 hr(s), 12 min(s), 59 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Italy Current Account Surplus Rises In May (14 hr(s), 06 min(s), 59 sec(s) ago)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story»

UK Government Borrowings Overshoot Estimate (14 hr(s), 37 min(s), 59 sec(s) ago)
(RTTNews) - The bigger-than-expected UK public sector net borrowing in June highlights the challen ...Full Story»

Eurozone Current Account Surplus Remains Unchanged (15 hr(s), 45 min(s), 59 sec(s) ago)
(RTTNews) - The euro area current account surplus remained unchanged in May, the European Central ...Full Story»

Spain Trade Gap Narrows In May (15 hr(s), 54 min(s), 59 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased in May from a year ago as exports rose ami ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysia Economy Expands At Fastest Pace Since Late 2022

07/19/2024 - 08:54 AM (RTTNews)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story>>

Eurozone Inflation Expectations Remain Unchanged

07/19/2024 - 08:26 AM (RTTNews)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story>>

Philly Fed Index Indicates More Widespread Growth In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Philly Fed Index Jumps Much More Than Expected In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Italy Current Account Surplus Rises In May

07/19/2024 - 06:57 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.