Prior 50.1Manufacturing PMI 42.1 vs 44.4 expectedPrior 44.0Composite PMI 52.7 vs 49.1 expectedPrior 49.1The headline reading is a 27-month high and that lifts the French economy to post its best performance in terms of business activity since March last year. The big caveat here though is that the services sector is largely boosted by the Paris Olympics. While overall activity was better, there were declines to employment and also output expectations. So, it is likely to be a one-off. HCOB notes that:“The French economy will likely grow 0.5% in the third quarter. The HCOB France Flash PMI for August indicates an improvement in economic conditions, with the Composite PMI jumping over three in
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