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- France's preliminary manufacturing and services PMIs increase in May
France's preliminary manufacturing and services PMIs increase in May
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for France on Monday. France's preliminary manufacturing PMI rose to 48.3 in May from 48.0 in April. Analysts had expected the index to rise to 48.8.
The manufacturing index was driven by a slower decline in new orders and in input prices.
France's preliminary services PMI climbed to 51.8 in May from 50.6 in April. Analysts had expected the index to remain unchanged at 50.6.
The services index was driven by rises in new orders, employment and input prices.
"First-quarter GDP data showed a surprisingly punchy 0.5% expansion, but the PMIs continue to point to a more subdued trend in private sector activity midway through the second quarter," the Senior Economist at Markit Jack Kennedy said.
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