France Markit services PMI Aug final 5 Sept
- 52.0 flash
- composite 51.9 vs 51.6 exp/flash
Better final readings.
Says Markit:
- French service providers reported a pick-up in growth of business activity during August. The improvement was underpinned by a faster rise in incoming new work. Outstanding business increased, albeit at a slower pace, but companies nevertheless trimmed their staffing levels. Input cost inflation eased to near-stagnation, while prices charged fell at an accelerated rate.
- Business expectations meanwhile dipped to the lowest in 2016 so far. The seasonally adjusted headline Markit France Business Activity Index - which is based on a single question asking respondents to report on the actual change in business activity at their companies compared with one month ago - climbed to 52.3 in August. Up from 50.5 in July, the latest reading was the highest since October 2015, although signalled a moderate rate of expansion in activity overall.
- The index remained below its historical average of 54.6 since the start of data collection in May 1998. The final seasonally adjusted Markit France Composite Output Index - which covers the combined manufacturing and service sectors - posted 51.9 in August, up from 50.1 in July. That was its highest level since October 2015, albeit indicative of a moderate rate of expansion.
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