Forex and other markets news
5.04.2023, 20:57
French service sector expands
French service sector expands
S&P Global revealed that The final French services purchasing managers' index (PMI) came in at 53.9 in March, up from February's 53.1, but below the March preliminary figure of 55.5.
The PMI index is above 50, indicating an expansion in the French business sector.
S&P senior economist Joe Hayes said: "The March PMI results could be concluded as a relatively positive first quarter of 2023 for the French economy. Although industrial output continues to decline. But a two-month strong rise in service activity in February and March is a good sign for economic growth in the first quarter.”
"However, it remains to be seen whether the recent social unrest across the country will have any significant impact."
The final PMI for France's manufacturing and services rose to 52.7 in March from 51.7 in February, but below the March preliminary figure of 54.0.
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