Forex and other markets news
23.05.2023, 15:46
France PMI slows growth
France PMI slows growth
French business activity grew at the slowest pace in four months in May. This is due to the continuous contraction of the manufacturing sector and slower growth in the service sector.
The Purchasing Managers Index (PMI) in the primary service sector from Hamburg The Commercial Bank (HCOB) was 52.8 in May, down from 54.6 in April and below analysts' expectations of 54.0.
However, the May services PMI remained above 50, indicating an expansion in business activity. But numbers below 50 indicate contraction.
While the PMI for the primary manufacturing sector contracted in May. but higher than expected It was revised up to 46.1 from 45.6 in April and analysts had expected 46.0.
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