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France June flash services PMI 48.0 vs 52.0 expected

Prior 52.5Manufacturing PMI 45.5 vs 45.4 expectedPrior 45.7Composite PMI 47.3 vs 51.0 expectedPrior 51.2Ouch. That is a painful reading on the services front, falling to a 28-month low and is a big blow to the euro and the ECB's conviction to tighten further. The manufacturing print is also a 37-month low as the deterioration in demand conditions is starting to weigh further on the French economy. HCOB notes that:“The HCOB Flash PMIs for June do not paint an encouraging picture for the French ec... Read More

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Content Topics

France

June

Flash

Services

48

52 Expected

Forex

Posted: Jun 23 2023, 07:16

Author Name: forexlive

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