French Growth Slows But Manufacturing Hits Six Year High

France’s private-sector economy slowed in July as the best manufacturing numbers in more than six years couldn’t compensate for a weakening in services.

A composite Purchasing Managers’ Index fell to 55.7 from 56.6 in June, IHS Markit Economics said Monday. That’s worse than the 56.4 predicted by economists in a Bloomberg survey. While service growth retreated more than forecast, manufacturing unexpectedly increased, and all readings were well above the 50 mark the separates expansion from contraction.

Bloomberg

DAX Drops as German Manufacturing PMI Slows

The Song Remains The Same

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.