French service sector grows in April but manufacturing weakens, PMI shows
PARIS - France's dominant services sector expanded in April for the first time in almost a year, helping offset continued weakness in manufacturing, according to a monthly survey.
Any figure above 50 marks an expansion in activity, and April's reading was the first time France's services sector had breached that threshold since May 2023. The April composite flash PMI - which comprises both the services and manufacturing sectors - rose to 49.9 points from 48.3 in March, beating a Reuters forecast for 48.8 points.
"Because demand was strong in April, backlogs of work declined at a slower pace compared to the previous month. French manufacturing output stays subdued, but we expect it will soon follow the path of the services sector," he added.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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