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Flash PMI: French Private Sector Contraction Eases in June

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France's private sector economy remained in contraction territory in June, but the pace of the downturn decelerated sharply with both manufacturing and services segments posting softer output declines, data from S&P Global showed Tuesday.

The S&P Global Flash France Composite PMI Output Index hit a two-month high of 47.6 in June, against the prior reading of 44.9 and the expected 46.

For the manufacturing sector, the PMI was also at a two-month high of 50.7, higher than the May figure of 49.7 and consensus estimate from Investing.com of 50.2. Meanwhile, the services PMI clocked in at a three-month high of 47.4, compared with the previous 44.3 and market forecast of 45.9, according to Investing.com data.

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