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France's Flash Composite PMI Rises to Five-month High in July

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France's private sector economy moved closer to stabilization in July, supported by a marginal dip in business activity and cooling inflation, data from S&P Global showed Friday.

The S&P Global Flash France Composite PMI Output Index hit a five-month high of 49.6 in July, against the prior reading of 47.2. The index climbed to its highest level since the Middle East war began at the end of February.

For the manufacturing sector, the PMI was at a two-month low of 50, lower than the June figure of 51.2 and the consensus estimate of 51. Conversely, the services PMI clocked in at a seven-month high of 49.8, compared with the previous 46.8 and the market forecast of 47.5.

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