Services PMI 47.4 vs 46.0 expectedPrior 44.3Manufacturing PMI 50.7 vs 50.0 expectedPrior 49.7Composite PMI 47.6 vs 46.4 expectedPrior 44.9<\/p>\n
It’s a minor relief for French business activity as we see a slight rebound at the end of Q2. That being said, the overall performance still points to a downturn which likely should see the economy contract in the second quarter.<\/p>\n
Some positive developments from this month’s showing stems from a broad stabilisation of
\nemployment, the first improvement in business confidence
\nsince January and a softening of cost pressures.<\/p>\n
However, new order inflows contracted once again at the end of the
\nsecond quarter – marking seven months of uninterrupted
\ndecline.<\/p>\n
The good news at least is that price pressures are seen easing slightly but continue to stay at elevated levels as evident below:<\/p>\n
S&P Global notes that:<\/p>\n
“That said, softer readings in the PMI survey’s pricing
\nmeasures, which follow on from the fall in global oil
\nprices over this past month, could signal that peak
\ninflation is behind us and the disinflationary process
\nis underway. However comforting that train of thought
\nmay be, it may be too soon to make such a claim given
\nthe uncertainty surrounding ship transits through the
\nStrait of Hormuz.”<\/p>\n","protected":false},"excerpt":{"rendered":"Services PMI 47.4 vs 46.0 expectedPrior 44.3Manufacturing PMI 50.7 vs 50.0 expectedPrior 49.7Composite PMI 47.6 vs 46.4 expectedPrior…\n","protected":false},"author":2,"featured_media":755296,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-755295","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/755295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=755295"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/755295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/755296"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=755295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=755295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=755295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}