France’s final services PMI fell less than expected in July

S&P Global Market Intelligence reported that the final July 2022 services purchasing managers’ index (PMI) for France fell to 53.2 from 53.9 in June, a smaller decline than expected (52.1).

However, France, the second-largest economy in the eurozone, is likely to come under inflationary pressure in the short term.

The PMI remains above 50, indicating an expansion of the French service sector.

The final French Purchasing Managers’ Index for manufacturing and services was 51.7 in July, down from 52.5 in June and above the initial estimate of 50.6.

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