Business News Asia
S&P Global Market Intelligence reported that the French services sector’s purchasing managers’ index (PMI) fell to 51.2 in August 2022 from 53.2 in July, slightly above the initial estimate of 51.0.
The PMI remains above 50, indicating an expansion of the French service sector.
The final composite PMI for France was 50.4 in August, down from 51.7 in July.
S&P Global’s head of economics said, “It appears that business activity in the French service sector is slowly moving towards a stagnation and there are signs of further deterioration.”
New orders in the services sector fell below 50 for the first time since early 2021, and business expectations fell to a 21-month low.