2023-04-05 03:57:02 ET
-
Services PMI in France increased to 53.90 points in March from 53.10 points in February of 2023.
-
The expansion was solid overall and the strongest since mid-2022, with growth reportedly underpinned by improved demand conditions.
-
New orders rose modestly in March, while business confidence also strengthened slightly.
-
Service providers also remained in hiring mode as employment levels increased solidly.
-
Joe Hayes, Senior Economist at S&P Global Market Intelligence, said: "March's PMI survey rounds off what can be considered a fairly positive opening quarter of 2023 for the French economy. Although manufacturing output continues to fall, two robust monthly expansions in services activity in February and March bodes well for the economic growth performance in the first quarter, although it remains to be seen if there will be any material impact from the recent social unrest across the country.
For further details see:
France Services PMI at 53.90 points in March