PARIS (Reuters) – French private sector activity grew in May at its slowest pace in four months, with manufacturing continuing to contract while service sector growth slows, a survey of respondents on Tuesday showed. purchasing managers.
The “flash” PMI index for the services sector came out at 52.8, after 54.6 in April, while the Reuters consensus gave it at 54.0.
That of the manufacturing sector rose to 46.1, after 45.6 last month, while economists and analysts gave it to 46.0.
The composite PMI, which includes the two sectors, thus reached 51.4 – its lowest since January – after 52.4 in April and against 52.0 expected.
“The latest data showed a fourth consecutive monthly increase in activity… After GDP growth of 0.2% in the first quarter, the data paints a completely different picture for the second quarter,” he said. said Norman Liebke, economist at Hamburg Commercial Bank (HCOB).
“New business fell for the first time in three months while price paid and price billed inflation remained at high levels,” he added.
(Benoit Van Overstraeten, Laetitia Volga, editing by Kate Entringer)
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