The French service sector declined at a slower than initially estimated pace in June, final data from Markit Economics showed Wednesday.
The services Purchasing Managers' Index came in at 47.9, up from the flash estimate of 47.3. Moreover, the index rose from 45.1 in May. The reading below 50 indicates contraction in the sector.
The composite output index which measures activity in both the manufacturing sector and the service sector, rose to 47.3 from 44.6 in May. The flash reading for June was 46.7.
The decline in new business in services moderated in June. Similarly, backlogs of work and employment both registered slower falls.
Business expectations among French service providers declined sharply in June, marking its largest one-month fall since the late-2008 global financial crisis.
by RTT Staff Writer
For comments and feedback: email@example.com