French service sector recorded no change in activity levels in July following three months of declines, Markit Economics said in a detailed survey report on Friday.
The seasonally adjusted business activity index posted 50 in July, up from 47.9 in June. A PMI reading above 50 indicates expansion of the sector, while a reading below 50 suggests contraction.
The latest reading is the highest in four months. The flash result of the Markit survey, released last month, showed a reading of 50.2 for July.
The composite output index, that measures activity in both manufacturing and services, rose to a four-month high of 47.9 compared to 47.3 in June.
Despite the improvement, the reading pointed to contraction in activity. The flash reading was 48.
by RTT Staff Writer
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