France's August Manufacturing PMI Preliminary Reading Comes in at 51.5, Surpassing Analyst Forecasts

Deep News08-21

S&P Global has released the preliminary reading of France's Manufacturing Purchasing Managers' Index for August, which climbed to 51.5. This figure represents a notable uptick from July's 49.8 and also exceeds the year-ago reading of 50.4 for the same period.

The latest data surpassed market expectations, as a survey of 15 analysts had projected the index to land within a range of 49.3 to 51.0. The stronger-than-anticipated performance signals a return to expansionary territory for the manufacturing sector.

In contrast, the services sector showed a softer picture. The preliminary Services Business Activity Index came in at 48.4, missing the analyst consensus of 49.4. Additionally, the Composite Output Index, which combines both sectors, registered a preliminary figure of 48.8, down from July's 49.4, indicating a slight contraction in overall private sector activity.

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