{"id":434598,"date":"2026-07-24T14:24:30","date_gmt":"2026-07-24T07:24:30","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/french-business-activity-stabilises-in-july-amid-strong-rebound-in-the-services-economy-434598\/"},"modified":"2026-07-24T14:24:30","modified_gmt":"2026-07-24T07:24:30","slug":"french-business-activity-stabilises-in-july-amid-strong-rebound-in-the-services-economy","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/french-business-activity-stabilises-in-july-amid-strong-rebound-in-the-services-economy-434598\/","title":{"rendered":"French business activity stabilises in July amid strong rebound in the services economy"},"content":{"rendered":"<div>\n<ul>\n<li>July flash services PMI 49.8 vs 47.5 expected<\/li>\n<li>Prior 46.8<\/li>\n<li>July flash manufacturing PMI 50.0 vs 51.0 expected<\/li>\n<li>Prior 51.2<\/li>\n<li>July flash composite PMI 49.6 vs 47.8 expected<\/li>\n<li>Prior 47.2<\/li>\n<\/ul>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The services print is a 7-month high and that is carrying the French economy in July, amid a step back in the manufacturing sector on the month.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">Of note,\u00a0demand for services was seen rising for the first time since<br \/>\nNovember last year. So, that brought much stabilisation to the overall economy &#8211; even if still in contraction territory, albeit marginally.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">That being said, private sector employment<br \/>\nremained under pressure and declined again while business<br \/>\noptimism stayed subdued. So, there&#8217;s that.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The only other good news at least is that\u00a0input cost and<br \/>\noutput price inflation rates eased for the second month in<br \/>\nsuccession. But with renewed tensions between the US and Iran, it&#8217;s hard to imagine that as being much of an optimistic takeaway at this stage.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">S&amp;P Global notes that:<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">&#8220;While the latest survey data brought with it good news<br \/>\nin the form of the France PMI rising further from its May<br \/>\nlow and inflationary pressures easing, it feels overly<br \/>\noptimistic to bank on this momentum continuing given<br \/>\nrenewed pressures on oil and gas markets in recent<br \/>\ndays. This also raises the odds of the European Central<br \/>\nBank delivering more monetary policy tightening, which<br \/>\nwould exacerbate these headwinds.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">&#8220;Escalating tensions between the US and Iran bring<br \/>\nfresh uncertainty about inflation, borrowing costs and<br \/>\ngeopolitics more broadly, and uncertainty has so often<br \/>\nbeen to the detriment of the French economy in recent<br \/>\nyears.&#8221;<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">\n<\/p>\n<p>                            This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>July flash services PMI 49.8 vs 47.5 expected Prior 46.8 July flash manufacturing PMI 50.0 vs 51.0 expected Prior 51.2 July flash composite PMI 49.6 vs 47.8 expected Prior 47.2 The services&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-434598","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=434598"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=434598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=434598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=434598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}