{"id":435522,"date":"2026-08-06T04:00:16","date_gmt":"2026-08-05T21:00:16","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/french-services-sector-confirmed-to-see-a-modest-pick-up-in-july-pmi-data-435522\/"},"modified":"2026-08-06T04:00:16","modified_gmt":"2026-08-05T21:00:16","slug":"french-services-sector-confirmed-to-see-a-modest-pick-up-in-july-pmi-data","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/french-services-sector-confirmed-to-see-a-modest-pick-up-in-july-pmi-data-435522\/","title":{"rendered":"French services sector confirmed to see a modest pick up in July &#8211; PMI data"},"content":{"rendered":"<div>\n<ul>\n<li>July final services PMI 49.6 vs 49.8 prelim<\/li>\n<li>Prior 46.8<\/li>\n<li>July final composite PMI 49.4 vs 49.6 prelim<\/li>\n<li>Prior 47.2<\/li>\n<\/ul>\n<p style=\"text-align: justify\" class=\"text-align-justify\">After a struggling second quarter, the start of the third quarter is at least seen looking better for the French economy. New business volumes rose for the first time since November last year, with greater business confidence observed alongside easing cost pressures. It&#8217;s still not great with overall business activity pointing to a mild contraction but it at least is an improvement to how conditions were in the months before.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The rebound in new orders was largely domestic-driven though amid a further and sharper drop in\u00a0new business from<br \/>\nabroad. Meanwhile, French\u00a0service providers also recorded a faster reduction in<br \/>\nemployment levels in July. So, it&#8217;s not exactly all rosy with the report here.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">But looking at the positives, there was\u00a0a rise in business<br \/>\nconfidence although\u00a0the<br \/>\nlevel of positivity was historically subdued amid concerns\u00a0about the political environment and higher interest rates. Besides that, at least\u00a0there was another easing in the rate of input cost<br \/>\ninflation. The increase in July was\u00a0the weakest in five months, albeit still sharp.<\/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;The third quarter has started off comparatively well for<br \/>\nFrance&#8217;s economy. The composite index for July is at a<br \/>\nlevel historically consistent with quarterly GDP growth<br \/>\nof around 0.2-0.3%. This amounts to a rebound after a<br \/>\nweak second quarter of PMI data.\n<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">&#8220;Tailwinds came in the form of a demand pick-up, easing<br \/>\ninflation and improved confidence, but given the rise in<br \/>\nglobal energy prices at the end of last month and the<br \/>\nintensification of the Middle East war, there&#8217;s a high risk<br \/>\nthat July&#8217;s positive PMI trend reverses.&#8221;<\/p>\n<\/p>\n<p>                            This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>July final services PMI 49.6 vs 49.8 prelim Prior 46.8 July final composite PMI 49.4 vs 49.6 prelim Prior 47.2 After a struggling second quarter, the start of the third quarter is&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-435522","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435522","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=435522"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}