Economic activity in France increased more than expected in July

Data released by the Market Corporation today showed that the Composite PMI in the second largest economy in the euro area rose to 57.6 points in July from 51.7 points in June, the highest level since January 2018.

Analysts had expected economic activity in France to rise to 53.5 points in July, after the country entered its worst economic recession since the registration began in 1948, and the manufacturing purchasing managers' index in France fell to 52.0 points in July compared to 52.3 points in June.

The Services PMI in France rose to 57.8 points in July, compared to 50.7 points in June, and analysts had expected the services PMI in France to rise to 52.3 points in July.