French growth remains strong in May: PMI index

3rd June 2011, Comments 0 comments

Leading signals from the French economy showed continued strong growth in May with services picking up for sagging manufacturing, a survey of purchasing managers showed on Friday.

The headline Markit France Services Business Activity Index slipped to 62.5 in May, from April's ten-and-a-half year high of 62.9, according to final figures.

A score above 50 indicates growth.

Markit's France Composite Output Index, which is based on a representative sample of over 700 companies, came in at 60.3, down from 62.4 in April.

"Activity growth across the whole of the French private sector remained marked in May, despite easing since April," said Markit.

"Although slowing slightly since April, the rate of expansion of activity in the French service sector was still the joint second-highest since September 2000," with companies surveyed reporting further strong increases in new business, said Markit.

French service providers continue to remain upbeat about the future, with around 44 percent anticipating growth in their businesses over the next year while six percent forecast declines.

© 2011 AFP

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