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Markit France Services PMI falls at sharpest rate for three years

New business falls at sharpest rate for three years during April

Key points:

Final Markit France Services Activity Index at 45.2 (50.1 in March), 6-month low.

Final Markit France Composite Output Index at 45.9 (48.7 in March), 6-month low.

Summary:

The performance of France’s service sector weakened markedly in April. Incoming new business fell at the steepest rate for three years, leading to a substantial reduction in activity. Correspondingly, backlogs of work decreased sharply. Lower workloads did not result in job shedding, however, as employment remained stable on the month. Optimism regarding future activity meanwhile weakened to the lowest since January. Input prices continued to increase at a solid pace, but prices charged fell slightly.

The seasonally adjusted final  Markit France Services Business Activity Index  – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared with one month ago – dropped to 45.2 from 50.1 in March.

Via Markit France Services PMI®

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