Latest data released by Markit - 1 June 2020
- Prior 31.5
The preliminary release can be found here. Little change to the initial estimate as the reading highlights that factory activity did improve from April to May but overall conditions still remain highly subdued for the time being. Markit notes that:
"Despite some French manufacturers beginning to resume normal operations in May, output continued to decline following April's record contraction. Although the rate of decline eased, the further reduction in activity highlights the challenges that the economy faces in its recovery from this crisis. Firms are now presented with an environment of subdued demand, as clients remain hesitant to place orders amid uncertainty over the removal of restrictions and the potential for further outbreaks.
"Going forward, the new orders index will take on an important role in determining when demand is beginning to recover, and only when that happens can we expect a return to sustainable growth."
