Latest data released by Markit - 3 June 2021
- Composite PMI 57.0 vs 57.0 prelim
The preliminary report can be found here. No change to initial estimates as this reaffirms a sharp rise in business activity as virus restrictions ease in France. Markit notes that:
"Latest PMI data indicated a strong improvement in business activity across the French service sector after virus-related restrictions eased in May, allowing schools and many businesses to reopen after a period of closure. Stronger demand, particularly from the domestic market, underpinned the uplift.
"That said, output was somewhat hindered by capacity constraints after a softer increase in headcounts contributed to a marked rise in backlogs. Meanwhile, sector data continued to reveal a struggling hospitality sector with many businesses having to operate with restrictions on capacity.
"Nevertheless, the upturn across France's private sector, and a rising vaccination rate will place the country in good stead for strong growth as we head into the summer."