France March final services PMI 57.4 vs 57.4 prelim

• Composite PMI 56.3 vs 56.2 prelim

No change to initial estimates for French services activity as that sees the highest reading since November last year. Overall business activity was supported by stronger new order growth, which accelerated to the highest in eight months. That said, the price trend continues to be a worry as cost pressures hit a new survey record. S&P Global notes that:

“French service sector growth strengthened in March as the additional lifting of COVID-19 restrictions, including the "pass sanitaire", boosted activity levels across the country and supported demand.

"Companies continued to hire additional staff, while survey data also showed clear signs of capacity pressures. For now, the removal of containment measures, as well as improving international travel, are likely to provide tailwinds for the service sector.

"Risks to the outlook have however intensified over the past month. Russia's invasion of Ukraine has created fresh uncertainty, but it has also caused commodity, energy and fuel prices to surge, and added new complications to already-fragile supply chains. Business confidence slid to a 14-month low in March.

"Surging price have added to concerns, with rates of input cost and output price inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term jumping to new records in March. We haven't quite yet seen any substantial evidence to suggest that the high inflation environment is impacting demand. However, a number of businesses have begun to cite rising price pressures as a risk to growth over the coming 12 months, especially as the post-pandemic recovery momentum fades."