The S&P Global 'flash' PMI data portrayed a more stable picture of economic conditions in France during July as the headline index moved closer to the neutral 50.0 threshold. In doing so, it also registered its highest reading since the outbreak of the Middle East war at the end of February. This reversal reflected a broad stabilisation in France's vast services economy – a notable turnaround from the marked contractions witnessed across the second quarter – with demand for services even rising for the first time since November last year. That said, private sector employment remained under pressure and declined ... (full story)