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What the France Services PMI Signals for the Economy

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France Services PMI in April

According to data provided by Markit Economics, the final Markit France Services PMI (Purchasing Managers’ Index) improved marginally in April compared to March. It was 57.4 in April compared to 56.9 in March. It met the initial market estimate of 57.4.

The performance of the France Services PMI in April was mainly due to the following factors:

  • Production volume and output improved marginally in April compared to March. Factory output also improved.
  • New business orders, business activity, and export orders all improved at a faster rate in April.
  • Employment in the services sector rose at a stronger rate in April.

Among the various subsectors, telecommunications and postal saw sharper improvements in business activity in April. However, other sectors showed a weaker rise in business activity.

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Performances of ETFs in April

The iShares MSCI France ETF (EWQ), which tracks France’s equity market performance, improved 4% in April. However, the Vanguard FTSE Europe ETF (VGK), which tracks Europe’s equity market performance, rose 2.1%.

In the next part of this series, we’ll analyze the services PMI for Spain in April.

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