France manufacturing PMI fell to 49.8 in July from 51.2 in June, slipping back
into contraction as output and new orders declined at faster rates. S&P GLOBAL
MARKET INTELLIGENCE said inflationary pressures and weak business confidence are
weighing on orders, and that recent oil and gas price rises signal macro
and geopolitical volatility which could further erode confidence and risk
additional demand weakness, particularly if inflation re-accelerates.
