Preliminary France July services PMI 49.8 vs 47.5 expected; seven-month high.
Services demand rose for the first time since November, offsetting a softer
manufacturing print, but the overall economy remains in contraction with the
decline now limited. Private-sector employment fell again and business sentiment
stayed weak; input and output price inflation slowed for a second month. S&P
Global warned renewed oil and gas market tension — amid rising US‑Iran friction
— raises uncertainty over inflation and borrowing costs, increases the
likelihood of further ECB tightening, and therefore intensifies downside risks
to the French economy.
