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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FRANCE DATA
France Manufacturing Sentiment disappointed printing at 95 in July (vs consensus and prior of 99), the lowest since December 2020.
- It deviated significantly from its long term average of 100 and remains below the pre-covid (2014-19) average of 103.7.
- Of particular note, 'Personal Production expectations' subcomponent fell over 3 points to -5.4 - the lowest since July 2023, and the 'Demand and export order books' subcomponent deteriorated to -18.5 (vs -8.6 prior) - the lowest since May 2021. Similarly, the subcomponent 'General Production Expectations decreased to -18 from -11.6 in June, and therefore remained at the lowest levels since November 2020.
- This suggests a continued weakness in the manufacturing sector of France's economy as reflected in the France Flash Manufacturing PMI reading for July which fell to 44.1 - the lowest since January 2024.
- The graph below shows that the France services sentiment indicator released by Insee also fell in July to the lowest since 2021, and moves below the pre-covid average of 100.5 (2014-2019).
- Responses for this survey were collected between June 27 and July 22.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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