Very poor French PMI prints,............>

FRANCE DATA: Very poor French PMI prints, particularly manufacturing. Recently

French prints have been largely better than exp as the end of the gilet jaunes

protests have boosted confidence. Optimism is still fairly high, but the rebound

appears to be over. Export orders also stagnant - will be a key component to

watch in Germany and the pan-Eurozone print.

Highlights from the press release below:

- "New orders placed with private sector companies in France rose at a softer

rate in July."

- "New export business was broadly stagnant at the start of the third quarter"

- "Private sector firms maintained their optimism towards the business outlook

at the start of the third quarter. Moreover, the degree of confidence was

stronger than in June, primarily driven by an increase in optimism in the

service sector."