The growth of activity in the French industry stagnated in July. Research firm Markit reported this on the basis of a provisional figure.
The purchasing managers’ index for the French industry fell to a level of 50, compared to a level of 51.9 in June. In general, economists predicted a level of 51.6 for the indicator, which at a level higher than 50 indicates growth and below that shrinkage.
There was weaker growth in the French services sector. That index went to 52.2 from 52.9 a month earlier. The composite index for July was 51.7 against 52.7 in June.
Markit also reported that German industry contracted further in July. That indicator went to 43.1 from 45 in June. Economists generally expected a slight improvement to 45.2. The index for the German services sector was 55.4 against 55.8 a month earlier. The composite index was 51.4 compared to 52.6 in June.