France June manufacturing PMI rises to 51.2, beats forecasts

Macro
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France's manufacturing PMI rose to 51.2 in June, up from 49.7 in May and above the forecast of 50.7. The seasonally adjusted S&P Global France Manufacturing Purchasing Managers' Index indicates a return to expansion. Joe Hayes, Senior Principal Economist at S&P Global Market Intelligence, noted that while manufacturers remain under pressure, the downturn did not worsen and PMI price indices declining from May could signal lower inflation ahead, though uncertainty around the Strait of Hormuz and oil markets persists.

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