23.08.201803:35:00UTC+00France's Private Sector Growth At 4-Month High

France's private sector growth accelerated to a four-month high in August, thanks to stronger expansions in both the services and manufacturing sectors, flash data from IHS Markit showed Thursday.

The composite output index rose to 55.1 in August from 54.4 in July. Moreover, the index remained above the neutral 50.0 mark for a twenty-sixth month in a row and the expected level of 54.6.

The services Purchasing Managers' Index climbed to 55.7 in August from 54.9 a month ago. Economists had forecast the index to rise slightly to 55.1 in August.

Manufacturers also reported a faster increase in output in August. The corresponding PMI came in at 53.7, up from 53.3 in July and forecast of 53.4.

Nonetheless, the degree of optimism among French businesses slipped to the lowest seen since November 2016.