2018.07.2403:54:00UTC+00France's Private Sector Expands At Slower Pace

France's private sector expanded at a slower pace in July, flash data from IHS Markit showed Tuesday.

The composite output index dropped to 54.5 from 55.0 in June. The score was forecast to fall slightly to 54.9 but it remained above the neutral 50.0 mark for a twenty-fifth month in a row.

Survey data showed that growth remained broad-based across the manufacturing and service sectors, albeit noticeably sharper in the latter.

The manufacturing Purchasing Managers' Index rose to 53.1 from 52.5 in June. Economists had forecast the index to remain unchanged at 52.5.

Meanwhile, the services PMI dropped to 55.3 in July from 55.9 a month ago. The reading was expected to fall to 55.7.