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ECONOMIC INDICATORS

France manufacturing contracts in May

France manufacturing contracted in May. PMI dropped to 49.7. S&P Global cites energy prices and transport issues.

Sophia Anderson
BySophia Anderson- Senior Editor
|
0
France manufacturing contracts in May
Photo: Prepared by Bond.az

France's manufacturing sector contracted in May for the first time since November. According to S&P Global, energy price spikes and transport disruptions from the Iran conflict impacted businesses.

The S&P Global France Manufacturing PMI fell to 49.7 in May from 52.8 in April. A reading below 50 indicates contraction.

This was the lowest since November and the first time it has fallen below the 50 level since then.

Joe Hayes, principal economist at S&P Global Market Intelligence, said: "Supply chains are still adjusting to volatility from the Middle East war and energy-price shock. French manufacturers experienced more delivery issues and input price rises than in April."

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France manufacturing contracts in May | Bond.az