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French Business Recession Rases in May as Lockdown Unwound: PMI

Thursday, 21 May 2020 14:58 WIB PMI Perancis PMI France

France's business slump eased in May, albeit not quite as much as expected, as a nationwide coronavirus lockdown was lifted earlier this month, a survey showed on Thursday. Data compiler IHS Markit said its composite purchasing managers' index rose to 30.5 from a record low of 11.1 in April when vast swathes of the economy were shuttered. The improvement fell just short of economists' average prediction in a Reuters poll for 32.0 and was still far from the 50-point threshold dividing an expansion in business activity from a contraction. Most shops and factories that had to close during the lockdown began reopening on May 11 when it was lifted, though cafes, bars and restaurants remain...

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