French Sept services sector growth slightly less than flash forecast -final PMI

Reuters
·1 min read
Restaurants reopen indoor dining rooms with an easing of COVID-19 restrictions in France

PARIS (Reuters) - Activity in the French services sector expanded in September, albeit by a bit less than initially forecast, a survey showed on Wednesday, as worries about inflation lingered.

S&P Global said its final French services purchasing managers index (PMI) rose to 52.9 points in September from 51.2 in August, which had marked a 16-month low. The final September figure was slightly below a flash forecast of 53.0 points.

A reading above 50 marks growth in activity.

Data published last month showed that France's annual inflation rate slipped back to 6.2% in September from 6.6% in August, although inflation within the broader euro zone zoomed past forecasts to a record high of 10% in September.

"The slight pick-up in French service sector activity growth in September does little to ignite hopes that this is the start of a sustained improvement. Other survey indicators like new orders which, despite rising for the first time since July, point to underlying weakness as the measure remained bogged down in subdued territory," said S&P Global Market Intelligence senior economist Joe Hayes.

"Inflationary pressures meanwhile intensified in September, primarily as a result of surging energy prices," added Hayes.

(Reporting by Sudip Kar-Gupta; Editing by Susan Fenton)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • US TikTok bill sets up fight over free speech protections

    The U.S. Senate set up a likely court showdown over the scope of TikTok's free speech protections under the U.S. Constitution when it approved a bill on Tuesday to ban the social media platform from app stores unless its Chinese owner sells it. While the bill itself does not say anything about speech, the proposal has alarmed civil rights advocates, TikTok and users of the app, all of whom could sue if President Joe Biden signs it into law as expected. TikTok has already beaten a similar attempt to ban its use in the U.S. state of Montana, although the state is appealing that ruling.

  • Microsoft and Amazon face scrutiny from UK competition watchdog over recent AI deals

    British competition regulators said Wednesday they'll scrutinize recent artificial intelligence deals by Microsoft and Amazon over concerns that the moves could thwart competition in the AI industry. The Competition and Markets Authority said it's looking into Microsoft's partnership with France's Mistral AI and the company's hiring of key staff from another startup, Inflection AI. The watchdog also separately announced that it's investigating Amazon's $4 billion investment in San Francisco-based Anthropic.

  • Venezuelan candidate Gonzalez touts return of exiles, freeing political prisoners

    Venezuelan opposition candidate Edmundo Gonzalez said on Wednesday he is committed to carrying out a transition that will allow exiled people to return to the country and political prisoners to be freed. Gonzalez was named on Friday by the Unitary Platform opposition coalition as its candidate in the July 28 presidential election after primary winner Maria Corina Machado was banned from office and her alternate was unable to register. The 74-year-old former diplomat will appear on the ballot in three opposition party slots, while President Nicolas Maduro, who has been in power for more than a decade, will appear for 13 different parties.

  • First-round picks could be on the trading block on day 1 of the NFL draft

    The No. 1 pick in the NFL draft already has traded hands, with Carolina sending it more than a year ago to Chicago in a trade to move up to take Bryce Young first overall in 2023. Based on recent history, plenty more first-round picks should change hands on Thursday night with teams either looking to move up a spot or two for a specific player or to make a bigger investment with future picks to trade up for a franchise quarterback. Over the past five drafts, there have been 28 trades during the

  • PepsiCo, Inc. (NASDAQ:PEP) Q1 2024 Earnings Call Transcript

    PepsiCo, Inc. (NASDAQ:PEP) Q1 2024 Earnings Call Transcript April 23, 2024 PepsiCo, Inc. misses on earnings expectations. Reported EPS is $1.48 EPS, expectations were $1.52. PEP isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning and welcome to PepsiCo’s […]

  • Lobster season opens on Eastern Shore

    Lobster season opens on Eastern Shore By Joanne Jordan, Local Journalism Initiative Reporter ST. MARY'S — Lobster fishers along the Eastern Shore, including in the District of St. Mary’s, dropped their traps on April 19 and pulled up their first catches on April 20. Even though wharf prices in southwestern Nova Scotia were reported at as high as $18 per pound, especially if the supply was low and the demand high, the opening day price for the tasty crustaceans in this area was $11.50 per pound.

  • Queen Letizia’s tweed midi dress is a lesson in classic styling

    The Spanish royal has proved once again why she's our style muse, stepping out in a custom-made tweed dress. See photos

  • Q1 2024 CoStar Group Inc Earnings Call

    Q1 2024 CoStar Group Inc Earnings Call

  • Canada retail sales miss expectations with second monthly fall

    Retail sales decreased 0.1% in February after a 0.3% contraction in January, Statistics Canada said, adding a preliminary estimate showed that sales were likely to remain unchanged in March. Two back-to-back months of a fall in retail sales reflects the continued strain on the economy from high interest rates. Analysts polled by Reuters had forecast a 0.1% rise in retail sales in February.

  • Stride, Inc. (NYSE:LRN) Q3 2024 Earnings Call Transcript

    Stride, Inc. (NYSE:LRN) Q3 2024 Earnings Call Transcript April 23, 2024 Stride, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day, everyone, and welcome to the Stride Third Quarter Fiscal 2024 Earnings Call. Today’s call is being recorded. […]

  • Speaker Mike Johnson says he will visit Columbia University as pro-Palestine protester chaos continues

    Other House Republicans will travel alongside Mr Johnson, including Rep Anthony D’Esposito

  • Rogers Communications reports Q1 profit down from year ago, revenue up

    TORONTO — Rogers Communications Inc. reported a first-quarter profit of $256 million, down from $511 million a year ago, as it faced higher depreciation and amortization costs related to its acquisition of Shaw Communications and higher finance costs. The company says the profit amounted to 46 cents per diluted share for the quarter ended March 31, down from $1.00 per diluted share in the same quarter last year. Revenue totalled $4.90 billion, up from $3.84 billion a year earlier, helped by grow

  • Another Matheson meeting cancelled amid councillor boycott

    BLACK RIVER-MATHESON - Another meeting has been cancelled as a trio of Northern Ontario councillors continue to boycott them in hopes of triggering a byelection. Tonight’s (April 23) Black River-Matheson council meeting was cancelled due to a lack of quorum. It's the fifth consecutive meeting that has been cancelled because there weren't enough members in attendance. Mayor Doug Bender and councillors Chantal Rondeau and Allana Schmidt were the members in attendance. Township staffers James Lefeb

  • Mixed reviews on VW benefits

    The economic benefits beginning to flow to Central Elgin (CE) from Volkswagen-PowerCo’s plans to build an electric vehicle battery plant in St. Thomas by 2027 have received mixed reviews. A series of online Facebook posts criticize the compensation package that a Provincial facilitator has awarded CE for the city’s March 13, 2023 annexation of land to develop St. Thomas’ 1,500-acre Yarmouth Yards Industrial Park to accommodate the VW gigafactory. The plant is forecast to create some 3,000 direct

  • Statistics Canada reports February retail sales down 0.1% to $66.7 billion

    OTTAWA — Statistics Canada says retail sales fell 0.1 per cent to $66.7 billion in February, weighed down by lower sales at gasoline stations and fuel vendors. The agency says sales at gasoline stations and fuel vendors fell 2.2 per cent in February, while sales at motor vehicle and parts dealers gained 0.5 per cent. Core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — were unchanged in February. Sales at general merchandise retailers rose 1.

  • 1 dead in Flag Chapel shooting

    One person was killed in a shooting on North Flag Chapel Road.

  • With ‘Caledon under threat’, over 150 residents meet to demand action from Town Council, Mayor Annette Groves

    It was standing room only inside a church in Caledon East on Wednesday as over 150 residents gathered to question the decision making of Mayor Annette Groves, and demand change after what was described as a takeover of democracy by the rookie mayor, certain members of council and senior staff. The emergency meeting, hosted by newly-formed advocacy group Democracy Caledon, sought to challenge Groves and her repeated use of Strong Mayor powers, which she has exercised at least four times— includin

  • French court confirms ex-PM Fillon's conviction in 'fake jobs' scandal

    France's Court of Cassation on Wednesday confirmed the conviction of former premier François Fillon in a fake jobs scandal that wrecked his 2017 presidential bid but ordered a new trial for his sentencing. Fillon, 70, was sentenced on appeal on May 9, 2022 to four years' jail, three years of which were suspended, and a fine of 375,000 euros ($400,000). A new sentencing trial will take place in coming months at the Paris court of appeal.The conservative politician was found guilty of providing a

  • Supreme Court live updates: Does Idaho abortion ban conflict with federal law?

    The Supreme Court is considering for the first time the impact of state abortion bans imposed since it overturned Roe v. Wade in 2022.

  • Forest take up offer to listen to VAR audio linked to penalty appeals at Everton

    The club initially asked for the audio to be put in the public domain.