According to a survey released by S&P Global on Friday, France's initial service sector PMI fell to 48.4 in August, a two-month low, down from 49.6 in July. The contraction in commercial activity exceeded expectations. Recently, continued high temperatures dragged down the country's dominant service sector. France's service sector PMI for August was also lower than market expectations of 49.8. Meanwhile, France's initial manufacturing PMI for August rose from 49.8 in July to 51.5, exceeding expectations of 50. However, the initial composite PMI fell from 49.4 in July to 48.8, a two-month low, lower than the forecast of 49.5. Joe Hayes, senior chief economist at S&P Global Market Intelligence, said, “The PMI report in early August showed that the French economy was weak for the second month in a row. Some companies, particularly in the service sector, point to extreme heat as one of the reasons for the decline in activity and demand.”

According to a survey released by S&P Global on Friday, France's initial service sector PMI fell to 48.4 in August, a two-month low, down from 49.6 in July. The contraction in commercial activity exceeded expectations. Recently, continued high temperatures dragged down the country's dominant service sector. France's service sector PMI for August was also lower than market expectations of 49.8. Meanwhile, France's initial manufacturing PMI for August rose from 49.8 in July to 51.5, exceeding expectations of 50. However, the initial composite PMI fell from 49.4 in July to 48.8, a two-month low, lower than the forecast of 49.5. Joe Hayes, senior chief economist at S&P Global Market Intelligence, said, “The PMI report in early August showed that the French economy was weak for the second month in a row. Some companies, particularly in the service sector, point to extreme heat as one of the reasons for the decline in activity and demand.”