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French business booms more than expected in July on services rebound: PMI

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French business activity rebounded far more than expected in July as a post-lockdown recovery in the service sector shifted up a gear, a survey showed on Friday.

Data compiler IHS Markit said its preliminary purchasing managers index jumped to 57.6 from 51.7 in June, hitting its highest level since January 2018.

French business activity has been recovering faster than expected since the country began emerging from a coronavirus lockdown on May 11. Companies in both the services and manufacturing sectors both ramped up production in July as backlogs built in the face of pent-up demand unsatisfied during the lockdown.

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despite the green merkel macron 750 billion plan , the market crash since 3 days in the row. today -2...i mnot sure this information was seen as positive by the market.

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