French HCOB Composite Flash PMI (Sep) 43.5 vs. Exp. 46.0 (Prev. 46.0)
- We think economic growth will be lower in 2024 than previously expected. Although companies in the service sector remain optimistic, they were far more optimistic a month ago.
- It is important to note however that this will be almost entirely driven by the public service sector.
- Inflation is still lurking, and the latest data shows rising input prices and output charges. This remains entirely services driven however as prices continue to fall in the manufacturing sector. We therefore expect overall inflation to have risen further in September to a rate of 5.5% before falling to a lower level.
via S&P Global
Reaction details (08:19)
- In reaction to the across-the-board soft data, EUR/USD fell from 1.0664 to 1.0615 over the course of two minutes. Bund Dec'23 future rose from 129.61 to 129.99.
22 Sep 2023 - 08:15- ForexData- Source: Newswires
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