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August 23, 2023
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France PMI services 46.7 (consensus 47.5) in Aug-23

- France's PMI services sector declined to 46.7 in August 2023, indicating a surprisingly steep contraction (consensus 47.5) and marking the lowest level since February 2021.
- Compared to the one-year average, the PMI services reading demonstrates a significant deviation of 4.02 points, reflecting a notable deterioration in the sector.

August 23, 2023
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France PMI manufacturing 46.4 (consensus 45) in Aug-23

- France's PMI for manufacturing in August 2023 improved to 46.4 from the previous month's reading of 45.1, indicating a slight surprise recovery in the sector. However, it remained below the long-term average by 0.80, reflecting ongoing challenges.
- The manufacturing sector in France continued to face contractionary pressures in August 2023, as evidenced by the PMI remaining below the neutral 50.0 level. The marginal improvement suggests a slow recovery, but concerns remain regarding the sector's sustained growth.

August 11, 2023
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France unemployment rate 7.2% (consensus 7.1) in Q2-23

- France's unemployment rate in Q2-23 was 7.2%, slightly higher than the consensus forecast of 7.1%, marking the highest level since Q3-22.
- Despite some positive economic indicators such as GDP growth and PMI figures, the unemployment rate still remains significantly above the long-run average, highlighting the need for targeted policies.

July 28, 2023
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France HICP inflation 5.04% y-o-y (consensus 5.1%) in Jul-23

- France's HICP inflation rate dropped to 5.04% year-on-year in July 2023, marking a slowdown from the previous month, broadly as expected.
- Despite the decline, the current inflation rate remains substantially higher than the long-term average, suggesting ongoing inflationary pressures in the French economy.

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