Gelonghui May 23| Norman Liebke, economist at Commerzbank Hamburg, saidcrashbandicootnsanetrilogyps3Thanks to strong domestic demand, the French economy will grow in the second quarter. Although the composite PMI for May was slightly below 50, there is no reason to worry. Demand is growing for the first time in more than a year, and employment is still growing strongly. At the same time, France's services industry showed signs of a continued upward trend. The new business segment index confirms this, showing stronger overall demand. Although business activity has declined, it has declined only slightly compared with the past few months, and the pace has slowed significantly. In addition, employment growth is growing steadily despite slowing. French manufacturing is also slowly recovering. Although the manufacturing PMI and output PMI are still below 50, they have rebounded significantly from their December lows. Improvements in French manufacturing have also been accompanied by higher price pressures. Output prices rose for the first time since May 2023.
