French stocks were modestly higher on Friday after flash survey data published by IHS Markit revealed the country’s private sector grew at the fastest pace since mid-2020.
The composite output index climbed more-than-expected to 57.0 in May from 51.6 in the previous month as lockdown restrictions were eased and the economy began to reopen. The score was forecast to rise to 53.7.
The latest figure suggested that the private sector grew at the fastest rate since July 2020, and was also the second-strongest since February 2018.
Manufacturing production continued to grow at a faster rate than services activity. The factory PMI edged up to 59.2 from 58.9 in the previous month while the services PMI improved to a 10-month high of 56.6 from 50.3 a month ago.
The benchmark CAC 40 was up 16 points, or 0.3 percent, at 6,359 after rising 1.3 percent the previous day.
CAC 40 Edges Higher On Solid Data
2021-05-21 09:05:47
