Economics
French Business Index at Highest Since 2011 as Economy Picks Up
With cheaper oil and a weaker euro providing a boost to consumers and businesses, the International Monetary Fund predicts growth in Europe’s second-largest economy will exceed 1 percent in 2015, more than twice the pace of last year.
Photographer: Balint Porneczi/BloombergThis article is for subscribers only.
An index of French factory and services output rose to its highest in almost four years this month, evidence the economy is gaining strength.
Markit Economics said on Tuesday its Purchasing Managers Index rose to 53.4 from 52 in May. That’s the strongest since August 2011 and exceeded the median forecast of economists for an unchanged reading. A gauge of manufacturing increased to 50.5 from 49.4, the first time it’s indicated growth since April 2014, and a measure for services climbed to 54.1 from 52.8.