France’s Economy ‘Treading Water’ on Faltering Manufacturing

France’s private-sector economy showed signs of stagnation in July as a continued slump in manufacturing output erased a return to growth in services.

A composite Purchasing Managers’ Index stood at 50 in July, the threshold that divides expansion from contraction, according to Markit Economics. It had fallen to 49.6 in June. A gauge for manufacturing increased to 48.5, while a measure for services rose to 50.3.