Flash PMI Shows A Huge Comeback For French Industry

For several months, France has been the ugliest big economy in Europe, sinking while everyone else is coming back.

So this is nice to see.

The Flash PMI report which just came out shows French industry storming back in March.

The report, which combines both the manufacturing and service industries, surged from to 51.6 from 47.9 in February. This is a 31-month high. Manufacturing output rose to 52.8, which is a 34-month high.

This chart shows the big spike.

The euro briefly spiked on the news, but has since given up those gains.

German Flash PMI, meanwhile, has dipped to a 3-month low of 55.0, which is still quite strong.

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