French PMI Stays At Completely Horrible Level, Indicating Deep Economic Contraction

This technically counts as a “green shoot” in Europe.

French PMI actually ticked higher, from 43.8 in February to 44.0 in March.

Unfortunately, anything sub-50 is a sign of contraction, and anything as low as 44 is deep contraction.

So just like all of the other European countries reporting PMIs today, France is in a really bad state.

Here’s the general overview from Markit:


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