Latest data released by Markit - 1 July 2020
The preliminary release can be found here. Little change to initial estimates as this just reaffirms a more solid recovery in French factory activity than anticipated.
While there are green shoots seen in this "V-shaped recovery", we'll have to see how this translates to hard data in Q2 and how things will progress in the coming months amid the new normal - not just in France, but the euro area region as well.
Markit notes that:
"Taken in context against the results of other European countries, the performance of the French manufacturing sector was particularly impressive in June. Flash PMI data pointed to a further contraction in German manufacturing production and only a slight rise in the UK. The next challenge for French goods producers will be to achieve sustainable growth, a key risk to which would be any large scale second-outbreak following the easing of restrictions."
