May composite PMI 48.9 vs 50.5 in April (Il Sole 24 Ore Radiocor) - London, 05 Jun - In May, France's purchasing managers' index for the services sector dropped to 49.3 from 51.3 in April, according to data released by S&P Global and Hamburg Commercial Bank.

The composite output index, a weighted average of services PMI and manufacturing output, fell to 48.9 from 50.5 in the previous month.

A reading below 50 signals contracting sector activity, while one above an expansion.

"The latest HCOB PMI figures are giving mixed messages about the state of the French services sector. Although business activity declined slightly in May, overall demand grew for the second month in a row. Additionally, although at a slower pace, employment improved for another month, showing robust expectations about the future," said Norman Liebke, economist at Hamburg at Hamburg Commercial Bank.

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(RADIOCOR) 05-06-24 10:05:47 (0236) 5 NNNN