The May Flash PMI® data for the French private sector revealed a notable pick-up in growth momentum. Output rose for the second month running, and at a marked rate almost equalling that registered during the July 2020 rebound following the end of the first COVID-19 lockdown. Moreover, new business rose at the fastest rate since January 2018, resulting in the strongest growth in backlogs in over three years. This partly reflected difficulties hiring new staff, with employment rising at the slowest rate in four months. The Flash France Composite PMI Output Index rose to 57.0 in May, from 51.6 in April. The latest ... (full story)