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May sees sharp rise in French business activity as virus-related restrictions ease
May PMI® data pointed to a sharp and accelerated expansion in French service sector activity as the economy gradually reopened following a series of virus-related restrictions. The latest rise in output was supported by robust growth in new orders, which was the sharpest in over three years. Growth was centred on stronger domestic demand conditions as exports continued to fall. Despite the influx of new orders, firms raised staffing levels only marginally, with the rate of job creation the softest in five months. Subsequently, further signs of capacity pressures emerged after a sharp accumulation in backlogs was ... (full story)