France's services sector displayed a slight improvement in February, according to the latest data released by IHS Markit. The Services Purchasing Managers' Index (PMI) for France rose to 48.4 in February from the previous reading of 45.4 in the same month the year before. The latest figure, although still below the threshold of 50 that separates expansion from contraction, indicates a slowing pace of decline in the sector.
The uptick in the services PMI suggests a tentative recovery in the French services industry, pointing towards potential stabilization in the coming months. The data, updated on 5th March 2024, reflects the ongoing efforts to revive the economy following the disruptions caused by the COVID-19 pandemic. Economists will closely monitor future PMI figures to gauge the sector's resilience and track the progress of economic recovery in France.
