Markit’s service sector PMI scored a 51.4 in April, down from March’s 52.4. Figures above 50 signify growth, which means France’s service sector is growing at a slower rate. However, France was shielded from the 2008-9 recession that hit Spain and Italy.
“The trend is down and the level is very weak compared to other Eurozone countries,” said economist Dominique Barbet from investment bank BNP Paribas. While Barbet does not believe the PMI’s are the best indicators of French economic health, he said “the April data clearly show that France lags the Eurozone economic recovery.”