(Il Sole 24 Ore Radiocor) - Milano, 23 apr - In April, France's purchasing managers' index for the manufacturing sector rose to a 47-month high of 52.8 from 50.0 in March while the index for the services sector slipped to a 14-month low of 46.5 from 48.8 the previous month, according to preliminary data released by S&P Global.

The manufacturing output PMI rose to a 50-month high of 52.9 from 48.6 while the composite PMI, a weighted average of manufacturing output and services PMI, slipped to 47.6 from 48.8 the earlier month, reaching a 14-month low.

A reading above 50 signals sector expansion while one below a contraction.

"There is a lot to unpack in the latest 'flash' PMI data for France," said Joe Hayes, principal economist at S&P Global Market Intelligence. "The service economy has deteriorated due to a diminishing willingness to spend - a typical consequence of uncertainty - pulling overall business activity levels lower. Preventing the headline 'flash' index from falling even further below 50.0 was the manufacturing sector, which saw a production rebound in April. However, this does not look like a turning point and will likely be temporary, as our survey respondents reported advance purchasing from customers in anticipation of price increases, shortages and logistics issues.

"Unsurprisingly, manufacturing inflation moved even higher in April as a range of raw material costs rose, transportation became more expensive and supply bottlenecks pushed up prices. Services companies are also feeling the pressure from higher transportation costs. What's most notable is that the passthrough to prices charged for goods and services remains contained. Services charges have barely moved since the outbreak of the war, which will be a welcome sight for policymakers in the European Central Bank. How long this continues remains to be seen, however, given the strain that.

corporate margins will be feeling."

(RADIOCOR) 23-04-26 09:45:25 (0246) 5 NNNN