French S&P Global Manufacturing PMI Final (Mar) 50.0 vs. Exp. 50.2 (Prev. 50.1, Low. 50.2, High. 50.2)
Importance
Level 1
- "The March PMI revealed an immediate impact from the war in the Middle East. The survey data, collected between 12-24 March, imply a rapid supply-side squeeze from the conflict as delivery times lengthened substantially and input costs soared. The passthrough to output prices appears to be fairly contained at this stage."
- "Clearly, the longer this war is drawn out for, the greater are the chances of France's manufacturing sector slipping into stagflation."
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