The latest set of flash France PMI data signalled a further rise in French private sector output during September. The pace of growth remained sharp overall with the IHS Markit Flash France Composite Output Index, which is based on around 85% of usual monthly survey replies, posting well above the neutral 50.0 level. Moreover, at 57.2 the rate of expansion was the most marked since May 2011.

Having moderated in each of the previous three months, the rate of growth in service sector activity accelerated in September and was only marginally weaker than May's near-six-year peak. Further positive news was evident at goodsproducers, with manufacturing production rising to the greatest extent since April 2011.