Private sector activity experienced strong growth in April, with a more rapid pace since the start of 2018, driven by the recovery of the service sector against a backdrop of the end of the pandemic, according to an indicator published on Wednesday by the firm S&P Global.
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The composite index of global activity, an indicator closely watched by the financial markets, thus rose to 57.6 points in April, i.e. a level slightly higher than the first estimate published at the end of April, after 56.3 points in March. .
An index above 50 marks an expansion in activity, while a level below 50 indicates a contraction.
This growth essentially reflects the strong recovery of the services sector, whose growth in activity has been the most dynamic for more than four years, while the expansion of manufacturing production has been only "
moderate
", underlines the firm.
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“
Economic activity continues to benefit from the gradual lifting of health measures, with many companies surveyed having indeed attributed strong and prolonged demand growth to the post-pandemic recovery
”, analyzes Joe Hayes, economist at S&P Global, quoted in the press release.
"
While the current weakness of the manufacturing sector is likely to persist, the expansion of the service sector is crucial for the French economy
", since it is the most important sector of the French economy, adds he.
However, he warns that a "
slowdown
" is "
very likely
" once the post-pandemic rebound effect passes,
as prices rose to a record high in April, worrying businesses.
At the same time, employment growth has accelerated at a pace not seen in six months, notes the firm.
