French business activity on path to recovery

French services PMI returned to expansion territory in March and increased to a 26-month high of 51.5 (flash 51.4) from 47.2 in February.

Composite PMI rose to a 31-month high of 51.8 (51.6) from 47.9.

"Tentative signs of improving demand and confidence seem to be supporting the firmer trend," says Markit, "but we need to see some consolidation in the coming months before firms will be sufficiently encouraged to invest more and begin hiring to any real extent.

The CAC 40 (EWQ) is -0.2%. (PR)

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