French S&P Global Composite PMI Flash (May) 43.5 vs. Exp. 47.7 (Prev. 47.6, Low. 46.1, High. 48.5)

"The inflationary impact of the oil-price shock continues to proliferate, with price indices in both manufacturing and services moving higher once again." "The concern is that a broader uplift in the economy's overall price level raises the risk of further demand destruction. Alarmingly, we saw private sector new orders plummet in May, giving us a clear indication that this shock has materially lifted recession risks for the eurozone's second-largest economy."