Services PMI 46.8 vs 47.4 prelimPrior 44.3Composite PMI 47.2 vs 47.6 prelimPrior 44.9The final readings are softer than the initial estimates but at least reaffirms that the downturn in the French economy is less profound in June than it was in May. Of note, the PMI data reveals the slowest declines in output and new orders sinceMarch.Besides that, there was a slight pick-up in businessconfidence and a softening of inflationary pressures. So, that adds to some good news for ECB policymakers in guarding against stagflation pressures.S&P Global notes that:"There was a reduced drag on demand from non-domesticcustomers, as evidenced by a markedly softer fall in newexport business. The latest survey data indicated theweakest decline since March, with the pace of deteriorationeasing sharply from May's five-and-a-half-year record.A welcome development for firms was on the inflation frontas June survey data signalled an easing of cost pressures forthe first time since the outbreak of war in the Middle East.However, input prices continued to increase sharply amid reports of greater fuel, energy and salary costs.As for prices charged, French services companies registereduplifts once again in June, extending the current sequence ofinflation to three months. Services fees rose at a slower pacethan in May, however, amid reports from some companiesof a reluctance to increase their charges due to competitionand fears of losing clients." This article was written by Justin Low at investinglive.com.