July final manufacturing PMI 49.8 vs 50.0 prelimPrior 51.2It's a sluggish start to the second half of the year for French manufacturing amid an accelerated declines in new orders, production and purchasing activity. In any case, this marks a third straight month that new order inflows fell while production volumes also decreased. Looking to price pressures, July survey data signalled the slowest rate of input price inflation in four months. S&P Global notes that:"France's manufacturing sector is struggling once again as inflationary pressures and weak confidence undermine order books. This will likely erode confidence further, raising the risk of further demand destruction, especially if inflation kicks higher.