Seeking Alpha

France in danger of return to recession

  • France's services PMI dropped to 48 in November (flash 48.8) from 50.9 in October.
  • The composite index fell to 48 (flash 48.5) from 50.5.
  • The figures add to data that show manufacturing PMI declined to 48.4 last month.
  • "Weak demand and confidence again weighed on new business inflows, while jobs were cut at the sharpest rate in seven months," says Markit. "The latest data highlight the risk of a further contraction in GDP during the fourth quarter, which would tip France back into recession."
  • The CAC 40 (EWQ) is +0.2% and the euro is -0.1% at $1.3581. (PR)
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)