- French services PMI dropped to 47.8 in December (flash 47.4) from 48 in November.
- The contraction in the sector adds to a poor manufacturing picture, helping composite output fall to 47.3 (flash 47) from 48.
- "Persistently weak demand continues to impact on the (services) sector’s performance," says Markit, "with firms reporting continued declines in both new business and backlogs of work."
- However, companies are optimistic that the situation will improve in 2014 - business expectations are "holding at a level better than those seen over much of the past year-and-a-half," says Markit.
- The CAC 40 (EWQ) is -0.2%. (PR)
French services PMI adds to manufacturing woe
Jan 6 2014, 04:01 ET