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French business activity contracts at faster pace

  • French flash manufacturing PMI has slipped to 48.5 in February from 49.3 in January and missed consensus of 49.3.
  • Services dropped to 46.9 from 48.9 and vs 49.4.
  • Manufacturing output increased to 50.5 from 48.8.
  • Composite output slipped to 47.6 from 48.9.
  • While the contraction in French business activity accelerated, there were some positive developments, says Markit, including the confidence of service providers rising to a 23-month high.
  • The CAC 40 (EWQ) is -0.8%. (PR)
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