French business activity contracts at faster pace

|By:, SA News Editor

French services PMI dropped to 47.2 (flash 46.9) in February from 48.9 in January.

Composite output slipped to 47.9 (47.6) from 48.9.

New business and employment in the services sector fell at sharper rates, says Markit, while "weak client spending was again reported to have weighed on service providers' performance." However, "companies are hopeful of turning the corner in the foreseeable future."

The CAC 40 (EWQ) is -0.1%. (PR)