French S&P Global Services PMI Final (Oct) 46.2 vs. Exp. 48.4 (Prev. 51.2)
ORIGINAL · NewsquawkFrench S&P Global Services PMI Final (Oct) 46.2 vs. Exp. 48.4 (Prev. 51.2)Read originalHide original
"The French economy is showing its fragility. Political instability is nothing new for French businesses, but they are looking to the near-term outlook with the greatest level of concern since 2013, if we exclude the initial COVID-19 outbreak months." "There were reports of a stalling of domestic demand and investment activity in October as clients placed decisions on hold. There was, however, a cooling of services price pressures. Prices charged rose only slightly and by a much softer margin than in September."
The October French Services PMI was below expectations and its previous reading; the report also noted elevated business concern, stalled demand and investment, and softer services price increases.
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"The French economy is showing its fragility. Political instability is nothing new for French businesses, but they are looking to the near-term outlook with the greatest level of concern since 2013, if we exclude the initial COVID-19 outbreak months." "There were reports of a stalling of domestic demand and investment activity in October as clients placed decisions on hold. There was, however, a cooling of services price pressures. Prices charged rose only slightly and by a much softer margin than in September."
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