French private sector: downturn at the end of the third quarter

According to the latest HCOB PMI® survey results, France’s private sector economy contracted again at the end of the third quarter, following strong growth in the services sector in August. Overall business activity fell at the fastest pace since January as new orders continued to shrink. Survey respondents attributed this trend to deteriorating market conditions and a decline in the number of customers. Although backlogs of work fell at the fastest pace since November last year, employment showed a slight increase after a slight decline in the previous period.