French private sector performance deteriorates further in October as demand falls

According to the latest HCOB PMI® survey, the economic situation in the French private sector deteriorated further in October as business activity contracted at the fastest pace since January. Similar to September’s results, both the manufacturing and services sectors reported lower output. The main reason for the contraction was the sharp and accelerating fall in new orders, which showed the sharpest decline so far this year. Detailed data showed a marked slowdown in demand from export markets, further weakening performance.