French Business Activity Slowed in October French private-sector output barely grew in October, a survey showed Thursday, in a fresh sign of the fragility of the euro zones economic recovery. Data firm Markits preliminary October composite purchasing managers index fell to 50.1 from 50.5 in September. A reading below 50 indicates economic activity is shrinking. The services PMI fell to 50.2 from 51.0, while the PMI for manufacturing fell to 49.4 from 49.8 to hit a four-month low. The survey indicated that activity is unlikely to pick up strongly in coming months, with new orders falling as businesses reported that their customers were taking a wait-and-see approach to the incipient recovery. And while the survey found that for the first time in 19 months, businesses were hiring additional workers, Markit said the addition to payrolls had been negligible.
Posted on: Thu, 24 Oct 2013 07:46:43 +0000
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