After four consecutive monthly expansions in private sector business activity, the French economy endured a disappointing end to the second quarter as output levels fell for the first time since the start of 2023. According to the latest HCOB flash PMI data, compiled by S&P Global, a worsening decline in manufacturing production was accompanied by a renewed reduction in activity across the services economy. Subsequently, the overall level of output in France declined at the strongest pace since February 2021. Driving June’s slump in activity was a further and faster deterioration in demand, particularly from ... (full story)