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French manufacturing output declines at steepest rate since May 2020
France's manufacturing sector remained under intense pressure during November, according to the latest HCOB PMI® survey, conducted by S&P Global, as another rapid deterioration in new orders led production volumes to fall at the fastest rate since May 2020. Expectations towards the next 12 months were once again pessimistic, leading firms to continue cutting employment sharply. Firms also downwardly adjusted their inventories, with stocks of purchases falling at the fastest rate in three-and-a-half years. The seasonally adjusted HCOB France Manufacturing Purchasing Managers’ IndexTM (PMI®), compiled by S&P ... (full story)