French private sector output accelerated further in May. The Markit Flash France Composite Output Index, based on around 85% of normal monthly survey replies, registered 44.7, down from 45.9 in the previous month, its lowest reading since April 2009. Marked declines in activity were recorded in both the manufacturing and service sectors during May. In the former, output decreased at the fastest pace in three years, while in the latter the rate of contraction was unchanged from April’s substantial pace. Lower activity reflected a further marked reduction in new business during May. The latest drop in new work was at a ... (full story)