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French manufacturing output declines as new orders fall at strongest rate since November 2020
The French manufacturing economy endured a challenging month in June as weakening demand conditions, persistent supply problems and an uncertain outlook all contributed to the first decrease in goods production since October 2021. Following steep increases in selling prices in recent months, latest survey data signalled the fastest drop in new business for over a year-and-a-half as clients grew hesitant to placing orders. Meanwhile, business confidence slipped to its lowest level in over two years. With production requirements diminishing and price pressures remaining elevated, firms scaled back input purchasing. ... (full story)