The downturn in France’s economy gathered pace in September as private sector business activity levels fell at the strongest pace since November 2020. Furthermore, sector data reflected the broad-based weakness of France’s economy as declines in both manufacturing and services accelerated markedly since August. Frequent reports from panel members of poor demand conditions, a key factor behind September’s steep fall in activity, were corroborated by the latest HCOB PMI data, which showed the quickest decline in new orders since November 2020. The worsening business climate weighed on firms’ outlook for the coming 12 ... (full story)