The French manufacturing sector started the fourth quarter with a considerable deterioration in operating conditions, latest HCOB PMI® data showed, as new factory orders sank at a rate surpassed only by months during the COVID-19 pandemic and global financial crisis. Output subsequently fell sharply and at an accelerated pace, while concerns towards the outlook grew, pulling business confidence down to a three-and-a-half-year low. Companies continued to use backlogs to prop up production, leading to another marked alleviation of capacity pressures. However, this led firms to cut staffing numbers to the greatest ... (full story)