Having ended 2023 deep inside contraction territory, France’s economy began the new year with another marked month-onmonth reduction in private sector business activity. In fact, the downturn worsened in January as faster falls in output at both service providers and manufacturers led to the steepest overall rate of decline since last September. A ninth successive month of weakening demand was a major factor behind January’s contraction, placing the onus firmly on backlogs as the means to boost activity. Indeed, outstanding work volumes declined, as did employment and business confidence. The headline HCOB Flash ... (full story)