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Investing.com -- French economic activity contracted in September at the sharpest rate since April, according to S&P Global data released Tuesday.
The HCOB Flash France Composite PMI Output Index fell to 48.4 in September from 49.8 in August, reaching a five-month low. A reading below 50 indicates economic contraction.
Manufacturing was particularly affected, with its headline PMI dropping to 48.1 from 50.4 in August, marking a three-month low. The manufacturing output index declined more severely, falling to 45.9 from 49.8, hitting a seven-month low.
The services sector also weakened, with its PMI decreasing to 48.9 from 49.8, a two-month low.
The economic downturn in the euro zone’s second-largest economy was primarily attributed to weak customer demand, with total new orders declining for the sixteenth consecutive month.
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