France PMI data falls sharply
France's services PMI dropped to 46.2, significantly below market expectations of 48.4.
The index declined by 2.2 points from its previous reading of 48.4, signaling a faster contraction in the services sector.
Meanwhile, the composite PMI fell to 46.6, missing both the 48.4 forecast and the previous reading of 48.4. Both indicators remained below the 50-point threshold, signaling continued contraction in French economic activity. The weaker data could raise concerns about economic growth and influence European Central Bank (ECB) interest-rate expectations.
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