Economics
France’s Economic Recovery Stumbles as Covid-19 Cases Surge
- Composite PMI unexpectedly falls to a four-month low
- Some firms hesitant to hire on fears of a second lockdown
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France’s economic recovery stumbled this month, with a report showing a decline in activity, demand and employment in the private sector.
IHS Markit’s composite Purchasing Managers Index unexpectedly fell to a four-month low of 48.5 from 51.6 in August, with services leading the decline. That’s below the key 50 line and compares with forecasts for a reading of 51.9.