France services activity contracts faster in August
France services sector activity contracted more than expected in August due to weaker demand and extreme heat. The S&P Global France Final Services PMI declined to 48.0 points. Rising price pressures and falling new orders further impacted businesses.
Insights:
France's services activity contracted to 48.0 points in August from 49.6 in July, driven by weaker demand and extreme weather. The final reading missed the flash estimate of 48.4 points. The contraction underscores deepening economic headwinds across the eurozone's second-largest economy as business confidence deteriorates.
