French Private Sector Sinks More Than Expected on Political Mess
The French private sector experienced a sharper-than-expected decline in activity, reaching a five-month low. This slump is attributed to the ongoing political instability in the country. The data, gathered from a survey of purchasing managers, indicates a slowdown in both the manufacturing and service sectors. Experts suggest that the political upheaval, including the recent resignation of Prime Minister Édouard Philippe, has contributed to the weakening of economic performance. The survey results point to a contraction in both output and new orders, signaling a potential impact on the broader French economy. Analysts emphasize the need for political stability and policy clarity to support the recovery of the private sector, which plays a crucial role in the country's economic growth.
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