Europe’s second largest economy, France, has begun to slow down
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France’s Manufacturing Output Index fell to 49 from 49.5 at the end of July. This is stated in the express assessment of S&P Global published on August 23. Before that, at the end of July, a sharp drop in manufacturing activity (for the first time in 25 months since 2020) was recorded in Germany (to 48 points compared to 51.3 points in June). Similar tendencies “threaten the collision of all European economies with difficulties at the end of the year,” according to S&P.
The composite index of industrial production in France (PMI Composite Output Index) in August, according to S&P, fell to an 18-month low – 49.8 points compared to 53.2 in July. The rate of new capacity commissioning at French private sector firms declined in August for the first time since February 2021.
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