PARIS (Reuters) – French business activity fell in October at the fastest pace in five months as the service sector pulled back in the face of new coronavirus restrictions, a monthly survey showed on Wednesday.
Data compiler IHS Markit said its Purchasing Managers’ Index (PMI) fell to 47.5 from 48.5 in September, marginally better than a preliminary reading of 47.3.
The index dropped further away from the 50-point threshold dividing an expansion in activity from a contraction to hit its lowest level since May, when France emerged from a first lockdown to contain the coronavirus outbreak.
“The results point to a worrying trend for business activity, showing that the recent surge in infections and the introduction of new restrictions have already negatively impacted the economy,” IHS Markit economist Eliot Kerr said.
Video: September factory orders rise 1.1