PARIS, November 6 (Reuters) – The contraction in activity in the services sector in France continued in October due to weak demand, shows the S&P Global/HCOB business survey published on Monday.
The services index for the month of October stood at 45.2 compared to 44.4 in September. In a first estimate, it was given at 46.1, while the bar of 50 separates contraction and expansion of activity.
The composite index, which combines services and the manufacturing sector, stood at 44.6 compared to 44.1 in September and a “flash” estimate of 45.3.
“The French services sector is suffering a hard blow linked to weak demand. New orders and orders from abroad are falling rapidly, leading to a sharp decline in commercial activity,” underlined Norman Liebke , economist at Hamburg Commercial Bank. (Reporting Sudip Kar-Gupta; French version Claude Chendjou, editing by Kate Entringer)
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