The French Services Purchasing Managers’ Index (PMI) decreased to 49.2 points in January from 49.5 points in December 2022 vs. 49.7 expected.
The latest reading pointed to the third straight month of downturn in the country’s services sector and at the steepest pace since March of 2021.
New business inflows fell again in January, as demand continued to be squeezed by challenging economic conditions amid persistently high inflation and higher borrowing costs. More positively, the rate of job creation accelerated.