France January flash services PMI 45.0 vs 46.0 expected ...Middle East

Prior 45.7Manufacturing PMI 43.2 vs 42.5 expectedPrior 42.1Composite PMI 44.2 vs 45.2 expectedPrior 44.8That's a 4-month low in France's services sector activity and it reaffirms a continued contraction in the economy to start the new year. Even though the manufacturing print is the highest in four months, manufacturing output actually fell on the month down to a 44-month low. Once again, softer demand conditions is the main culprit for the drag in activity. Adding to the conundrum for the ECB is that price pressures are seen intensifying with higher wages being one of the sources. HCOB notes that:“The French economy is kicking off 2024 on a slow note. The latest HCOB Flash PMIs show a depre

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