France’s economy recorded another steep reduction in business activity midway through the fourth quarter, latest HCOB PMI® data showed, extending the current period of continuous contraction seen since June. Demand for French goods and services also worsened at the fastest pace in three years in November, while backlogs of work were depleted further. Businesses’ expectations towards the next 12 months deteriorated, contributing to the first month of job cutting since late-2020. On the prices front, cost pressures were little-changed from October, with input costs still rising sharply. Selling price inflation ticked ... (full story)