France's service sector contracted midway through the first quarter, although the rate of decline slowed markedly to the softest over the current nine-month downturn. The slower decrease in business activity came amid signs of recovery in demand as new export sales expanded for the first time since last May. Survey respondents also grew more optimistic towards the outlook for business activity, with growth expectations reaching a seven-month high. Meanwhile, although input costs increased at the slowest pace for two-and-a-half years, February's rise was marked by historical standards as wage pressures persisted. The ... (full story)