France’s private sector economy endured a challenging month in June, flash HCOB PMI data revealed, as a solid and renewed decrease in total new orders pulled output further into contraction territory. This marked yet another setback for the euro area’s second-largest economy at the end of the first half of 2024, with April’s expansion (which was the first in almost a year) now offset by two consecutive months of declining business activity. Other indicators from the survey also softened in June. Employment growth eased to a three-month low, while backlogs of work fell at an accelerated pace. There was also a drop in ... (full story)