India, Feb. 21 -- France's private sector registered a deeper contraction in February as the drag from the service sector intensified, survey results from S&P Global revealed Friday.
The HCOB flash composite output index dropped unexpectedly to 44.5 in February from 47.6 in January. The score signaled the steepest fall since September 2023. The reading was seen at 48.0.
There were marked contractions in output across both manufacturing and services but the latest fall in composite activity entirely reflects the worsening performance of the services sector.
The services Purchasing Managers' Index slid to a 17-month low of 44.5 from 48.2 in January, while it was forecast to climb to 48.8.
Meanwhile, the manufacturing PMI hit a nine-month ...