India, March 24 -- France's economic downturn continued in March but the pace of decline slowed moderately driven by tentative signs of recovery in the manufacturing sector, flash survey results published by S&P Global showed on Monday.
The HCOB composite output index posted a two-month high of 47.0 in March, up from 45.1 in February.
However, a reading below 50.0 indicates contraction. The private sector has contracted for the seventh straight month.
The survey showed that both the manufacturing and service sectors posted shallower contractions in output at the end of the first quarter. The services Purchasing Managers' Index rose more-than-expected to 46.6 in March from 45.3 in the prior month. The reading was seen at 46.3.
At 48.9, t...