S&P Global Market Intelligence: French Manufacturing Demand Deteriorates, Business Confidence Hits 12-Month Low

According to Jin10, S&P Global Market Intelligence Chief Economist Joe Hayes said French manufacturing has failed to build real growth momentum. Demand conditions deteriorated sharply in October, further reducing the likelihood of a near-term recovery. Business confidence in the survey fell to a 12-month low. Continued supply-chain disruptions and high energy prices drove a sharp increase in cost pressures, limiting companies’ ability to improve competitiveness by lowering product prices. Employment, purchasing activity, and inventories all declined, indicating companies were pursuing cost-cutting strategies amid the ongoing global energy crisis and related geopolitical headwinds.