Protests plunge French business activity into contraction: PMI [Reuters]
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Source: Reuters
Protests plunge French business activity into contraction: PMI | Reuters 3 Min Read PARIS (Reuters) - French business activity plunged unexpectedly into contraction this month, retreating at the fastest pace in over four years in the face of violent anti-government protests, a monthly survey showed on Friday. Data compiler IHS Markit said that its composite purchasing mangers index dropped to 49.3 points from 54.2 in November, sliding below the 50-point threshold between contraction and expansion for the first time since June 2016. The reading, the lowest since November 2014, also fell far short of economists’ average expectation for 54.0 in a Reuters poll. Companies have seen business drop after nearly a month of nationwide demonstrations that have triggered the most violent street protests seen in decades. The “yellow vest” movement, named after the high-vis vests French motorists must keep in their cars, started as a rebellion against since-scrapped fuel tax hikes into a broader mo
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