The French service PMI worsened in January

On February 5, Jinshi Data News, a survey released on Wednesday showed that the contraction rate of France's service industry in January was faster than the preliminary value. Due to sustained weak demand and political uncertainty, commercial activities have declined for the fifth consecutive month. The final value of France's service PMI in January dropped from 49.3 in December last year to 48.2, further below the watershed of 50.0. Weak customer demand and political uncertainty are considered factors affecting output. Tarek Kamele Jodouri, an economist at Hamburg Commercial Bank, said: 'Some group members have stated that political uncertainty has suppressed economic activity, while others attribute the economic slowdown to weakened customer demand and declining confidence in the economic outlook.'