Key facts
- The S&P Global France Services PMI Business Activity Index fell to 46.2 points in October from 51.2 in September.
- The final October services reading of 46.2 points was below the flash October figure of 48.4 points.
- The S&P Global France Composite PMI fell to 46.6 in October from 51.1 in September, also the fastest decline since May.
- The final October composite figure of 46.6 points was below the flash October reading of 48.4 points.
- INSEE data showed French consumer confidence fell to its lowest level since June 2013, impacted by the demonstrations, Reuters reported.
France's services sector contracted in October at its fastest pace since May, as protests contributed to a drop in domestic demand, a business survey showed on Wednesday.
The S&P Global France Services PMI Business Activity Index fell to 46.2 points in October from 51.2 in September. A reading above 50 points shows growth in activity, while below 50 points indicates a contraction. The final October services figure was also worse than the flash October reading of 48.4 points.
The S&P Global France Composite PMI, which combines the services and manufacturing sectors, fell to 46.6 from 51.1, also the quickest decline in activity since May. The final October composite figure of 46.6 was worse than the flash October reading of 48.4 points.
Data last month from the official INSEE statistics agency showed French consumer confidence had fallen to its lowest level since June 2013, impacted by the demonstrations.
"There were reports of a stalling of domestic demand and investment activity in October as clients placed decisions on hold," said Joe Hayes, senior principal economist at S&P Global Market Intelligence. "Against a backdrop of social unrest and surging government bond yields, both activity levels and new business in the service sector fell at the fastest rates since May," he added.