Conditions in the French manufacturing sector continued to deteriorate at the start of the second quarter, latest HCOB PMI® data showed. Notably, the pace of contraction quickened, reflecting steeper falls in the headline index's two main components — new orders and output. Weaker demand drove firms to their backlogs as a method to support production lines, although workforce numbers nevertheless shrank as companies adjusted to lower business requirements. That said, growth expectations ticked up to a one-year high. The latest survey data also highlighted returning cost pressures as input prices rose at the fastest ... (full story)