Heat of Trade Tensions Hits French Companies as Exports Drop
- Overall composite PMI declines, though still points to growth
- Manufacturing confidence falls to lowest level in a year
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An escalating trade spat between the U.S. and the European Union may be starting to leave its mark in France.
Exports of manufactured goods from the country dropped in July for the first time in almost two years, IHS Markit said on Tuesday, noting the decline coincides with reports that global trade tensions are weighing on external demand. A gauge of output in the private sector fell.