French Private Sector Sinks More Than Expected on Political Mess

French private-sector activity fell to the weakest level in five months as the country grappled with a fresh bout of political turmoil.

S&P Global’s Composite Purchasing Managers’ Index for Europe’s second-largest economy dropped to 48.4 in September from 49.8 the previous month. Analysts polled by Bloomberg had anticipated a smaller retreat, to a level much closer to the 50 mark separating expansion from contraction. The decline was driven by both services and manufacturing.