Frances economy declines even further in wake of Paris attacks as hotels and restaurants report a wave of cancellations

France's economy declines even further in wake of Paris attacks as hotels and restaurants report a wave of cancellations

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Desperate times: Hotels and restaurants in France have reported a wave of cancellations

Desperate times: Hotels and restaurants in France have reported a wave of cancellations

France's ‘moribund’ economy has slowed even further in the aftermath of the terrorist atrocities in Paris.

Hotels and restaurants reported a wave of cancellations after the attacks on the French capital on November 13, which left 130 people dead and put the country in a state of emergency.

Research group Markit’s index of activity among private businesses, where scores above 50 show growth, slipped from 52.6 in October to a three-month low of 51 in November. 

France was the only country in the eurozone monitored by Markit to suffer a slowdown last month.

Growth in Germany was the fastest for eight months, while the recovery in Italy, Spain and Ireland also picked up. 

Chris Williamson, chief economist at Markit, said: ‘With the exception of France, growth rates are moving higher. Business activity [in France] remains moribund.’

Paris Graphic.jpg Paris terror attacks lead investors to ditch shares in... Mario Draghi, President of the European Central Bank (ECB), addressing the media during the press conference following a meeting of the ECB Governing Council in Frankfurt am Main, western Germany. Some of the debt-wracked eurozone countries are making "very substantial, very significant" progress on getting their finances in order, Draghi said.        AFP PHOTO / DANIEL ROLAND (Photo credit should read DANIEL ROLAND/AFP/Getty Images)
12/01/2012 Investors hit as stock market dives into the red and euro... Share this article Share

 

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