The first estimate of S
At 44.6, the indicator is revised down significantly compared to the first estimate (45.3). A number above 50 indicates an expansion in activity, while a number below this threshold indicates a contraction. In September, the indicator stood at 44.1, its lowest level in 34 months. It therefore “only recovered very slightly” in October, note S
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“The creation of positions in the services sector (have) made it possible to counterbalance an acceleration in the decline in the workforce in the manufacturing sector,” it is detailed in the press release. “The overall volume of new business,” in other words orders placed with industrial and service companies, “declined sharply again in October.” The decline in demand addressed to the private sector was “more significant” in industry than among service providers, S further specifies.