The HCOB France Composite PMI stood at 46.6 in August 2023, matching July's 32-month low and below market expectations of 47.5, preliminary estimates showed. The latest reading pointed to the third consecutive month of economic contraction in the eurozone's second-largest economy, occurring at a solid pace. The dominant services sector has experienced its third consecutive monthly decline, marking the most significant drop in two and a half years (PMI at 46.7 vs 47.1 in July). Meanwhile, manufacturing activity extended the decline that has been ongoing since last summer (PMI at 46.4 vs 45.1). Both output levels and new business declined faster amid the ongoing global weakness in demand. In the meantime, employment levels did show an increase in August, although the rate of job creation slowed down to its lowest point since January 2021. On the price front, rates of input cost and output charge inflation eased to 29- and 28-month lows, respectively. source: Markit Economics

Composite PMI in France averaged 50.63 points from 2012 until 2023, reaching an all time high of 60.30 points in November of 2017 and a record low of 11.10 points in April of 2020. This page provides the latest reported value for - France Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Composite PMI in France is expected to be 46.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Composite PMI is projected to trend around 54.50 points in 2024 and 53.60 points in 2025, according to our econometric models.

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France Composite PMI



Related Last Previous Unit Reference
Services PMI 46.70 47.10 points Aug 2023
Manufacturing PMI 46.40 45.10 points Aug 2023
Composite PMI 46.60 46.60 points Aug 2023

France Composite PMI
The HCOB France Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
46.60 46.60 60.30 11.10 2012 - 2023 points Monthly

News Stream
French Economic Downturn Persists
The HCOB France Composite PMI stood at 46.6 in August 2023, matching July's 32-month low and below market expectations of 47.5, preliminary estimates showed. The latest reading pointed to the third consecutive month of economic contraction in the eurozone's second-largest economy, occurring at a solid pace. The dominant services sector has experienced its third consecutive monthly decline, marking the most significant drop in two and a half years (PMI at 46.7 vs 47.1 in July). Meanwhile, manufacturing activity extended the decline that has been ongoing since last summer (PMI at 46.4 vs 45.1). Both output levels and new business declined faster amid the ongoing global weakness in demand. In the meantime, employment levels did show an increase in August, although the rate of job creation slowed down to its lowest point since January 2021. On the price front, rates of input cost and output charge inflation eased to 29- and 28-month lows, respectively.
2023-08-23
French Private Sector Downturn Deepens
The HCOB France Composite PMI came in at 46.6 in July 2023, matching an earlier estimate and below 47.2 in the previous month. The latest reading indicated a deepening contraction in business activity across the French private sector compared to the prior month, with the rate of decline the strongest since November 2020. Both the services (PMI at 47.1 vs 48 in June) and manufacturing (PMI at 45.1 vs 46) sectors contracted further. Total order book volumes shrank to the greatest extent in over two-and-a-half years in July. Export sales also weakened, with both manufacturers and services firms seeing a sharper drop in new business from foreign clients. Employment growth eased to its weakest seen so far this year, but business confidence improved from June's 32-month low. In terms of prices, the rates of input price and output charge inflation slowed to 28- and 27-month lows, respectively.
2023-08-03
France Private Sector Shrinks for 2nd Month
The HCOB France Composite PMI fell to 46.6 in July 2023 from 47.2 in June, below forecasts of 47.8, preliminary estimates showed. The reading pointed to the biggest contraction in private sector activity since November 2020, with both manufacturing and services output shrinking for a second straight month, although factory production continued to fall at a markedly stronger pace than services activity, amid weakness in demand and as clients are being deterred by higher prices. Meanwhile, total new business inflows fell the most in over two-and-a-half years while weaker sales meant firms had a greater reliance on backlogs of work to uphold activity levels. Nevertheless, private sector businesses continued to add to their workforce numbers. On the price front, input cost and output price inflation fell to 28- and 27-month lows respectively. Finally, there was a strengthening of business confidence amid expectations of growth to recent hiring activity, particularly in the service sector.
2023-07-24