The HCOB France Manufacturing PMI rose to 46.4 in August 2023, up from 45.1 in the previous month and coming above market expectations of 45, preliminary estimates showed. Still, it marked the seventh consecutive month of contraction in the French factory activity, due to an accelerated drop in demand and an extended decline in production, albeit the softest since March. Consequently, backlogs of work contracted at the sharpest rate in nearly three years. Nevertheless, employment continued to rise, although the rate of job creation was the weakest since January 2021. On prices, input cost shrank to its fastest pace in 14 years, leading to output charges falling. Looking ahead, French manufacturers were at their most pessimistic towards the 12-month outlook in over three years, weighed by anticipated lower production amid weak order book volumes. source: Markit Economics

Manufacturing PMI in France averaged 50.39 points from 2011 until 2023, reaching an all time high of 59.40 points in May of 2021 and a record low of 31.50 points in April of 2020. This page provides the latest reported value for - France Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in France is expected to be 47.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Manufacturing PMI is projected to trend around 53.60 points in 2024 and 51.90 points in 2025, according to our econometric models.

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France Manufacturing 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 Manufacturing PMI
The HCOB France Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index 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
46.40 45.10 59.40 31.50 2011 - 2023 points Monthly
SA

News Stream
French Factory Activity Contracts for 7th Month
The HCOB France Manufacturing PMI rose to 46.4 in August 2023, up from 45.1 in the previous month and coming above market expectations of 45, preliminary estimates showed. Still, it marked the seventh consecutive month of contraction in the French factory activity, due to an accelerated drop in demand and an extended decline in production, albeit the softest since March. Consequently, backlogs of work contracted at the sharpest rate in nearly three years. Nevertheless, employment continued to rise, although the rate of job creation was the weakest since January 2021. On prices, input cost shrank to its fastest pace in 14 years, leading to output charges falling. Looking ahead, French manufacturers were at their most pessimistic towards the 12-month outlook in over three years, weighed by anticipated lower production amid weak order book volumes.
2023-08-23
French Manufacturing Sector Shrinks the Most in Over 3 Years
The HCOB France Manufacturing PMI came in at 45.1 in July 2023, slightly up from a preliminary estimate of 44.5. However, the latest reading still indicated a sustained and accelerated deterioration in the health of France's manufacturing sector, marking the steepest decline since May 2020. Both output and new orders experienced contraction for a 14th consecutive month, with new export orders plummeting at the quickest rate in over three years. Additionally, employment levels declined for a second successive month and by the most significant margin in nearly three years, while destocking trends persisted. On the price front, input costs fell the most in 11 years, while prices charged declined at the fastest pace since April 2020. Lastly, manufacturers maintained their pessimistic outlook towards output over the next 12 months, citing weak demand, competitive pressures, inflation, and higher interest rates as contributing factors.
2023-08-01
France Manufacturing PMI at 3-Year Low
The HCOB France Manufacturing PMI fell to 44.5 in July of 2023 from 46 in the prior month, pointing to the 11th consecutive month of contraction in the French manufacturing activity and the sharpest since the pandemic-drive crash in the second quarter of 2020 as the sector continued to struggle with higher borrowing costs set by the ECB. Production volumes continued to fall at a significant pace, with the extended clearance of work backlogs failing to offset the marked decline in new orders. Consequently, the hiring growth pace fell to its lowest year-to-date. In the meantime, lower prices for raw materials and improved supply chains drove both input costs and output charges to decline significantly for manufacturers. Looking ahead, factories remained pessimistic about business prospects for the upcoming year, although the extent of negativity fell slightly since June.
2023-07-24