France Pmi Composite

The HCOB France Composite PMI fell to 44.8 in November 2024, from 48.1 in October and worse than market estimates of 48.3, preliminary estimates showed. This marks the 3rd consecutive month of contraction in the private sector and the steepest since January. The dominant services sector saw a steeper decline (PMI at 45.7 vs 49.2 in October) and manufacturing activity continued to shrink (PMI at 43.2 vs 44.5). New order volumes fell at the sharpest rate in four years, with survey participants attributing the weakness in demand to political and geopolitical uncertainties. A significant decline in new export business contributed to this downturn, marking the steepest drop in overseas orders since May 2020. More positively, private-sector employment saw a slight rebound. However, cost pressures intensified as input prices rose at their fastest pace in three months. French companies foresee the contraction continuing into 2025, with negative expectations for the first time since May 2020.