France Construction PMI

The S&P Global France Construction PMI rose to 42.2 in October 2024, up from a multi-year low of 37.9 in the prior month. Although the reading was the highest in five months, it still indicated a solid contraction in the construction sector. Residential building activity shrank at the slowest rate in ten months, civil engineering work declined moderately since September, while commercial construction experienced its sharpest drop in three months. Meanwhile, new orders continued to fall sharply, amid weak demand, with reports of fewer calls for tender, competition and lower new orders from public sector clients. Consequently, both purchasing activity and employment continued to be reduced. In terms of pricing, input price inflation reached a moderate ten-month high but remains well below the long-term average. Looking forward, surveyed companies grew more pessimistic about the 12-month outlook, with business sentiment reaching its lowest point since December 2023.