05.11.202509:10:53UTC+00France Composite PMI Revised, Still Contraction Persists

The HCOB France Composite PMI for October 2025 was revised upward to 47.7, exceeding the initial flash estimate of 46.8, yet still below September's figure of 48.1. This revision indicates the 14th straight month of contraction in private sector activity, marking the most significant downturn since February. It reflects continuous declines in both the services sector, with a PMI of 48 compared to 48.5 in September, and the manufacturing sector, which saw a slight increase to 48.8 from 48.2. The recent data highlights a persistent weakness in domestic demand, with only a slight mitigation due to a reduced drop in exports. Companies continued to hire staff for the third consecutive month, leading to a decrease in backlogs; however, manufacturers faced renewed pressure from outstanding orders. Business confidence declined, and despite input cost inflation reaching its lowest point in nearly five years, service providers were able to increase output prices by leveraging stronger pricing power.