France Composite PMI

Last Release

Mar 31, 2024

Actual

48.3

Units In

Points

48.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
60.3 Nov 2017	11.1 Apr 2020	50.38 Points	2012-2024	Markit Economics

In France, the Markit France Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Latest Updates

The HCOB France Composite PMI was revised slightly upwards to 48.3 in March 2024, compared to the flash estimate of 47.7 and February's reading of 48.1. The latest reading still pointed to contraction in the private sector, albeit the softest over the current ten-month downturn. Both services (48.3 vs 48.4 in February) and manufacturing activity (46.2 vs 47.1) continued to shrink during the month, with manufacturers facing a more pronounced decline. Output recorded a milder decrease, while overall sales volumes fell at a stronger pace, amid subdued demand. Backlogs of work continued to decrease, albeit to the softest extent since July last year. In the meantime, private sector employment saw a marginal uptick, driven by services. On the price front, inflationary trends were broadly stable in March, with another sharp rise in input costs coinciding with only a fractional slowdown in the rate of output price inflation. Lastly, business confidence jumped to a 20-month high.