France Composite PMI

Last Release

May 31, 2023

Actual

51.2

Units In

Points

52.4

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	50.71 Points	2012-2023	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 down to 51.2 in May 2023 from a flash estimate of 51.4, and below 52.4 in April. It marks the 4th consecutive month of expansion in the private sector, although the slowest in the current sequence of growth. The weaker expansion was driven by a slowdown in the services sector (PMI at 52.5 vs 54.6 in April), which recorded softer growth in output, as well as a fall in new orders. Concomitantly, manufacturing activity contracted for a 4th consecutive month in May (PMI at 45.7 vs 45.6 in April). There was a renewed drop in new orders, with the rate of decline being the quickest since November last year, as demand waned across both sectors. Meanwhile, employment growth was sustained for the 29th consecutive month. On the price front, input inflation eased to a 23-month low, but selling prices accelerated. Finally, business confidence fell to a three-month low.