France Services PMI

Last Release

Mar 31, 2024

Actual

47.8

Units In

Points

48.4

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.9 Apr 2011	10.2 Apr 2020	51.25 Points	2008-2024	Markit Economics

The France Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 400 companies based in the French service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Latest Updates

The HCOB France Services PMI declined to 47.8 in March 2024 from 48.4 in February, missing market forecasts of 48.7, preliminary results showed. The latest reading pointed to the 10th period of contractions in the country's services sector. Both activity and sales dropped at a steeper pace amid client hesitancy, challenging economic conditions and inflationary pressures. However, employment continued to rise, resulting in a further reduction in backlogs of work. On the price front, input prices cooled to a 31-month low, but remained sharp and above their long-term trend due to continued reports of increasing salary expenses. Meanwhile, output prices continued to slow. Norman Liebke, economist at Hamburg Commercial Bank, said: "The French economy is delaying its recovery into at least the second quarter." However, he also noted the strong improvement in the services sector confidence as firms substantiated their positive belief to expectations of better economic conditions.