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France Services PMI
Last Release
Mar 31, 2024
Actual
47.8
Units In
Points
Previous
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.
France Services PMI History
Last 12 readings