French architecture in France

France PMI November 2023

France: Composite PMI stable in November

The HCOB Composite Purchasing Managers’ Index (PMI) came in at 44.6 in November, matching October’s print. As a result, the index remained entrenched below the 50.0 no-change threshold, signaling a sustained deterioration in private sector operating conditions from the previous month.

The Manufacturing PMI ticked up to 42.9 in November from October’s 42.8. Meanwhile, the Services PMI rose to 45.4 in November from October’s 45.2.

November saw another sharp decline in output in both the manufacturing and the services sector, as subdued demand spurred the seventh consecutive fall in new orders. In addition, rising spare capacity prompted the first decline in employment levels in three years. That said, the fall was solely driven by the manufacturing sector.

On the price front, input cost inflation softened, but remained historically elevated, while output charge inflation accelerated. Lastly, sentiment diverged across sectors: Manufacturers remained deeply pessimistic while service providers were moderately optimistic.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest