FX.co ★ French Private Sector Activity Falls at Quickest Pace Since April

In September 2025, the HCOB France Composite PMI declined to 48.1, slightly below the preliminary estimate of 48.4 and a decrease from 49.8 in August. This data indicates the 13th consecutive month of contraction within the private sector, marking the most significant decline since April. Both the manufacturing and services sectors experienced accelerated declines in output; however, new business decreased at a slower rate compared to August. Despite these downturns, employment growth continued, with job increases observed across both sectors. Input costs showed a strong upward trend, while output prices dropped for the first time since May. On a positive note, business confidence improved, with growth expectations reaching their highest level in three months.