FX.co ★ French Construction Slump Deepens as HCOB PMI Slips Further in April

France’s construction sector remained in contraction territory in April, with conditions deteriorating slightly month‑on‑month, according to the latest HCOB France Construction Purchasing Managers’ Index (PMI).

The index eased to 38.1 in April 2026, down from 38.4 in March 2026. Both readings sit well below the 50-point threshold that separates expansion from contraction, signalling a continued and pronounced downturn in activity across the French construction industry. The April data, released on 7 May 2026, indicate that the sector’s decline has not yet stabilised, with the month‑over‑month comparison showing a marginal worsening in sentiment and output relative to March.

The update confirms that the weakening trend visible in March—when the PMI stood at 38.4 compared with February—is persisting, underscoring ongoing pressure on construction demand and workloads as the second quarter gets under way.