FX.co ★ France Manufacturing PMI Slips Below Growth Threshold in July

France’s manufacturing sector edged back into contraction territory in July, as the HCOB France Manufacturing PMI dipped to 49.8, down from 50.0 previously.

The indicator, which had stood exactly at the 50.0 mark in July 2026 — signaling a flat performance between expansion and contraction — has now slipped just below that threshold. While the decline to 49.8 is marginal, it suggests a slight weakening in operating conditions for French manufacturers after a period of stagnation.

The latest reading, updated on 3 August 2026, will be closely watched by investors and policymakers as they assess whether this minor pullback is a temporary pause or an early sign of renewed pressure on France’s industrial outlook.