FX.co ★ French Construction Downturn Deepens

The S&P Global France Construction PMI dropped to 38.8 in October 2026, down from 39.8 in September, deepening the downturn that has persisted since June 2022. The latest reading reflects a sustained sharp fall in new orders, which continued to depress purchasing activity and employment levels across the sector.

Despite softer demand for construction materials, supplier delivery times lengthened further, pointing to ongoing supply-side frictions. On the cost front, input price inflation quickened to its highest pace in five months.

All three main construction segments posted marked contractions. Residential construction remained the worst-performing area, while civil engineering activity declined at an accelerated rate. Commercial construction also fell substantially, though its rate of contraction slowed to the weakest since May.

Looking ahead, French construction firms remained downbeat about the 12‑month outlook. Many cited political uncertainty ahead of the 2027 presidential election as a key factor expected to weigh on future activity.