FX.co ★ French Private Sector Slump Deepens as April HCOB Composite PMI Slides to 47.6

France’s private sector activity weakened further in April, as the HCOB France Composite PMI fell to 47.6, down from a previous reading of 48.8. The latest figure, covering April 2026 and updated on 06 May 2026, points to a sharper contraction in overall business conditions.

With the index remaining below the 50.0 threshold that separates expansion from contraction, the decline signals mounting pressure on both services and manufacturing activity. The drop from 48.8 to 47.6 suggests that the slowdown in output and new business has intensified, underscoring continued headwinds for the French economy as the second quarter of 2026 gets underway.