FX.co ★ France Services Sector Edges Up in June

France’s S&P Global Services PMI rose to 46.8 in June 2026, up from 44.3 in May but revised down from the preliminary estimate of 47.4. This marked the first increase since February, indicating that the contraction in services activity was easing, though the index remained below the 50.0 threshold that separates expansion from contraction. The declines in output and new orders slowed to their weakest pace since March, as firms continued to report subdued demand, elevated prices, and the conflict in the Middle East as main headwinds. However, there were early signs of improvement in export demand. Employment fell for the fifth consecutive month, but the rate of job losses moderated. On the cost side, input price inflation eased to a three-month low, despite ongoing increases in fuel, energy, and wages, while output price inflation also softened. Business confidence improved slightly, following four consecutive months of deteriorating sentiment.