FX.co ★ French Private Sector Downturn Unexpectedly Worsens

The S&P Global France Composite PMI slipped to 48.8 in August 2026 from 49.4 in July, coming in below market expectations of 49.5, according to flash estimates. The reading signaled an eighth straight monthly decline in private sector activity, with the pace of contraction accelerating compared with the previous month. The downturn was driven entirely by the services sector, while manufacturing output increased for the first time since April. Some firms reported that extreme heat had weighed on business activity.