FX.co ★ French Services Sector Stalls as HCOB PMI Holds Steady at 49.6 in February

The latest HCOB France Services PMI reading for February 2026 shows no change in momentum for the country’s services sector, with the index holding at 49.6. The unchanged figure, matching the previous reading of 49.6 also recorded in February 2026, keeps the indicator just below the 50.0 threshold that separates expansion from contraction.

The flat reading suggests that France’s services activity remains in marginal contraction territory, neither worsening nor improving on a monthly basis. The lack of movement in the index may indicate lingering headwinds for service providers, with demand conditions and business activity yet to recover sufficiently to push the sector back into growth.

The data, updated on 4 March 2026, will likely be watched closely by investors and policymakers for signs of whether the French services sector can soon regain expansionary footing or remains stuck in a low-growth pattern.