França PMI Composto

The HCOB France Composite PMI edged up to 49.9 in April 2024, from 48.3 in the prior month, preliminary estimates showed. It was the best reading in 11 months, indicating a broad stabilization of business activity across France’s private sector economy and a notable movement towards exiting the contraction zone. The dominant services sector experienced the first expansion in almost a year (PMI at 50.5 vs 48.3 in March), helping to offset the continued downturn in manufacturing (PMI at 44.9 vs 46.2). Total new business volumes continued to decline during April, albeit to the weakest extent across the current one-year contraction. However, new export orders fell at the fastest rate in three months during April, amid reports of weakening demand from Germany, North America, and Africa. Meanwhile, there was a further expansion in employment, which was the quickest since last July. On the price front, cost pressures intensified. Lastly, business confidence eased from March’s 20-month high.