França PMI Industrial

The HCOB France Manufacturing PMI fell to 43.9 in August 2024, revising higher than initial estimates of 42.1, but down from 44 in July. This marked the sharpest contraction since January, as new orders decreased at the fastest pace since May 2020, while export orders sank to its fastest for three months. Additionally, firms lowered their production for the 27th straight month, with the pace of decline the fastest since January. As a result, employment declined for the 15th consecutive period and purchasing activity reduced sharply to its lowest level this year. On prices, input price inflation eased slightly from July's 18-month high but remained just above the survey's long-term average, while output price inflation rose at its fastest rate since March 2023. Lastly, French manufacturers turned pessimistic about the 12-month production outlook for the first time since January.