FX.co ★ French Private Sector Faces Prolonged Contraction

In March 2025, the HCOB France Composite PMI recorded a figure of 47, rising from February's 45.1 and exceeding market expectations of 46.5, according to preliminary estimates. This data marks the seventh consecutive month of contraction in France's private sector, although the decline was less severe compared to the previous month. Manufacturing activity experienced a slight downturn, with its PMI at 48.9, improving from 45.8 in February, reflecting the mildest rate of contraction since the trend began in June 2022. Meanwhile, the services sector, with a PMI of 46.6 compared to 45.3 previously, remained the primary driver of the economic slowdown in March. Business outlook remained bleak, with confidence plummeting to its lowest point in nearly five years.