FX.co ★ French Private Sector Downturn Softens in June

The S&P Global France Composite PMI rose to 47.6 in June 2026, up from 44.9 in May and above market expectations of 46, according to flash estimates. Although the reading signaled a sixth consecutive monthly contraction in private sector activity, the downturn was less severe than in May. Output in both manufacturing and services continued to fall, but at a slower pace, supported by a modest pickup in client demand. On the price front, cost pressures eased for the first time since February, yet inflation remained well above levels seen before the Middle East conflict. Business activity expectations also improved in June, breaking a five-month slide in sentiment. However, overall confidence stayed subdued amid elevated fuel prices, persistent tensions in the Middle East, and ongoing economic uncertainty.