The French private sector moved closer to growth territory in February, as the HCOB France Composite PMI rose to 49.9, up from 49.1 in January 2026. The latest reading, updated on 20 February 2026, suggests that overall business activity is nearing the expansion threshold of 50, hinting at stabilisation after a period of subdued momentum.
Although the index remains marginally below the key 50-point mark that separates contraction from expansion, the improvement from January underscores a gradual easing in the downturn across France’s combined manufacturing and services sectors. Investors and policymakers will be watching upcoming releases closely to assess whether this nascent recovery can consolidate into a sustained upswing in the coming months.
