France’s services economy lost further momentum in August 2026, with the HCOB France Services Purchasing Managers’ Index (PMI) edging down to 48.4 from 49.6 in July. Updated data released on 21 August 2026 show the indicator moving further below the 50-point threshold that separates expansion from contraction.
The decline from July’s 49.6 reading to August’s 48.4 suggests intensifying weakness in activity across France’s services sector, which includes key industries such as finance, hospitality, transport, and business services. While the July figure already pointed to a marginal contraction, the latest reading indicates a more pronounced slowdown as the summer progressed.
With the PMI now further entrenched in contractionary territory, the August data may heighten concerns about the resilience of France’s broader economic recovery and the outlook for growth in the second half of 2026.
