Prelim 52.9 Composite PMI 50.2 vs 50.0 Prelim Prelim 51.2 A slightly better revision, but still confirms that business activity in France is slowing down as the general economic situation is somewhat stagnant. Inflationary pressures remain high, while business confidence has fallen to its lowest level since late 2020. SandP Global notes that: „France’s manufacturing sector is sinking deeper into contraction, but the services sector has been left to maintain growth. So far, just about. So the aggregate manufacturing index rose just above the important 50.0 level in October, but there’s weakness there in the services sector.” Both production and new orders grew only slightly in October and well below the long-term average.

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