The HCOB France Services PMI shrank to 45.7 in November 2024, down from 49.2 in October and worse than the market expectations of 49, preliminary estimates showed. This marked the sharpest contraction in the French services sector since January, driven by political and economic uncertainty that dampened client spending. New orders posted a sharper fall, prompting French businesses to allocate more resources toward clearing backlogs of work. Subsequently, outstanding business volumes declined for the sixteenth consecutive month, marking the steepest reduction in four years. Meanwhile, employment in the sector saw a renewed uptick, recording the strongest hiring rate in six months. On the pricing front, cost pressures intensified. Input prices reached a three-month high, prompting service providers to raise output charges. Looking ahead, growth expectations turned pessimistic for the first time since May 2020, stemming from persistently weak demand. source: S&P Global
Services PMI in France decreased to 45.70 points in November from 49.20 points in October of 2024. Services PMI in France averaged 51.20 points from 2008 until 2024, reaching an all time high of 62.90 points in April of 2011 and a record low of 10.20 points in April of 2020. This page provides the latest reported value for - France Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Services PMI in France decreased to 45.70 points in November from 49.20 points in October of 2024. Services PMI in France is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Services PMI is projected to trend around 52.90 points in 2025 and 54.00 points in 2026, according to our econometric models.