The IHS Markit France Composite PMI fell marginally to 52.0 in December 2019 from 52.1 in the previous month and matching the preliminary reading. The reading pointed to a modest expansion in the private sector, as manufacturing output growth slowed (PMI at 50.4 vs 51.7 in November) while services grew faster (PMI at 52.4 vs 52.2 in November. The rate of expansion in new orders ticked up from November while the rate of job creation eased to the softest for three months amid a broad-based slowdown at the sub-sector level. Finally, although firms anticipated a rise in activity during 2020, the degree of optimism was the weakest for six months. In December, several unions including transportation went on strike to protest against a reform of France’s pension system, which will see people need to work longer to get a full pension. Composite Pmi in France averaged 50.95 points from 2012 until 2019, reaching an all time high of 60.30 points in November of 2017 and a record low of 41.90 points in March of 2013. source: Markit Economics

Composite Pmi in France is expected to be 52.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in France to stand at 53.80 in 12 months time. In the long-term, the France Composite PMI is projected to trend around 54.20 points in 2020, according to our econometric models.

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France Composite PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.00 52.10 60.30 41.90 2012 - 2019 points Monthly


News Stream
2019-12-16
French Private Sector Activity Growth Stable
The IHS Markit France Composite PMI fell to 52 in December 2019 from 52.1 in the previous month and matching market forecasts, a preliminary estimate showed. The latest reading pointed to a softer expansion in the private sector, as manufacturing output growth slowed (PMI at 50.3 vs 51.7 in November) while services activities increased further (PMI at 52.4 vs 52.2 in November). New export orders advanced at a weakest pace in the current sequence and the job creation rate eased from a 13-month high. Meantime, outstanding business continued to grow at a faster pace and at the strongest since October 2018. On the price front, input prices continued to rise, extending the current run of inflation to nearly four years, and output cost inflation was little-changed. In December, several unions including transportation went on strike to protest against a reform of France’s pension system, which will see people need to work longer to get a full pension.

2019-12-04
French Private Sector Growth Slows in November
The IHS Markit France Composite PMI was at 52.1 in November 2019, down from a preliminary estimate and market forecasts of 52.7 and below October’s reading of 52.6. The reading pointed to a weaker expansion in the private sector, as services activities growth slowed (PMI at 52.1 vs 52.6 in October) while factory output accelerated to a five-month high (PMI at 51.7 vs 50.7 in October). New orders growth eased, amid a slower demand in the domestic market; while export sales increased and the rate of job creation accelerated to the strongest for just over a year. Finally, sentiment improved to a seven-month high, driven by strong confidence across both manufacturing and services firms.

2019-11-22
French Private Sector Growth at 3-Month High
The IHS Markit France Composite PMI rose to 52.7 in November 2019 from 52.6 in October and slightly below market expectations of 52.8, a preliminary estimate showed. The reading pointed to the fastest expansion since August, as factory growth quickened to a 5-month high (PMI at 51.6 from 50.7 in September) and services continued to expand firmly (PMI at 52.9, the same as in October). New orders grew the most in 3 months and export orders advanced for the second month running and at the fastest pace since June. Also, the rate of job creation was the quickest since October 2018 and solid overall. On the price front, both input inflation and output charge inflation softened slightly. Lastly, firms remained optimistic towards the one year business outlook in November, with sentiment at the strongest level for seven months.

2019-11-06
France Private Sector Activity Recovers
The IHS Markit France Composite PMI rose to 52.6 in October of 2019 from 50.8 in September, matching preliminary figures. Both manufacturing (50.7 from 50.1, the highest since June) and services (52.9 from 51.1) activity grew faster. Also, output and new order growth accelerated. At the sector level, the faster expansion was driven by services, where the rate of increase quickened and was solid overall. Also, new export business rose slightly and employment went up. The rate of job creation was marginally quicker than September, driven by the fastest workforce expansion at manufacturers for four months. Finally, business sentiment remained positive but was unchanged in October. A rise in optimism at service providers offset reduced confidence at manufacturers.

2019-10-24
French Private Sector Recovers in October
The IHS Markit France Composite PMI rose to 52.6 in October from 50.8 in September and well above market expectations of 51, a preliminary estimate showed. The solid rise in demand was evident as volumes of new business continued to increase. New export business rebounded, supported by growth in exports at both manufacturers and service providers. Meantime, employment growth quicker than in September, driven by faster rises in both the manufacturing and service sectors. At the same time, the rate of inflation accelerated from September, driven by a sharp rise in service sector operating expenses, while manufacturers recorded the quickest decrease in over three years. Finally, France’s companies maintained their optimism towards the business outlook.

2019-10-03
French Private Sector Growth at 5-Month Low
The IHS Markit France Composite PMI dropped to 50.8 in September 2019 from 52.9 in the previous month and below a preliminary estimate and market forecasts of 51.3, final data showed. The reading pointed to the weakest expansion in the private sector in five months, as factory output growth slowed (PMI at 50.1 vs 51.1 in August) and services activities fell to a 4-month low (PMI at 51.1 vs 53.4 in August). New orders rose at the softest pace since May and new export business dropped into contraction territory. Also, the rate of job creation eased to a five-month low amid a broad-based slowdown at the sector level. Lastly, sentiment improved driven by stronger confidence in services.


France Composite PMI
In France, the Markit France Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

France Business Last Previous Highest Lowest Unit
Business Confidence 102.00 102.00 124.00 66.00 points [+]
Manufacturing PMI 50.40 51.70 58.80 42.70 points [+]
Services PMI 52.40 52.20 62.90 40.20 points [+]
Composite Pmi 52.00 52.10 60.30 41.90 points [+]
Industrial Production 1.30 -0.10 12.10 -19.50 percent [+]
Industrial Production Mom 0.30 0.50 4.00 -5.00 percent [+]
Manufacturing Production 1.20 0.20 68.90 -27.10 percent [+]
Capacity Utilization 83.20 83.40 90.30 71.40 percent [+]
New Orders -11.50 -9.00 25.90 -65.20 points [+]
Bankruptcies 280.00 329.00 811.00 183.00 Companies [+]
Zew Economic Sentiment Index -3.70 -4.80 79.80 -63.90 [+]
Car Registrations 187399.00 178930.00 248642.00 99444.00 [+]
Internet Speed 10756.57 10015.55 10756.57 3070.86 KBps [+]
IP Addresses 29887339.00 27078127.00 29887339.00 14688459.00 IP [+]
Mining Production 6.50 -0.10 24.50 -27.50 percent [+]
Steel Production 1104.81 1169.75 2466.00 643.00 Thousand Tonnes [+]
Changes In Inventories 2537.00 2459.00 8684.00 -5730.00 EUR Million [+]
Competitiveness Index 78.81 78.01 78.81 5.05 Points [+]
Competitiveness Rank 15.00 17.00 23.00 15.00 [+]
Car Production 2269600.00 2227000.00 3701870.00 1740220.00 Units [+]
Ease of Doing Business 32.00 32.00 38.00 26.00 [+]
Electricity Production 43365.00 39844.00 61424.00 31896.00 Gigawatt-hour [+]
Corruption Index 72.00 70.00 75.00 63.00 Points [+]
Corruption Rank 21.00 23.00 26.00 18.00 [+]