Manufacturing Pmi - FR Economic Data | Sigmanomics | Sigmanomics
France Manufacturing PMI
47.8
Actual
47.8
Consensus
48.8
Previous
France’s Manufacturing PMI for December 2025 matched expectations at 47.80, continuing the contraction trend below the 50 threshold. This reading is unchanged from November’s 47.80 but down from October’s 48.80, signaling persistent weakness in the sector. Looking ahead, ongoing monetary tightening and supply chain challenges suggest the manufacturing outlook remains cautious, with limited near-term growth prospects. Updated 12/1/25
Manufacturing Pmi - FR
Loading chart data...
Listen to: France Manufacturing PMI
France Manufacturing PMI December 2025: Signs of Contraction Amid Lingering Headwinds
Key Takeaways: France’s Manufacturing PMI for December 2025 held steady at 47.80, signaling ongoing contraction in the sector. This marks a decline from the 50.40 peak in September and remains below the 12-month average of 48.70. Persistent supply chain disruptions, cautious domestic demand, and geopolitical uncertainties weigh on output. Monetary tightening and fiscal restraint add pressure, while external shocks and financial market volatility cloud near-term prospects. The data suggests a cautious outlook for French manufacturing, with downside risks prevailing but some upside potential if inflation eases and global trade stabilizes.
The latest Manufacturing PMI for France, released on December 1, 2025, registered at 47.80, unchanged from the November reading but below the 50 threshold that separates expansion from contraction. This figure aligns with the Sigmanomics database’s recent trend showing subdued manufacturing activity amid a challenging macroeconomic environment.
Drivers this month
Supply chain delays persisted, limiting production capacity.
Domestic demand remained cautious due to inflationary pressures.
Export orders weakened amid global trade uncertainties.
Policy pulse
The PMI remains below the neutral 50 mark, signaling contraction that complicates the Banque de France’s inflation-targeting efforts. The central bank’s recent rate hikes aim to temper inflation but risk further dampening manufacturing output.
Market lens
Following the release, the EUR/USD currency pair saw a mild depreciation of 0.15%, reflecting market concerns over slower industrial growth. Short-term yields on French government bonds edged higher, pricing in persistent economic headwinds.
Manufacturing PMI is a leading indicator of industrial health and economic momentum. France’s current PMI of 47.80 compares unfavorably to the 12-month average of 48.70 and the September peak of 50.40, highlighting a clear downward trend over the past quarter.
Monetary policy & financial conditions
With the European Central Bank maintaining a hawkish stance, borrowing costs have risen. The tightening cycle, reflected in higher short-term interest rates, constrains capital investment in manufacturing. The Sigmanomics database shows a correlation between rising policy rates and PMI declines over the past year.
Fiscal policy & government budget
France’s fiscal policy remains cautious, with limited stimulus measures to support manufacturing. Budgetary restraint amid high public debt levels restricts government capacity to offset private sector weakness.
External shocks & geopolitical risks
Ongoing geopolitical tensions in Eastern Europe and supply chain disruptions from Asia continue to pressure French manufacturers. Energy price volatility also adds cost uncertainty, affecting margins and investment decisions.
The December 2025 Manufacturing PMI for France stands at 47.80, unchanged from November but down from 48.80 in October and well below the 12-month average of 48.70. This steady contraction contrasts with the brief expansion phase seen in September (50.40), underscoring a loss of momentum in industrial activity.
New orders and output subindices both declined, reflecting weaker demand domestically and abroad. Employment levels also contracted, indicating cautious hiring amid uncertain prospects.
This chart highlights a clear downward trend in French manufacturing since the summer peak. The persistent sub-50 readings suggest the sector is struggling to regain growth, with risks tilted to the downside unless inflation and supply issues ease.
Market lens
Immediate reaction: EUR/USD dipped 0.15% within the first hour post-release, while French 2-year bond yields rose 5 basis points, reflecting investor caution on growth prospects.
Looking ahead, the manufacturing sector faces a complex mix of headwinds and potential tailwinds. The baseline scenario forecasts continued contraction with PMI hovering near 47–48 over the next quarter (60% probability). This assumes persistent inflation, cautious consumer spending, and ongoing supply chain challenges.
Bullish scenario (20% probability)
Inflation moderates faster than expected, easing cost pressures.
Supply chains normalize, boosting output and new orders.
Global trade stabilizes, supporting export growth.
Monetary policy will remain a key determinant. Any pivot by the ECB toward easing could provide relief, but current signals suggest continued vigilance against inflation.
France’s manufacturing PMI data for December 2025 confirms a sector under pressure. The steady contraction reflects broader macroeconomic challenges, including tight monetary policy, fiscal caution, and external uncertainties. While some stabilization is possible if inflation eases and supply chains improve, risks remain skewed to the downside.
Investors and policymakers should monitor inflation trends, ECB policy signals, and geopolitical developments closely. The manufacturing sector’s health will be a bellwether for France’s broader economic trajectory in 2026.
Key Markets Likely to React to Manufacturing PMI
The Manufacturing PMI is a critical gauge of economic momentum, influencing equity, currency, and bond markets. Stocks in industrial sectors, the euro currency, and French sovereign debt typically respond to PMI shifts. Below are key tradable symbols with historical sensitivity to France’s manufacturing data:
MC.PA – LVMH stock, sensitive to consumer demand and industrial supply chains in France.
EURUSD – Euro-dollar pair, reacts to economic data and ECB policy expectations.
SIE.DE – Siemens, a proxy for European industrial manufacturing trends.
BTCUSD – Bitcoin, often viewed as a risk sentiment barometer amid macro uncertainty.
GBPUSD – British pound-dollar pair, influenced by regional trade dynamics affecting France.
Insight Box: France Manufacturing PMI vs. EURUSD Since 2020
Since 2020, France’s Manufacturing PMI and EURUSD have shown a moderate positive correlation. Periods of PMI expansion often coincide with euro strength, reflecting improved economic outlooks. For example, the PMI peak in mid-2023 aligned with EURUSD rising above 1.12. Conversely, PMI contractions have coincided with euro weakness, as seen during the 2024 inflation shocks. This relationship underscores the PMI’s role as a forward-looking economic indicator influencing currency markets.
FAQs
What does the France Manufacturing PMI indicate?
The France Manufacturing PMI measures the health of the manufacturing sector, with readings above 50 indicating expansion and below 50 contraction.
How does the Manufacturing PMI affect the French economy?
The PMI signals industrial activity trends, influencing GDP growth forecasts, employment, and investment decisions in France.
Why is the Manufacturing PMI important for investors?
Investors use the PMI to gauge economic momentum, adjust portfolios, and anticipate central bank policy moves.
Takeaway: France’s manufacturing sector remains in contraction, pressured by inflation, monetary tightening, and external risks. The outlook is cautious, with potential for stabilization if key headwinds ease.
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
Economic Calendar - FR Events
Friday, August 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate YoY
1.9
2.3
1.8
1.80
High
06:45
FR
Inflation Rate MoM
0.6
0.2
0.5
0.50
Medium
06:45
FR
Household Consumption MoM
0.3
-0.6
0.5
0.58
Low
05:30
FR
Non Farm Payrolls QoQ
0
0.3
0.1
0.13
Low
05:30
FR
Private Non Farm Payrolls QoQ
0
0.3
0
-0.02
Low
Wednesday, August 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Unemployment Benefit Claims
-26.1
18.2
12
16.85
Medium
10:00
FR
Jobseekers Total
2808.4
2834.5
2846.5
2842.78
Low
06:45
FR
Consumer Confidence
92
91
92
92.17
Medium
Friday, August 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Business Confidence
99
95
96
95.67
Medium
06:45
FR
Business Climate Indicator
97
94
96
95.67
Low
Thursday, August 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Manufacturing PMI
42.1
44
44.4
43.72
High
07:15
FR
HCOB Services PMI
55
50.1
50.3
51.13
High
07:15
FR
HCOB Composite PMI
52.7
49.1
49.1
49.73
Medium
Wednesday, August 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.2
0.1
0.1
0.10
Medium
06:45
FR
Inflation Rate YoY
2.3
2.2
2.3
2.30
Medium
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.2
0.1
0.10
Low
06:45
FR
Harmonised Inflation Rate YoY
2.7
2.5
2.6
2.60
Low
Friday, August 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
Unemployment Rate
7.3
7.5
7.5
7.50
Medium
Wednesday, August 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Balance of Trade
-6.1
-7.7
-7.5
-7.77
Medium
06:45
FR
Imports
57.7
57.8
61.2
60.67
Low
06:45
FR
Exports
51.7
50
51.7
51.52
Low
06:45
FR
Current Account
-2.6
-2.5
-1.4
-2.47
Low
Tuesday, August 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
39.7
41
41.5
39.77
Low
06:45
FR
Private Non Farm Payrolls QoQ
0
0.3
0.2
0.18
Low
Monday, August 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Composite PMI
49.1
48.8
49.5
50.13
Low
07:50
FR
HCOB Services PMI
50.1
49.6
50.7
51.53
High
Friday, August 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-103.5
-113.5
-130
-130.60
Low
06:45
FR
Industrial Production MoM
0.8
-2.2
1
0.70
Medium
Thursday, August 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
44
45.4
44.1
43.42
High
Wednesday, July 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate YoY
2.3
2.2
2.4
2.40
High
06:45
FR
PPI YoY
-6
-6.7
2.2
0.18
Low
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.2
0.3
0.30
Low
06:45
FR
Inflation Rate MoM
0.1
0.1
0.3
0.30
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.6
2.5
2.7
2.70
Low
06:45
FR
PPI MoM
-0.3
-1.6
0.4
-0.25
Low
Tuesday, July 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
GDP Growth Rate YoY
1.1
1.5
0.8
0.88
High
05:30
FR
Household Consumption MoM
-0.5
0.8
0.2
0.28
Low
05:30
FR
GDP Growth Rate QoQ
0.3
0.3
0.2
0.23
High
Friday, July 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
91
90
90
90.17
Medium
Thursday, July 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Unemployment Benefit Claims
18.2
40.9
8.9
13.75
Medium
10:00
FR
Jobseekers Total
2834.5
2816.3
2825
2821.28
Low
06:45
FR
Business Climate Indicator
94
99
98
97.67
Low
06:45
FR
Business Confidence
95
99
99
98.67
Medium
Wednesday, July 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Composite PMI
49.5
48.8
48.9
49.53
Medium
07:15
FR
HCOB Manufacturing PMI
44.1
45.4
45.8
45.12
High
07:15
FR
HCOB Services PMI
50.7
49.6
49.8
50.63
High
Tuesday, July 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:00
FR
Current Account
-3.1
-3.5
-1.2
-2.27
Low
Friday, July 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.1
0
0.1
0.10
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.5
2.6
2.5
2.50
Low
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.1
0.1
0.10
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.1
2.10
Medium
Friday, July 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Industrial Production MoM
-2.1
0.6
-0.5
-0.80
Medium
06:45
FR
Balance of Trade
-8
-7.5
-7.2
-7.47
Medium
Thursday, July 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41
43.4
49
47.27
Low
Wednesday, July 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:30
FR
New Car Registrations YoY
-4.8
-2.9
2.5
-1.47
Low
07:50
FR
HCOB Services PMI
49.6
49.3
48.8
49.63
High
07:50
FR
HCOB Composite PMI
48.8
48.9
48.2
48.83
Low
06:45
FR
Budget Balance
-113.5
-91.6
-115
-115.60
Low
Monday, July 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
45.4
46.4
45.3
44.62
High
Friday, June 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Household Consumption MoM
1.5
-0.9
0.1
0.18
Low
06:45
FR
PPI YoY
-6.7
-6.7
-6.1
-8.12
Low
06:45
FR
PPI MoM
-1.4
-3.6
-0.7
-1.35
Low
06:45
FR
Harmonised Inflation Rate YoY
2.5
2.6
2.5
2.50
Low
06:45
FR
Inflation Rate MoM
0.1
0
0.1
0.10
Medium
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.1
0.1
0.10
Low
06:45
FR
Inflation Rate YoY
2.1
2.3
2.5
2.50
High
Wednesday, June 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2816.3
2775.4
2810
2806.28
Low
10:00
FR
Unemployment Benefit Claims
40.9
-36.8
-17
-12.15
Medium
06:45
FR
Consumer Confidence
89
90
89
89.17
Medium
Friday, June 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Services PMI
48.8
49.3
50
50.83
High
07:15
FR
HCOB Manufacturing PMI
45.3
46.4
46.8
46.12
High
07:15
FR
HCOB Composite PMI
48.2
48.9
49.5
50.13
Medium
06:45
FR
Business Climate Indicator
99
99
98
97.67
Low
06:45
FR
Business Confidence
99
99
100
99.67
Medium
Friday, June 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0
0.5
0
0.00
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.6
2.4
2.7
2.70
Low
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.6
0.2
0.20
Low
06:45
FR
Inflation Rate YoY
2.3
2.2
2.2
2.20
Medium
Friday, June 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Exports
51.2
52.1
52.6
52.42
Low
06:45
FR
Current Account
-1.8
0.6
1.5
0.43
Low
06:45
FR
Balance of Trade
-7.6
-5.4
-5.4
-5.67
Medium
06:45
FR
Imports
58.8
57.5
57.7
57.17
Low
Thursday, June 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
43.4
41.5
44
42.27
Low
Wednesday, June 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Services PMI
49.3
51.3
49.4
50.23
High
07:50
FR
HCOB Composite PMI
48.9
50.5
49.1
49.73
Low
06:45
FR
Industrial Production MoM
0.5
-0.2
0.5
0.20
Medium
Tuesday, June 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-91.6
-52.8
-60
-60.60
Low
Monday, June 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
46.4
45.3
46.7
46.02
High
Friday, May 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.6
0.2
0.20
Low
06:45
FR
Inflation Rate MoM
0
0.5
0.2
0.20
Medium
06:45
FR
GDP Growth Rate QoQ
0.2
0.1
0.2
0.23
Medium
06:45
FR
PPI MoM
-3.6
-1
-1.1
-1.75
Low
06:45
FR
Harmonised Inflation Rate YoY
2.7
2.4
2.5
2.50
Low
06:45
FR
Inflation Rate YoY
2.2
2.2
2.4
2.40
High
06:45
FR
PPI YoY
-6.8
8.3
-3.5
-5.52
Low
06:45
FR
Household Consumption MoM
-0.8
0.5
0.2
0.28
Low
06:45
FR
GDP Growth Rate YoY
1.1
0.8
1.1
1.18
Medium
05:30
FR
Non Farm Payrolls QoQ
0.3
0
0.1
0.13
Low
05:30
FR
Private Non Farm Payrolls QoQ
0.3
-0.1
0.2
0.18
Low
Wednesday, May 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
90
90
91
91.17
Medium
Tuesday, May 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2775.4
2812.2
2810.9
2807.18
Low
10:00
FR
Unemployment Benefit Claims
-36.8
-8.4
-12
-7.15
Medium
Friday, May 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Business Confidence
99
100
100
99.67
Medium
06:45
FR
Business Climate Indicator
99
99
100
99.67
Low
Thursday, May 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Manufacturing PMI
46.7
45.3
45.8
45.12
High
07:15
FR
HCOB Composite PMI
49.1
50.5
51
51.63
Medium
07:15
FR
HCOB Services PMI
49.4
51.3
51.7
52.53
High
Friday, May 17, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
Unemployment Rate
7.5
7.5
7.4
7.40
Medium
Wednesday, May 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.5
0.2
0.5
0.50
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.4
2.4
2.4
2.40
Low
06:45
FR
Harmonised Inflation Rate MoM
0.6
0.2
0.6
0.60
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.2
2.20
Medium
Tuesday, May 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41.5
41
43
41.27
Low
06:45
FR
Imports
57.7
56.4
58.5
57.97
Low
06:45
FR
Exports
52.2
50.8
51.9
51.72
Low
06:45
FR
Private Non Farm Payrolls QoQ
0.2
-0.1
0
-0.02
Low
06:45
FR
Current Account
1.3
0.3
-1.9
-2.97
Low
06:45
FR
Balance of Trade
-5.5
-5.6
-5
-5.27
Medium
Monday, May 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Services PMI
51.3
48.3
50.5
51.33
High
07:50
FR
HCOB Composite PMI
50.5
48.3
49.9
50.53
Low
Friday, May 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Industrial Production MoM
-0.3
0.2
0.3
0.00
Medium
06:45
FR
Budget Balance
-52.8
-44
-52
-52.60
Low
Tuesday, April 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.5
0.2
0.5
0.50
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.4
2.4
2.2
2.20
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.1
2.10
High
06:45
FR
PPI MoM
-0.2
-1.7
-0.5
-1.15
Low
06:45
FR
PPI YoY
-7.5
-5.5
-7.7
-9.72
Low
06:45
FR
Harmonised Inflation Rate MoM
0.6
0.2
0.5
0.50
Low
05:30
FR
GDP Growth Rate YoY
1.1
0.8
0.9
0.98
High
05:30
FR
GDP Growth Rate QoQ
0.2
0.1
0.1
0.13
High
05:30
FR
Household Consumption MoM
0.4
0.1
0.2
0.28
Low
Friday, April 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
90
91
92
92.17
Medium
Thursday, April 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2812.2
2820.6
2801.9
2798.18
Low
10:00
FR
Unemployment Benefit Claims
-8.4
-6.1
-10
-5.15
Medium
06:45
FR
Business Climate Indicator
99
100
100
99.67
Low
06:45
FR
Business Confidence
100
103
102
101.67
Medium
Tuesday, April 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Composite PMI
49.9
48.3
49
49.63
Medium
07:15
FR
HCOB Manufacturing PMI
44.9
46.2
44.9
44.22
High
07:15
FR
HCOB Services PMI
50.5
48.3
48.9
49.73
High
Friday, April 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Harmonised Inflation Rate YoY
2.4
3.2
2.4
2.40
Low
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.9
0.3
0.30
Low
06:45
FR
Inflation Rate MoM
0.2
0.9
0.2
0.20
Medium
06:45
FR
Inflation Rate YoY
2.3
3
2.3
2.30
Medium
Tuesday, April 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Exports
51.1
48.8
49.1
48.92
Low
06:45
FR
Current Account
0.9
-0.5
-1.3
-2.37
Low
06:45
FR
Balance of Trade
-5.2
-7.2
-7
-7.27
Medium
06:45
FR
Imports
56.296
56.048
55.7
55.17
Low
Friday, April 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41
41.9
44
42.27
Low
06:45
FR
Industrial Production MoM
0.2
-0.9
0.5
0.20
Medium
Thursday, April 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:15
FR
New Car Registrations YoY
-1.5
13
16
12.03
Low
07:50
FR
HCOB Services PMI
48.3
48.4
47.8
48.63
High
07:50
FR
HCOB Composite PMI
48.3
48.1
47.7
48.33
Low
Wednesday, April 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-44.03
-25.74
-54.4
-55.00
Low
Tuesday, April 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
46.2
47.1
45.8
45.12
High
Friday, March 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Household Consumption MoM
0
-0.6
0.2
0.28
Low
Wednesday, March 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
-15.8
2.5
12.3
17.15
Medium
11:00
FR
Jobseekers Total
2811.9
2827.7
2840
2836.28
Low
07:45
FR
Consumer Confidence
91
90
90
90.17
Medium
Thursday, March 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
47.8
48.4
48.7
49.53
High
08:15
FR
HCOB Manufacturing PMI
45.8
47.1
47.5
46.82
High
08:15
FR
HCOB Composite PMI
47.7
48.1
48.6
49.23
Medium
07:45
FR
Business Confidence
102
101
100
99.67
Medium
07:45
FR
Business Climate Indicator
100
98
97
96.67
Low
Friday, March 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate YoY
3.2
3.4
3.1
3.10
Low
07:45
FR
Inflation Rate YoY
3
3.1
2.9
2.90
Medium
07:45
FR
Inflation Rate MoM
0.8
-0.2
0.8
0.80
Medium
07:45
FR
Harmonised Inflation Rate MoM
0.9
-0.2
0.9
0.90
Low
Friday, March 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Balance of Trade
-7.388
-6.421
-6.5
-6.77
Medium
07:45
FR
Imports
56.199
56.817
56.8
56.27
Low
07:45
FR
Current Account
-1
-0.2
-1.4
-2.47
Low
07:45
FR
Exports
48.811
50.396
50.6
50.42
Low
Wednesday, March 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
HCOB Construction PMI
41.9
39.6
41
39.27
Low
Tuesday, March 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Composite PMI
48.1
44.6
47.7
48.33
Low
08:50
FR
HCOB Services PMI
48.4
45.4
48
48.83
High
07:45
FR
Industrial Production MoM
-1.1
0.4
-0.1
-0.40
Medium
Monday, March 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:25
FR
New Car Registrations YoY
13
9.2
12
8.03
Low
07:45
FR
Budget Balance
-25.74
-173.26
-27
-27.60
Low
Friday, March 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Manufacturing PMI
47.1
43.1
46.8
46.12
High
Thursday, February 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate MoM
0.9
-0.2
0.7
0.70
Low
07:45
FR
GDP Growth Rate QoQ
0.1
0
0
0.03
Medium
07:45
FR
PPI MoM
-1.3
-0.1
0.3
-0.35
Low
07:45
FR
PPI YoY
-5.1
-1.3
-3.3
-5.32
Low
07:45
FR
Household Consumption MoM
-0.3
0.3
-0.2
-0.12
Low
07:45
FR
Inflation Rate YoY
2.9
3.1
2.7
2.70
High
07:45
FR
Inflation Rate MoM
0.8
-0.2
0.7
0.70
Medium
07:45
FR
Harmonised Inflation Rate YoY
3.1
3.4
3
3.00
Low
07:45
FR
GDP Growth Rate YoY
0.7
0.6
0.7
0.78
Medium
06:30
FR
Non Farm Payrolls QoQ
0
0.2
-0.1
-0.07
Low
06:30
FR
Private Non Farm Payrolls QoQ
-0.1
0.2
0
-0.02
Low
Tuesday, February 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
2.5
-1.4
-6.2
-1.35
Medium
11:00
FR
Jobseekers Total
2827.7
2825.2
2819
2815.28
Low
07:45
FR
Consumer Confidence
89
91
92
92.17
Medium
Thursday, February 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
48
45.4
45.6
46.43
High
08:15
FR
HCOB Manufacturing PMI
46.8
43.1
43.5
42.82
High
08:15
FR
HCOB Composite PMI
47.7
44.6
45
45.63
Medium
07:45
FR
Business Confidence
100
98
99
98.67
Medium
07:45
FR
Business Climate Indicator
98
99
99
98.67
Low
Friday, February 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate YoY
3.4
4.1
3.4
3.40
Low
07:45
FR
Inflation Rate MoM
-0.3
0.1
-0.2
-0.20
Medium
07:45
FR
Harmonised Inflation Rate MoM
-0.2
0.1
-0.2
-0.20
Low
07:45
FR
Inflation Rate YoY
3.1
3.7
3.1
3.10
Medium
Tuesday, February 13, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
FR
Unemployment Rate
7.5
7.5
7.4
7.40
Medium
Wednesday, February 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Current Account
-0.7
-2.9
-2.7
-3.77
Low
07:45
FR
Exports
50.192
49.451
49.1
48.92
Low
07:45
FR
Private Non Farm Payrolls QoQ
0
0.1
-0.1
-0.12
Low
07:45
FR
Balance of Trade
-6.829
-5.939
-6
-6.27
Medium
07:45
FR
Imports
57.021
55.395
54.9
54.37
Low
Tuesday, February 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
HCOB Construction PMI
39.6
42.6
43.4
41.67
Low
Monday, February 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Services PMI
45.4
45.7
45
45.83
High
08:50
FR
HCOB Composite PMI
44.6
44.8
44.2
44.83
Low
Friday, February 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Budget Balance
-173.26
-197.97
-173
-173.60
Low
07:45
FR
Industrial Production MoM
1.1
0.5
0.2
-0.10
Medium
Thursday, February 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Manufacturing PMI
43.1
42.1
43.2
42.52
High
Wednesday, January 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
PPI MoM
0.1
2.3
0.5
-0.15
Low
07:45
FR
Harmonised Inflation Rate MoM
-0.2
0.1
-0.2
-0.20
Low
07:45
FR
Harmonised Inflation Rate YoY
3.4
4.1
3.3
3.30
Low
07:45
FR
Inflation Rate MoM
-0.2
0.1
-0.4
-0.40
Medium
07:45
FR
Inflation Rate YoY
3.1
3.7
2.9
2.90
High
07:45
FR
PPI YoY
-0.9
0.3
-0.5
-2.52
Low
Tuesday, January 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
FR
GDP Growth Rate YoY
0.7
0.6
0.2
0.28
High
06:30
FR
Household Consumption MoM
0.3
0.6
0.3
0.38
Low
06:30
FR
GDP Growth Rate QoQ
0
0
0
0.03
High
Friday, January 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Consumer Confidence
91
89
90
90.17
Medium
Thursday, January 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
-1.4
5.2
9.4
14.25
Medium
11:00
FR
Jobseekers Total
2825.2
2826.6
2836
2832.28
Low
07:45
FR
Business Climate Indicator
98
98
98
97.67
Low
07:45
FR
Business Confidence
99
99
100
99.67
Medium
Wednesday, January 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
45
45.7
46
46.83
High
08:15
FR
HCOB Manufacturing PMI
43.2
42.1
42.5
41.82
High
08:15
FR
HCOB Composite PMI
44.2
44.8
45.2
45.83
Medium
Wednesday, January 17, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Budget Balance
-197.97
-177.71
-185
-185.60
Low
Friday, January 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Household Consumption MoM
0.7
-0.9
-0.1
-0.02
Low
07:45
FR
Harmonised Inflation Rate MoM
0.1
-0.2
0.1
0.10
Low
07:45
FR
Inflation Rate YoY
3.7
3.5
3.7
3.70
Medium
07:45
FR
Harmonised Inflation Rate YoY
4.1
3.9
4.1
4.10
Low
07:45
FR
Inflation Rate MoM
0.1
-0.2
0.1
0.10
Medium
Wednesday, January 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Industrial Production MoM
0.5
-0.3
0
-0.30
Medium
Tuesday, January 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Balance of Trade
-5.943
-8.455
-7.9
-8.17
Medium
07:45
FR
Exports
49.451
49.745
48.9
48.72
Low
07:45
FR
Current Account
-2.8
-3.4
-3.2
-4.27
Low
07:45
FR
Imports
55.395
58.2
57.7
57.17
Low
Friday, January 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
S&P Global Construction PMI
42.6
44.6
45.5
44.05
Low
Thursday, January 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:55
FR
New Car Registrations YoY
14.5
14
12
8.03
Low
08:50
FR
S&P Global Composite PMI
44.8
44.6
43.7
44.25
Low
08:50
FR
S&P Global Services PMI
45.7
45.4
44.3
45.00
Medium
07:45
FR
Harmonised Inflation Rate YoY
4.1
3.9
4.1
4.10
Low
07:45
FR
Inflation Rate MoM
0.1
-0.2
0.2
0.20
Medium
07:45
FR
Inflation Rate YoY
3.7
3.5
3.8
3.80
High
07:45
FR
Harmonised Inflation Rate MoM
0.1
-0.2
0.3
0.30
Low
Tuesday, January 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
S&P Global Manufacturing PMI
42.1
42.9
42
42.05
Medium
Symbol
Price
Analysis and Forecast
Manufacturing PMI France December 2025 Shows Continued Contraction France Manufacturing PMI Holds at 47.80 in December The Manufacturing PMI, a key gauge of industrial health that measures new orders, output, and employment trends, remained at 47.80 for France in December 2025, signaling ongoing contraction in the sector. Fast facts: latest PMI reading 47.80, unchanged from November; below the 50 mark that separates growth from decline; released December 1, 2025. This steady reading reflects persistent challenges including supply chain disruptions, cautious domestic demand, and tighter monetary policy. JPMorgan analysts note that "the sustained sub-50 PMI underscores the pressure on French manufacturing amid elevated borrowing costs and geopolitical uncertainties." The Banque de France’s recent rate hikes aim to curb inflation but risk further slowing industrial output. Overall, the data points to a cautious outlook for France’s manufacturing sector as it navigates a complex global environment with limited near-term relief.
The December 2025 Manufacturing PMI for France stands at 47.80, unchanged from November but down from 48.80 in October and well below the 12-month average of 48.70. This steady contraction contrasts with the brief expansion phase seen in September (50.40), underscoring a loss of momentum in industrial activity.
New orders and output subindices both declined, reflecting weaker demand domestically and abroad. Employment levels also contracted, indicating cautious hiring amid uncertain prospects.