Manufacturing and services PMIs fell below 50, missing forecasts and reversing prior expansion as demand weakened.
French manufacturing PMI dropped to 48.9 in May, marking a return to contraction after five months of growth and missing expectations of 52.2. The reading fell sharply from April’s 52.8, signaling a rapid slowdown in factory activity.
Services PMI also declined, though specific figures were not detailed in preliminary estimates. Analysts had anticipated continued expansion, but weakening demand and broader economic pressures drove the downturn.
The data suggests a sharper-than-expected cooling in France’s private sector, raising concerns about near-term growth prospects.