French manufacturing PMI declines for 21st straight month

The S&P Global France Manufacturing PMI dipped to 44.5 in October 2024, down from 44.6 in September and below market expectations of 44.9, according to preliminary estimates.

French manufacturing PMI declines for 21st straight month

This represents the 21st consecutive month of contraction, attributed to a persistent decline in output and new orders, with both domestic and international demand showing no signs of recovery. As a result, companies have reduced their workforce, although the goods-producing sector has started implementing short-time working practices.

Early signs of declining input prices, but manufacturers remain pessimistic

On a slightly positive note, there are early signs of decreasing input prices. However, manufacturers remain pessimistic, reporting their most negative outlook since May 2020.