The HCOB France Services PMI rose to 50.8 in October 2025, recovering from 48.0 in the previous month and surpassing market expectations of 48.3, flash estimates showed. The latest reading marked the sector’s first return to expansion since August 2024, supported by a marginal increase in output amid stronger sales performance and a modest pickup in demand, as indicated by new business inflows. Moreover, job losses in the services sector were less pronounced than in manufacturing, suggesting that firms are making efforts to preserve staffing levels amid gradually stabilizing activity. On the price front, service providers continued to face rising input costs, driven primarily by higher wages and increased materials expenses. However, output prices remained unchanged, highlighting ongoing constraints on pricing power across the sector.