The HCOB France Composite PMI for November 2025 was revised higher to 50.4, compared to the flash estimate of 49.9 and above October's reading of 47.7. The latest reading pointed to renewed growth in the French private sector, its first since August 2024, driven by stronger performance in services (PMI at an over 1-year high of 51.4 vs 48 in October). On the other hand, manufacturing activity contracted at a solid pace for the third month (PMI at 9-month low of 47.8 vs 48.8). Private sector new orders rose on stronger demand for French services, though total new business increased only marginally. Exports boosted sales, with overseas orders up for manufacturers and stable in services. Meanwhile, employment fell for the first time in four months amid broad payroll reductions, while backlogs declined faster. Input costs hit a three-month high, but selling prices were little changed. Lastly, business sentiment improved, though it remained subdued overall.