The S&P Global France Composite PMI fell to 47.6 in April 2026 from 48.8 in March, undershooting market expectations of 48.6, according to flash estimates. The latest reading signals a fourth consecutive month of contraction in France’s private sector and the sharpest downturn since last October. The decline was driven by a marked weakening in services activity, with the PMI dropping to 46.5 from 48.8, while manufacturing provided a bright spot, with output rebounding and posting its strongest growth in over four years.