The S&P Global France Services PMI fell to 48.4 in October 2026 from 51.2 in September, returning to contraction territory, according to preliminary estimates. The reading also came in below market expectations of 50.7. The downturn reflected a sharp decline in demand for services, amid heightened political uncertainty and tighter financial conditions. Business confidence also weakened, with firms' expectations for activity over the next 12 months falling to their lowest level in six and a half years.