The HCOB France Manufacturing PMI dropped to 48.1 in June 2025 from 49.8 in May, but revised above initial estimates of 47.8. This marked the steepest contraction in four months, reflecting renewed falls in production and the fastest drop in new orders since February, driven by weak demand in domestic and international markets and ongoing challenges in the automotive sector. New export orders also contracted at a quicker pace, while purchasing activity and inventories were scaled back amid weakening demand and supplier delays, with delivery times lengthening to its lowest levels since February. On prices, input costs rose modestly due to supply delays, while selling prices were cut for the fourth consecutive month as competition intensified. Despite the downturn, manufacturers’ confidence improved to its highest level since February 2022, encouraging marginal job growth for the second month running.