The HCOB Flash Composite PMI for France fell to 48.4 in September 2025 from 49.8 in the prior month and below analysts' estimates of 49.7. The reading marked the 13th consecutive contraction, with private sector activity shrinking at the quickest rate in five months. Both manufacturing (PMI at seven-month low of 48.1 vs 50.4 in August) and service (PMI at 48.9 vs 49.8) sectors saw steeper output declines from the previous month, with manufacturing particularly hard hit amid weak demand.