The S&P Global France Composite PMI was unrevised at 47.6 in April 2026, down from 48.8 in March, indicating a fourth consecutive month of contraction in France’s private sector and the sharpest downturn since February 2025. Services led April’s contraction, with a sharper decline, while manufacturing activity rebounded. Private sector output shrank amid the quickest fall in new orders since April 2025. Meanwhile, employment grew, reflecting service sector hiring. Input price inflation accelerated to a three-year high, with a marked rise in factory-gate prices pushing output inflation to its strongest level in 20 months.