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France's PMI Signals Economic Contraction Amid Job Cuts

2/21/2025

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Summary

Story summary

France's manufacturing PMI increased to 45.5 in February, surpassing expectations but still signaling contraction.
The services PMI fell to 44.5, reaching a 17-month low and indicating a deeper decline in the private sector.
Employment levels dropped significantly, with firms cutting jobs at the fastest pace since August 2020.
The economic outlook is bleak, driven by weak demand and rising input costs, raising recession concerns.

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Story summary

France's manufacturing PMI increased to 45.5 in February, surpassing expectations but still signaling contraction.
The services PMI fell to 44.5, reaching a 17-month low and indicating a deeper decline in the private sector.
Employment levels dropped significantly, with firms cutting jobs at the fastest pace since August 2020.
The economic outlook is bleak, driven by weak demand and rising input costs, raising recession concerns.