The IHS Markit France Services PMI declined to 47.5 in September 2020 from 51.5 in the previous month and matching a preliminary estimate. The reading pointed to the first contraction in the services sector following three consecutive months of expansion, amid renewed disruptions related to the resurgence of COVID-19 infections. New orders fell at the sharpest pace since May and employment dropped for the sixth successive month. Despite firms employing fewer staff, the downturn in new business saw backlogs of work continue to fall albeit at a slower pace. On the price front, input prices rose, while output charges went down at the fastest rate in four months amid efforts to support sales amid subdued demand conditions. Lastly, sentiment improved driven by expectations for the effects of the pandemic to gradually subside.
Services PMI in France averaged 51.25 points from 2008 until 2020, reaching an all time high of 62.90 points in April of 2011 and a record low of 10.20 points in April of 2020. This page provides the latest reported value for - France Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Markit Economics
Services PMI in France is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in France to stand at 52.50 in 12 months time. In the long-term, the France Services PMI is projected to trend around 52.50 points in 2021 and 53.60 points in 2022, according to our econometric models.