The HCOB France Services PMI rose to 49.6 in February 2026, confirming preliminary estimates and up from 48.4 in January, signaling a marginal contraction in the services sector. New business inflows fell for the third consecutive month, although the pace of decline eased slightly, while firms continued to work through backlogs to support output. Employment rose for a second consecutive month, with both permanent and temporary hiring contributing to payroll growth. However, activity remained subdued due to weak demand, particularly from international clients, project delays, and adverse weather conditions. Meanwhile, input costs increased at a slower pace, reflecting moderated wage pressures and lower fuel and hardware cost inflation, while output prices rose only marginally as firms sought to pass higher costs onto clients. Optimism about the year ahead remained strong, with overall business confidence holding just below January’s 16-month high. source: S&P Global

Services PMI in France increased to 49.60 points in February from 48.40 points in January of 2026. Services PMI in France averaged 51.03 points from 2008 until 2026, 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.

Services PMI in France increased to 49.60 points in February from 48.40 points in January of 2026. Services PMI in France is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Services PMI is projected to trend around 52.00 points in 2027 and 52.50 points in 2028, according to our econometric models.



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France Services PMI
The HCOB France Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
France Services Sector Contraction Eases
The HCOB France Services PMI rose to 49.6 in February 2026, confirming preliminary estimates and up from 48.4 in January, signaling a marginal contraction in the services sector. New business inflows fell for the third consecutive month, although the pace of decline eased slightly, while firms continued to work through backlogs to support output. Employment rose for a second consecutive month, with both permanent and temporary hiring contributing to payroll growth. However, activity remained subdued due to weak demand, particularly from international clients, project delays, and adverse weather conditions. Meanwhile, input costs increased at a slower pace, reflecting moderated wage pressures and lower fuel and hardware cost inflation, while output prices rose only marginally as firms sought to pass higher costs onto clients. Optimism about the year ahead remained strong, with overall business confidence holding just below January’s 16-month high.
2026-03-04
France Services PMI Above Forecasts
The HCOB France Services PMI rose to 49.6 in February 2026 from 48.4 in the prior month, coming in above market expectations of 49.2, flash estimates showed. Still, the latest PMI remained in contraction for the second consecutive month, primarily weighed down by subdued customer demand, adverse weather conditions, and ongoing weakness in the construction industry. New business inflows continued to decline, with the pace of contraction accelerating compared to the previous month. Meanwhile, there was a further reduction in backlogs of work, while service providers recorded a modest increase in staffing levels. On the price front, services companies offered the steepest discounts in nine months. Looking ahead, service providers were less optimistic in February, though sentiment remained comfortably above the average level seen in 2025. They said expectations of a pickup in demand were driving their optimism for the months ahead.
2026-02-20
France Services PMI Revised Higher
The HCOB France Services PMI fell to 48.4 in January 2026, revised upward from the preliminary estimates of 47.9, compared with 50.1 in December. The latest PMI marked a return to contraction since October 2025, reflecting subdued demand, unusually poor weather, and broadly unfavorable economic conditions. New orders fell at its fastest pace in six months, as clients adopted a cautious approach to spending. Meanwhile, service providers showed a modest willingness to hire after two months of stagnation, with workforce numbers increasing slightly to support anticipated activity. On the pricing front, input costs continued to rise, driven by higher product prices and wages. Output prices also accelerated to its highest rate since November 2024, as they chose to pass on increased costs to clients. Looking ahead, service providers expressed stronger optimism about the next twelve months, citing plans for increased investment in 2026 and expectations of more supportive business conditions.
2026-02-04