France Services PMI at 5-Month Low

2026-03-24 08:31 By Czyrill Jean Coloma 1 min. read

The S&P Global France Services PMI fell to 48.3 in March 2026 from 49.6 in the previous month, worse than market expectations of 49, flash estimates showed.

It marked the third straight month of contraction and the sharpest pace of decline since October 2025, weighed down by subdued demand amid the Middle East conflict, heightened geopolitical uncertainty, and domestic client caution ahead of local elections.

Overall new business fell at the fastest rate since July 2025, with clients holding back on orders, while international demand dropped at its steepest pace in fifteen months.

Moreover, services firms saw a slight reduction in staffing as companies opted not to replace departing employees.

On the price front, input cost inflation slightly intensified, while output prices remained relatively muted.

Finally, confidence weakened sharply, as the Middle East war dampened expectations for the next twelve months, fueling concerns over its impact on demand and inflation.



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