HCOB Manufacturing PMI in France

S&P Global · Monthly (flash + final) · Importance

51.5 (Aug-26) ABS · index · Monthly · CSV

Period	index
Aug 2026	51.5
Jul 2026	50.0
Jun 2026	51.2
May 2026	49.7

Period	index
May 2026	-3.1
Apr 2026	2.8
Mar 2026	-0.1
Feb 2026	-1.1
Jan 2026	0.5
Dec 2025	2.9
Nov 2025	-1.0
Oct 2025	0.6
Sep 2025	-2.2
Aug 2025	2.2
Jul 2025	0.1
Jun 2025	-1.7
May 2025	1.1
Apr 2025	0.2
Mar 2025	2.7

Period	index
Aug 2026	1.1
Jul 2026	1.8
Jun 2026	3.1
May 2026	-0.1
Apr 2026	4.1
Mar 2026	1.5
Feb 2026	4.3

About this indicator

Source

S&P Global Market Intelligence

Frequency

Monthly (flash + final)

Release

Flash around the 23rd of the same month; final on the first working day of the following month. 09:50 CEST (07:50 UTC).

What it is

France's Manufacturing PMI is an S&P Global survey sponsored by HCOB (Hamburg Commercial Bank), built as a diffusion index from purchasing managers in French industry. A reading above 50 signals expansion; below 50, contraction. Each month there is a flash (preliminary) reading and a final one.

How it's calculated

A weighted composite of five sub-indices: new orders (30%), output (25%), employment (20%), suppliers' delivery times (15%) and stocks of purchases (10%). The data are seasonally adjusted.

Market implications

The flash reading is one of the first signals of the month on the French industrial cycle and moves markets more than the final print, which usually confirms it. France is the euro area's second-largest economy, so the figure feeds into growth expectations for the bloc and ECB policy.

Limitations

A qualitative survey that measures the direction of change, not its magnitude. Manufacturing is a small share of French GDP relative to services, so it gives only a partial picture of the economy.