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Yahoo
3 days ago
- Business
- Yahoo
French service sector downturn eases in May but optimism wanes, final PMI shows
PARIS (Reuters) - France's services sector contracted in May a little less quickly than first estimated, although business growth expectations fell to a five-year low amid uncertainty over trade tariffs, an S&P Global survey showed on Wednesday. The HCOB final services Purchasing Managers Index (PMI) for France rose to 48.9 points in May from 47.3 in April. The index remained below the 50-point threshold that indicates growth although it was better than preliminary "flash" May reading of 47.4 points. The final May composite PMI comprising both the manufacturing and services sectors rose to 49.3 points from 47.8 in April. However, the survey's measure of business expectations in the services sector fell to 50.2 points in May from 52.3 in April - marking its lowest level in five years. "Overall market conditions remain constrained, with both domestic and foreign demand continuing to decline, though at a slower pace," said Hamburg Commercial Bank economist Jonas Feldhusen. "While there are tentative signs of a recovery in market demand, optimism for improvement in the coming year has deteriorated further, suggesting that service providers remain unsettled by ongoing uncertainty," he added. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Reuters
4 days ago
- Business
- Reuters
Spain's manufacturing sector rebounds in May, PMI shows
MADRID, June 2 (Reuters) - Spain's manufacturing sector returned to growth in May for the first time since January as a partial lifting of U.S. tariffs fuelled business optimism, a survey showed on Monday. The HCOB Spain Manufacturing PMI, compiled by S&P Global, rose to 50.5 in May from 48.1 in April, just above the 50.0 mark that separates growth from contraction. The indicator showed growth for the first time since January when it was 50.9. The improvement was driven by a modest expansion in output, which was linked to a better trend in sales and a partial easing of global tariff uncertainty compared to April, the survey said. "While Spain's direct dependence on the U.S. market is relatively limited compared to countries like Germany or Italy, indirect effects from a generally improved global trade outlook may also be contributing," said Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank. Looking ahead, business expectations improved to a three-month high, with firms hopeful for a more stable economic environment over the next 12 months. However, uncertainty remains due to erratic U.S. trade policy under President Trump which continues to limit global planning reliability. Spain's economic growth slowed slightly in the first quarter but the manufacturing sector kept expanding rapidly, the National Statistics Institute said on Tuesday. The government expects the economy to expand 2.6% this year, a much faster rate than in neighbouring countries such as France, Germany or Italy.
Yahoo
22-05-2025
- Business
- Yahoo
France's private sector contracts for ninth month in May, PMI shows
By Sudip Kar-Gupta PARIS (Reuters) -France's private sector continued to contract in May, marking the ninth consecutive month of decline, as weakness in the services sector weighed on the euro zone's second-biggest economy, according to S&P Global's HCOB Flash France PMI survey. The flash PMI for France's dominant services sector stood at 47.4 points in May from 47.3 in April, marking the ninth month in a row in which it has been below the 50 points level signalling a contraction in activity. Any figure below 50 points shows a contraction while above 50 shows an expansion. A Reuters poll had forecast 47.5 points for the May flash services figure. The flash PMI for the manufacturing sector in May rose to 49.5 points, up from 48.7 in April and ahead of a Reuters poll which had forecast 48.9 points. The flash composite PMI - which comprises both the manufacturing and services sectors - for May stood at 48.0 points, exactly in line with a Reuters poll forecast and up from 47.8 in April. However, that composite PMI figure also marked the ninth consecutive month in which it had been below the 50 points level and therefore in contraction territory. "France's private sector remained subdued in May. The Flash Composite PMI continues to signal contraction, reflecting the economic challenges France is facing amid domestic political instability and a fragile macroeconomic environment," said Hamburg Commercial Bank junior economist Jonas Feldhusen. "Despite improvements in manufacturing and President Macron's recent efforts to position France as an attractive destination for investment, research and development, the overall outlook for the private sector remains bleak, as seen by the business outlook falling sharply in May, especially in the service sector," he added.
Yahoo
02-05-2025
- Business
- Yahoo
French factories post first output rise in nearly three years in April, PMI shows
PARIS (Reuters) - France's manufacturing sector posted its first rise in output in nearly three years in April, and expectations of greater military spending could help offset the impact of uncertainty over U.S. tariffs, a survey showed on Friday. The HCOB final purchasing managers index (PMI) for France's manufacturing sector, as compiled by S&P Global, rose to 48.7 in April from 48.5 in March, marking its highest level since January 2023. Any figure below 50 points marks a contraction, while above 50 shows an expansion. The final April figure was up from a flash manufacturing PMI reading of 48.2. European countries are aiming to bulk up their military spending, and S&P Global said this could benefit manufacturing companies. "Orders from both domestic and foreign clients remain in contraction, albeit at a significantly reduced rate. This suggests potential improvements in underlying business conditions within the manufacturing sector," said Jonas Feldhusen, Economist at Hamburg Commercial Bank AG. "While U.S. tariffs are expected to negatively impact French manufacturing and heighten uncertainty, lower interest rates from the ECB and credible EU efforts to reduce bureaucratic hurdles and massively increase defence spending could stimulate manufacturing activity," he added. Sign in to access your portfolio
Reuters
23-04-2025
- Business
- Reuters
French private sector contracts at faster pace in April, PMI shows
PARIS, April 23 (Reuters) - France's private sector activity has contracted at a sharper rate in April, driven by a steep decline in services, according to the HCOB Flash France PMI survey compiled by S&P Global. The flash services PMI dropped to 46.8 points from 47.9, its lowest in two months, as new business intakes fell at the steepest rate since November 2020. This compared with a Reuters poll forecast for 47.7 points. The manufacturing sector showed some signs of resilience, with its output index rising to 50.3 from 48.6, reaching a 35-month high. But the overall manufacturing PMI came in at 48.2, down from March's 48.5. The composite PMI, combining services and manufacturing, fell to 47.3 points in April from 48.0 points in March, marking the eighth consecutive month of contraction. Readings below 50 indicate declines in activity. Despite the uptick in manufacturing production, the overall outlook remains bleak. Firms expressed pessimism about future output, with business expectations hitting a near five-year low. "Despite a slight decline from the previous month, the data are not as dire as we anticipated," said Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank. "The order situation has significantly deteriorated, and future business expectations have slipped below the growth threshold." The survey highlighted pronounced demand weakness within domestic markets, although export sales saw their shallowest drop since August 2022. Falling workloads led to backlog completion, with manufacturing backlogs holding steady for the first time in more than two years. Price pressures eased, with input costs rising at the slowest pace in 2025, and prices charged were discounted for the first time in three months. The final April PMI data will be published in early May.
