French manufacturing PMI fell to its lowest level in 7 months.

The HCOB French manufacturing PMI for August 2024 was 43.9, exceeding the initial estimate of 42.1, but down from 44 in July.

New orders decreased at the fastest pace since May 2020, with export orders also becoming the fastest in the past 3 months.

Furthermore, companies reduced production for the 27th consecutive month, with the pace of decline being the fastest since January.

As a result, employment decreased for the 15th period in a row, and purchasing activity sharply decreased to the lowest level this year.

On the pricing front, input costs inflation slightly eased from the 18-month high in July, but remained slightly above the survey's long-term average, while production cost inflation rose at the fastest pace since March 2023.

Finally, French manufacturers turned pessimistic about production prospects for the first time since January, following a 12-month period.

Source: S&P Global