France Manufacturing PMI Falls Back Into Contraction in September

France’s manufacturing sector slipped back into contraction territory in September as both output and new orders fell sharply, according to data released Wednesday.

The HCOB France Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped to 48.2 from 50.4 in August. The figure was marginally above the flash estimate of 48.1, but still below the 50-point threshold that separates growth from contraction.

The decline marks a reversal from August’s expansion, with political uncertainty cited as a key driver behind weaker demand. Survey respondents pointed to a notable fall in manufacturing output and new business inflows, underscoring fragile conditions in the eurozone’s second-largest economy.

The latest figures suggest that the French industrial sector faces renewed headwinds, with political risks compounding weak demand trends and adding to uncertainty over the broader eurozone growth outlook.