Financial News: French Private Sector Shrinks Most Since 2020

French Private Sector Shrinks Most Since 2020

05/21/2026 - 05:06:00 (RTTNews)

(RTTNews) - France's private sector contracted at the sharpest pace in five-and-a-half years in May, flash survey data from S&P Global revealed Thursday.

The flash composite output index dropped to 43.5 in May from 47.6 in the prior month. This was the lowest score since November 2020 and also stayed below forecast of 47.7.

The survey showed an accelerated decline in services activity accompanied by a fresh fall in manufacturing output.

The services Purchasing Managers' Index dropped unexpectedly to 42.9 in May from 46.5 in the prior month. The score was seen at 46.6.

The manufacturing PMI posted 48.9 compared to 52.8 in the prior month. The reading was expected to fall moderately to 52.1.

"Alarmingly, we saw private sector new orders plummet in May, giving us a clear indication that this shock has materially lifted recession risks for the eurozone's second-largest economy," S&P Global Market Intelligence Principal Economist Joe Hayes said.

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