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French Business Activity Held Back by Manufacturing Dip

Alexander Weber
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⚡ Quantum Brief
French business activity remained stagnant in February 2026, with the S&P Global Composite PMI rising slightly to 49.9—just below the 50 threshold indicating growth. Manufacturing weakness unexpectedly dragged down overall performance, offsetting modest gains in other sectors despite analyst forecasts predicting a stronger rebound to 49.6. The contraction marks a prolonged slowdown, as January’s PMI stood at 49.1, signaling persistent economic challenges in France’s industrial and service sectors. Key industries like aluminum production, exemplified by foundries in Dunkirk, face continued pressure amid broader manufacturing declines and supply chain uncertainties. The data underscores France’s struggle to regain pre-recession momentum, with policymakers likely to scrutinize sector-specific interventions to stimulate recovery.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A worker removes a sample from a crucible of molten aluminum in a foundry in Dunkirk, France.The contraction in French business activity eased this month but surprise weakness in the manufacturing sector weighed.S&P Global’s Composite Purchasing Managers’ Index rose to 49.9 from 49.1 in January— not quite reaching the 50 mark separating expansion from contraction. Analysts polled by Bloomberg had anticipated an advance to 49.6.

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