FxNews—In October 2024, the S&P Global France Manufacturing PMI slightly decreased to 44.5 from September’s 44.6, which was lower than the anticipated 44.9, according to initial reports.
The image below shows the S&P Global France Manufacturing PMI since November.
21 Months of Decline: Factories Cut Jobs and Order
This decline represents the 21st straight month of downturn, primarily due to continuous reductions in production and new orders. This includes orders from both within the country and abroad, which have not shown any improvement.
As a result, companies have reduced their workforce, though some in the manufacturing sector have started to introduce part-time work schedules.
On a positive note, the cost of materials has begun to fall slightly. However, the outlook from manufacturers remains gloomy, marking the most negative sentiment since May 2020.
J.J Edwards is a finance expert with 15+ years in forex, hedge funds, trading systems, and market analysis.
