France Services PMI Drops to 48.8

S&P Global France Services PMI Business Activity Index fell to 48.8 in March, down from 49.6 in February, indicating deeper contraction.
New business volumes declined for a fourth month, steepest since July 2025, with local elections and Middle East war cited as causes.
Service sector employment fell for the first time since end‑2025, while input cost inflation hit a 20‑month high driven by fuel price surge.
Business confidence for the next 12 months slipped to a three‑month low, and composite PMI output index dropped to 48.8, fastest decline since Oct 2025.