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France EUR

France HCOB Composite PMI Final

Info

History

Chart

Impact:

Low

Source: S&P Global

Latest Release:

Date:

Surprise:

1.1

Actual:

45.9

Forecast: 44.8

Previous/Revision:

48.1

Period: Nov

Next Release:

Date:

Forecast: 50.1

Period: Dec

What Does It Measure?

The HCOB Composite Purchasing Managers' Index (PMI) measures the economic health of the French private sector by aggregating activity across both manufacturing and services sectors. It primarily focuses on variables such as production, new orders, employment, and prices, with values above 50 indicating expansion and values below 50 signaling contraction, making it a national indicator of economic performance.

Frequency

The HCOB Composite PMI Final is released monthly, typically on the first business day following the month in question, and represents the final figures derived from initial estimates.

Why Do Traders Care?

Traders closely monitor the HCOB Composite PMI as it provides timely insights into the economic climate, influencing market expectations for monetary policy and the overall health of the French economy, consequently impacting the euro and equity markets. A higher-than-expected PMI reading is often seen as bullish for the euro and equities, while disappointing data may exert downward pressure on these assets.

What Is It Derived From?

The HCOB Composite PMI is derived from a survey of purchasing managers across approximately 800 companies in both the manufacturing and service sectors, utilizing diffusion indices that weigh responses to questions about changes in business activity. The calculation involves summarizing input based on the number of positive versus negative responses, adhering to established industry standards.

Description

This indicator represents a significant gauge of economic momentum since it reflects the input from purchasing managers who are familiar with the spending and expansion plans of their organizations. Preliminary reports are based on early survey responses, providing an advanced economic snapshot that can influence market movements, while final reports offer a more complete and accurate reflection but are subject to market adjustment.

Additional Notes

The HCOB Composite PMI is considered a leading economic indicator, often presaging trends in economic activity and labor market conditions, thus serving as an important tool for analysts and policymakers. It also helps contextualize performances relative to other regional and global indicators, contributing to broader economic assessments.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for EUR, Bullish for Stocks. A strong PMI indicates economic expansion, which is typically good for the currency.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 03, 2025		49.9
Nov 05, 2025		46.8
Oct 03, 2025		48.4
Sep 03, 2025		49.8
Aug 05, 2025		49.6
Jul 03, 2025		48.5
Jun 04, 2025		48
May 06, 2025		47.3
Apr 03, 2025		47
Mar 05, 2025		44.5
Feb 05, 2025		48.3
Jan 06, 2025		46.7
Dec 04, 2024	45.9	44.8	48.1	1.1
Nov 06, 2024	48.1	47.3	48.6	0.8
Oct 03, 2024	48.6	47.4	53.1	1.2
Sep 04, 2024	53.1	52.7	49.1	0.4
Aug 05, 2024	49.1	49.5	48.8	-0.4
Jul 03, 2024	48.8	48.2	48.9	0.6
Jun 05, 2024	48.9	49.1	50.5	-0.2
May 06, 2024	50.5	49.9	48.3	0.6
Apr 04, 2024	48.3	47.7	48.1	0.6
Mar 05, 2024	48.1	47.7	44.6	0.4
Feb 05, 2024	44.6	44.2	44.8	0.4
Jan 04, 2024	44.8	43.7	44.6	1.1
Dec 05, 2023	44.6	44.5	44.6	0.1
Nov 06, 2023	44.6	45.3	44.1	-0.7
Oct 04, 2023	44.1	43.5	46	0.6
Sep 05, 2023	46	46.6	46.6	-0.6
Aug 03, 2023	46.6	46.6	47.2
Jul 05, 2023	47.2	47.3	51.2	-0.1
Jun 05, 2023	51.2	51.4	52.4	-0.2
May 04, 2023	52.4	53.8	52.7	-1.4