The IHS/Markit France Services PMI was revised higher to 31.1 in May 2020 from a preliminary 29.4 and compared to April’s record low of 10.2. Still, the reading pointed to the third sharpest contraction since series began, as many firms remained closed amid coronavirus pandemic. Output and new orders continued to shrink, albeit at a slower pace amid lower demand. Also, new export orders fell for the third consecutive month, as key export partners remained under coronavirus-related restrictions. The job shedding rate slowed, as some firms used the 'partial unemployment' scheme in order to maintain staffing levels. On the price front, input prices dropped at a softer pace amid lower fuel prices and wage expenditure, and output charges decreased for the third successive month. Finally, French service providers were optimistic towards the 12-month business, marking the first positive reading since February.
Services PMI in France averaged 51.23 points from 2008 until 2020, reaching an all time high of 62.90 points in April of 2011 and a record low of 10.20 points in April of 2020. This page provides the latest reported value for - France Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Markit Economics
Services PMI in France is expected to be 42.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in France to stand at 50.80 in 12 months time. In the long-term, the France Services PMI is projected to trend around 52.50 points in 2021 and 53.60 points in 2022, according to our econometric models.