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2025-08-01 16:35:55
French Manufacturing New Orders Plummet! July PMI Falls to New Low for the Year, Heightening Concerns About Global Trade Tensions. ⑴ A survey showed on Friday (August 1st, Beijing time) that new orders for French manufacturing in July saw their fastest decline since January. ⑵ This was primarily due to a sharp drop in demand for goods, particularly overseas. ⑶ Although the HCOB French Manufacturing PMI rose slightly to 48.2 in July from 48.1 in June, it remained below the 50.0 boom-bust mark for the 19th consecutive month, indicating a continued mild decline in French factory conditions. ⑷ Jonas Feldhusen, an economist at Hamburger Commerzbank, noted that the economic outlook for the French manufacturing industry had deteriorated significantly at the start of the second half of the year. ⑸ Despite a slight increase in the overall index, the sharp deterioration in order volumes and business expectations is cause for concern. ⑹ The survey showed that customer hesitancy and domestic economic headwinds were the main factors behind the decline in orders. ⑺ New export sales also fell sharply, reaching their lowest level this year. ⑻ Despite this, factory employment saw a slight increase for the third consecutive month, but this was primarily concentrated in temporary workers. ⑼ In addition, French manufacturers' delivery times have lengthened to their worst level in two and a half years due to labor shortages and strikes at suppliers. ⑽ The survey highlights that growing uncertainty stemming from global trade tensions and domestic austerity measures could create further headwinds in the coming months.
