S&P Global Market Intelligence chief economist Joe Hayes said French
manufacturing has failed to build genuine growth momentum. October demand
deteriorated sharply, lowering the chance of a near-term recovery, and survey
business confidence fell to a 12‑month low. Ongoing supply‑chain disruptions and
Elevated energy prices have pushed up cost pressures, limiting firms' ability to
restore competitiveness via lower prices. Employment, purchasing activity and
inventories all declined, indicating firms are implementing cost cuts amid the
ongoing global energy crisis and related geopolitical headwinds.
