Overview

• France’s manufacturing PMI fell to 48.2 in September from 50.4 in August, moving below the expansion threshold.
• Germany’s final manufacturing PMI registered 49.5 in September, easing from 49.8 in August.
• The German reading beat both the preliminary estimate and the FactSet analyst forecast of 48.5.
• S&P Global and HCOB reported reduced French new orders, including exports, linked to political uncertainty and U.S. tariffs.
• Sub-50 PMI levels signal contraction in factory activity, underscoring a softer near-term growth outlook for the eurozone.