Newsquawk Logo

French S&P Global Composite PMI Flash (Apr) 47.6 (Prev. 48.8, Low. 48, High. 49.5); "What's most notable is that the passthrough to prices charged for goods and services remains contained"

The French S&P Global Composite PMI Flash reading of 47.6 indicates a continued contraction in the economy, driven predominantly by declining service sector activity as consumer spending wanes amid rising uncertainty.

Newsquawk StaffPublished On the live feed at — 5 more headlines followed before this page went public
Newsquawk headlinesUTC

EUROPEAN OPEN: RNO FP revenue rises despite adverse weather impact; STMPA FP reports higher sales on strong AI demand; OR FP sales rise on US/EM growth; ROP SW sales fall on copycat competition and FX; NESN SW sales beat, guidance maintained

China's He says MOFCOM advises Chinese firms to seek a refund of US tariffs; US tax refund measures are a positive step in correcting mistakes

French S&P Global Composite PMI Flash (Apr) 47.6 (Prev. 48.8, Low. 48, High. 49.5); "What's most notable is that the passthrough to prices charged for goods and services remains contained"

[RE-RUN] Sources familiar with Trump admin's moves say "the next stages have already been set"; "After the ceasefire ends, an overwhelming military strike is expected to go ahead, with even greater force than the one the US has inflicted on Iran so far"

European Movers: STMicroelectronics (STMPA FP) +9.3%, Nestle (NESN SW) +5.0%, WH Smith (SMWH LN) -14.5%, J Sainsbury (SBRY LN) -6.7%, Legal & General Group (LGEN LN) -6.5%, Fresnillo (FRES LN) -5.5%, Essilorluxottica (EL FP) -3.9%

Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.

Try the platform free
Free. No signup, no card.
  • "The service economy has deteriorated due to a diminishing willingness to spend – a typical consequence of uncertainty – pulling overall business activity levels lower"
  • "Preventing the headline 'flash' index from falling even further below 50.0 was the manufacturing sector, which saw a production rebound in April. However, this does not look like a turning point and will likely be temporary, as our survey respondents reported advance purchasing from customers in anticipation of price increases, shortages and logistics issues."
  • "...manufacturing inflation moved even higher in April as a range of raw material costs rose, transportation became more expensive and supply bottlenecks pushed up prices. Services companies are  also feeling the pressure from higher transportation costs."
  • "What's most notable is that the passthrough to prices charged for goods and services remains contained"
  • "Services charges have barely moved since the outbreak of the war..."
Context

While manufacturing saw a temporary rebound, inflationary pressures from raw materials and logistics challenges persist, although importantly, price passthroughs for services remain contained, suggesting muted inflation expectations at this stage. This underperformance could weigh on the euro and may prompt further scrutiny of the ECB's policy stance going forward.

External

Related headlines

The whole workspace, free to try.

Try it free
Newsquawk Logo

© 2026 Newsquawk. All rights reserved.