初步估计显示，2025年1月，HCOB法国综合采购经理人指数微升至48.3，略高于12月的47.5，超过了市场预期的47.7。虽然该数据标志着该国私营部门连续第五个月出现收缩，但也表明了四个月来最温和的下降。1月份的疲软收缩是由制造业推动的（采购经理人指数为45.3，而12月为41.9），该行业经历了自2024年中期以来的最小产量下降。

The HCOB France Composite PMI edged up to 48.3 in January 2025, slightly higher than December’s 47.5 and exceeding market expectations of 47.7, preliminary estimates showed. While the data marked the fifth consecutive month of contraction in the country's private sector, it also pointed to the mildest decline in four months. The softer contraction in January was driven by the manufacturing sector (PMI at 45.3 vs 41.9 in December), which experienced its smallest drop in production since mid-2024.

初步估计显示，HCOB Flash法国制造业采购经理人指数从12月的41.9升至2024年1月的45.3，高于42.3的预测。最新数据是自去年6月以来最温和的收缩，但仍表明法国制造业仍存在严重收缩。由于国内和国际订单量下降，工业公司面临巨大压力。虽然投入价格仍然存在通货膨胀，但1月份的涨幅明显低于长期平均水平。相比之下，产出价格正在下降，反映出需求疲软。

The HCOB Flash France Manufacturing PMI rose to 45.3 in January 2024, up from 41.9 in December, and above forecasts of 42.3, preliminary estimates showed. The latest reading was the softest contraction since June last year, but still indicative that the French manufacturing sector remains deeply contractionary. Industrial companies are under significant pressure due to declining order volumes both domestically and internationally. While input prices remain inflationary, January's increase was notably below the long-term average. In contrast, output prices are falling, reflecting weak demand.

法国HCOB综合采购经理人指数为48.3，高于1月份的预测（47.7）。法国HCOB综合采购经理人指数为48.3，高于1月份的预测（47.7）

France HCOB Composite PMI came in at 48.3, above forecasts (47.7) in January.France HCOB Composite PMI came in at 48.3, above forecasts (47.7) in January

法国HCOB服务业PMI为48.9，低于预期（49.4）。法国HCOB服务业PMI为48.9，低于预期（49.4）

France HCOB Services PMI registered at 48.9, below expectations (49.4) in January.France HCOB Services PMI registered at 48.9, below expectations (49.4) in January