BAROMETER. Road freight transport prices in France rose by 1.3% in July, driven by rising diesel prices. But beware, the volumes to be transported are decreasing and some signals seem to show a return to stagflation.
In July 2025, private sector activity in France contracted for the 11th consecutive month, according to the S&P Global Flash PMI index, marking a deterioration in demand at the start of the third quarter. The decline, although slight, reflects increased fragility in the eurozone's second-largest economy, with optimism waning among businesses worried about shrinking budgets, weak sales prospects and political uncertainty. INSEE anticipates a significant slowdown in French growth in 2025 (+0.6% after +1.1% in 2024), in a context of budgetary restrictions and global economic uncertainties.
Conversely, the Eurozone is showing a more marked recovery, with a PMI index of 50.9 in July (compared to 50.6 in June), its strongest growth since August 2024. This improvement is driven by services, which recorded their best performance since January, while industry remains sluggish, although the recession appears to be easing. In an interview with the newspaper Les Échos Investir, Cyrus de la Rubia, economist at Hamburg Commercial Bank, underlines that this dynamic is driven by Germany and most of the countries in the zone, with the exception of France, whose weakness weighs on...
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