S&P Global reported on June 1, 2026, that France’s manufacturing sector unexpectedly contracted in May. This marks the first industry decline since November 2022.
The final Purchasing Managers' Index (PMI) fell to 49.7. This figure represents a sharp drop from April’s reading of 52.8. The current level sits below the 50.0 threshold that separates growth from contraction.
Soaring energy prices and logistical disruptions drove the downturn. Ongoing geopolitical tensions in the Middle East exacerbated these supply chain issues.
The manufacturing slump signals a potential slowdown in demand for platinum. Industrial processes and autocatalysts rely heavily on the metal as a key component.