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Financial News: France Manufacturing Confidence Near Decade High

France Manufacturing Confidence Near Decade High

08/24/2017 - 03:37:00 (RTTNews)

(RTTNews) - French manufacturing confidence strengthened in August to the highest level since late 2007, survey results from the statistical office Insee showed Thursday.

The manufacturing sentiment index improved to 111 in August from revised 108 in July. This was the highest score since December 2007.

Economists had forecast the index to fall to 108 in August from July's initially estimated value of 109.

The indicator for own production expectations rose to 15 from 11, while that for general production expectations fell to 20 from 21.

The balance for export order books remained unchanged at -1 in August, while the global order books balance rose to -2 from -3.

The business climate index that covers the main sectors, improved for the fourth consecutive month in August. The corresponding indicator rose to 109 from 108 in July.

The score has reached an unprecedented level since April 2011, Insee said.

Another survey from Insee showed that business managers in manufacturing continue to forecast a sharp increase in their investment this year.

Business managers in industry forecast a 7 percent increase in their investment spending compared with 2016. Managers have upped by one point their April 2017 estimate.

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