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Financial News: French Manufacturing Sentiment Improves Slightly In August

French Manufacturing Sentiment Improves Slightly In August

08/27/2019 - 03:31:00 (RTTNews)

(RTTNews) - French manufacturing confidence improved slightly in August on a rebound in order books and production expectations, survey results from the statistical office Insee showed Tuesday.

The manufacturing sentiment index rose to 102 in August from 101 in July. The score was also above its average of 100.

The turning-point indicator has moved to the area indicating a favorable economic outlook, the statistical office said.

The balance of opinion on overall order books rebounded to -14 after reaching its lowest level for four years in July. The export order books balance climbed to -11.

Industrialists were more optimistic on the general production prospects with the index rising to 2 from zero. The balance of opinion on their personal production expectations climbed to 8 from 7 in the previous month.

The survey showed that the overall business confidence index held steady at 105 in August.

Another survey from Insee showed that business managers lowered their investment expectations. Business leaders anticipate to increase their investment spending by 6 percent this year. Nonetheless, managers lowered their April estimate by 5 points.

Investment is expected to pick up in the sector of electrical, electronic and machine equipment and in the "other manufacturing" sector.

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