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Financial News: France Manufacturing Confidence At 6-month High

France Manufacturing Confidence At 6-month High

09/24/2020 - 08:20:00 (RTTNews)

(RTTNews) - France's manufacturing confidence improved more-than-expected in September to its highest level in six months, survey data from the statistical office INSEE showed on Thursday. The manufacturing confidence indicator rose to 96 from 93 in August. Economists had forecast a score of 95. The latest reading was the highest since March, when it was at 98, and moved closer to its long-term average of 100.

INSEE attributed the latest improvement mainly to the increase in the balances of opinion on past production and overall order-books. The improvement was curbed by the sharp fall in the balance of opinion on personal production prospects.

The indicators for past and expected employment continued their rebound. Separately, INSEE reported that the overall business climate index rose to 92 in September from 90 in August. The modest improvement in the index was attributed to the rise in the balances of opinion on the activity developments in the last three months, in services, manufacturing and building construction. This was partially offset by the decline in the balances on the general outlook of activity in services and on personal activity prospects in services and in manufacturing.

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