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Financial News: French Manufacturing Confidence Falls As Expected

French Manufacturing Confidence Falls As Expected

08/25/2022 - 04:07:00 (RTTNews)

(RTTNews) - Confidence among the French manufacturers weakened further as expected in August, as they were less confident about past changes in production and order books, survey data from the statistical office INSEE showed on Thursday.

The business climate index for the manufacturing sector fell to 104 in August from 106 in July, in line with expectations.

The past production index dropped to 4 in August from 8 in July, while the index measuring manufacturers' general production outlook for the near term recovered somewhat from -5 to -2.

The index for global order books worsened to -10 from -5, and that on foreign order books also decreased from -5 to -8.

However, manufacturers' view regarding personal production expectations over the next three months improved in August, with the corresponding index rising to 13 from 10.

The indicator representing manufacturers' opinion on the expected trend in selling prices rebounded in August after falling sharply in the prior month. The relevant index stood at 40 versus 35 in July.

The overall business confidence index that comprises the responses of business leaders from sectors, namely, manufacturing, construction, services, retail trade and wholesale trade, remained stable at 103 in August.

Morale worsened in services and industry, while it improved in the retail, construction and wholesale trade segments.

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