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Financial News: French Manufacturing Confidence Falls As Expected

French Manufacturing Confidence Falls As Expected

09/22/2022 - 04:03:00 (RTTNews)

(RTTNews) - The confidence among French manufacturers eased further as expected in September, though marginally, survey results from the statistical office Insee showed on Thursday.

The manufacturing confidence index dropped to 102 in September from 103 in August. That was in line with economists' expectations.

This downturn was due to the decrease in the balance of opinion on the expected trend in production as well as on order books.

The general production outlook index fell to -6 in September from-2 in August. Meanwhile, manufacturers' views towards past production improved, with the relevant index rising to 6 from 3.

The order book balance weakened to -13 from -10, and the foreign order book balance declined to -12 from +8.

The personal production expectations came in at 9, down from 12. Similarly, the general production outlook index worsened to -6 from -2.

The balance on the expected trend in selling prices rose marginally in September, as the corresponding index stood at 41 versus 40 in August.

The overall business confidence index that comprises the responses of business leaders from sectors, namely, manufacturing, construction, services, retail trade and wholesale trade, declined to 102 in September from 104.0 in August.

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