Financial News: French Manufacturing Confidence Hits 1-Year High

French Manufacturing Confidence Hits 1-Year High

03/21/2024 - 05:22:00 (RTTNews)

(RTTNews) - French manufacturers' confidence improved in March to the highest level in a year, largely driven by increases in production expectations and order books, monthly data from the statistical office INSEE revealed Thursday.

The manufacturing sentiment index rose to 102.0 in March from a revised 101.0 in the previous month. Meanwhile, economists had expected confidence to fall to 100.

In addition, the index remained above its long-term average of 100.0 for the second straight month. The latest score was the highest since March last year, when it was 103.

In March, the rebound was primarily attributed to improved opinions on personal production expectations over the next three months. The corresponding index rose to 10 in March from 4.0 in February.

The index measuring overall order books improved somewhat to -14 from -17.

The survey showed that general production expectations were slightly less negative in March, with the relevant index rising to -7 from -8 in February.

The index measuring opinion regarding past production evolution over the past three months climbed to 1.0 from 0.

The sub-index for the expected trend in selling prices in the next three months decreased to -1 in March from 0 in the previous month.

The overall business confidence index, which comprises the responses of business leaders from sectors such as manufacturing, construction, services, retail trade, and wholesale trade, strengthened to 100 in March from 98 in the prior month.

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