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Financial News: French Manufacturing Confidence Steady At 99

French Manufacturing Confidence Steady At 99

06/21/2024 - 05:13:00 (RTTNews)

(RTTNews) - The confidence among French manufacturers remained stable in June after easing in the previous two months, monthly data from the statistical office INSEE revealed Friday.

The manufacturing sentiment index stood at 99.0 in June, the same as in May, and remained just below its long-term average of 100. Meanwhile, economists had expected confidence to increase to 100.0.

The opinion regarding the evolution of production over the last three months has diminished again, while personal production expectations over the next three months showed a renewed rise, the agency said.

The index measuring personal production expectations strengthened to 4.0 in June from 2.0 in the previous month. Meanwhile, producers' past production situation worsened to -2.6 from -2 in May.

The index measuring overall order books weakened somewhat to -18 from -17.

The survey showed that general production expectations were more negative in June, with the relevant index falling to -11 from -9 a month ago.

The sub-index for the expected trend in selling prices in the next three months rose to 0 in June from -1 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, also held steady for the second straight month at 99.0 in June. Meanwhile, the employment climate index deteriorated to 100 from 102.0.

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