Financial News: French Manufacturing Confidence Steady At 99

French Manufacturing Confidence Steady At 99

09/20/2024 - 03:43:00 (RTTNews)

(RTTNews) - The confidence among French manufacturers remained stable in September after strengthening in the previous month, monthly data from the statistical office INSEE revealed Friday.

The manufacturing sentiment index stood at 99.0 in September, the same as in August, and remained just below its long-term average of 100. That was in line with expectations.

The opinion regarding the evolution of production over the last three months rebounded in September, while the overall order book balance worsened, the agency said.

The index measuring personal production expectations remained positive but dropped slightly to 6.0 in September from 7.0 in the previous month. Meanwhile, producers' past production situation improved notably to -6.0 from -13 in August.

The index measuring overall order books declined to -19 from -16.

The survey showed that general production expectations were slightly less negative in September, with the relevant index rising to -11 from -12 a month ago.

The sub-index for the expected trend in selling prices in the next three months decreased to 1.0 in September from 2.0 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, continued its recovery in September, with the measure rising to 98 from 97 in August. Similarly, the employment climate index rose to 100 from 98.

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