France's National Institute of Statistics and Economic Studies (INSEE) has announced that confidence levels in the domestic manufacturing sector rose one point month on month in August this year, following a survey carried out among French business leaders. The turning point indicator remains in the unfavorable area despite a rebound in August, after four consecutive months of decline.
The business leaders polled stated that their activity in the French manufacturing industry is not dynamic, while stocks of finished products are steady and are near their long-term average. Total order books have deteriorated and are rated as very low. Finally, export order books have improved significantly but are also considered very low.
In addition, the outlook for activity in the French manufacturing industry in the coming months is considered to be more favorably oriented but is expected to stay weak. The general production outlook, which represents business leaders' opinion on French industry as a whole, is steady but remains significantly below its long-term average.
On the other hand, in the French building industry, the business climate indicator rose by one point month on month in August but remained under the long-term average, while the turning point indicator is again in the unfavorable zone.