Confidence in French manufacturing sector improves in March
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On March 23, France's National Institute of Statistics and Economic Studies (INSEE) announced that confidence levels in the domestic manufacturing sector rose three points month on month in March this year, regaining its level recorded in November 2011, following a survey carried out among French business leaders.
The business leaders polled stated that their recent activity has continued to weaken in the French manufacturing industry, while stocks of finished products are below normal levels. Total order books have slightly improved but are still rated as low, while export order books have improved markedly but continue to be rated below their historical average.
In addition, activity in the French manufacturing industry is expected to be more dynamic in the coming months. The general production outlook, which represents business leaders' opinion on French industry as a whole, has improved strongly but has remained below the long-term average.
On the other hand, in the French building industry, the business climate indicator has lost a point and remains under its long-term average, while the turning-point indicator is in the unfavorable zone.
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