France's National Institute of Statistics and Economic Studies (INSEE) has announced that in September this year, confidence levels in the domestic manufacturing sector is stable compared to August but remained markedly below its long-term average, following a survey carried out among French business leaders. Despite of a slightly increase recorded in August, the turning point indicator remains in the unfavorable area.
The business leaders polled stated that their activity in the French manufacturing industry has markedly decreased, while stocks of finished products also decreased. Total order books have increased but are rated as very low.
In addition, the outlook for activity in the French manufacturing industry in the coming months is considered to be unfavorable. The general production outlook, which represents business leaders' opinion on French industry as a whole, weakens slightly and remains very below its long-term average.
On the other hand, in the French building industry, the business climate indicator fell by one point month on month in September and remained below its long-term average, while the turning point indicator is again in the unfavorable zone.