Confidence in French manufacturing down for fourth straight month

France's National Institute of Statistics and Economic Studies (INSEE) has announced that confidence levels in the domestic manufacturing sector fell one point month on month in July this year, following a survey carried out among French business leaders. The turning point indicator in the month in question fell to its early 2010 level, after four consecutive months of decline.
 
The business leaders polled stated that the rhythm of activity in the French manufacturing industry remained negatively oriented, while stocks of finished products are steady and are below their long-term average. Total order books are nearly steady and are rated as very low. Finally, export order books decreased significantly and are considered 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, weakened strongly and remained significantly below its long-term average.
 
On the other hand, in the French building industry, the business climate indicator fell by two points month on month in July and remained under the long-term average, while the turning point indicator is again in the unfavorable zone.