France's National Institute of Statistics and Economic Studies (INSEE) has announced that confidence levels in the domestic manufacturing sector fell two points month on month in May this year, following a survey carried out among French business leaders. The turning point indicator in the month in question entered the unfavorable zone.
The business leaders polled stated that their recent activity in the French manufacturing industry remained at low levels, while stocks of finished products increased slightly and reached their long-term average. Total order books decreased noticeably and were rated as very low, while export order books remained steady and continued to be rated below their historical average.
In addition, activity in the French manufacturing industry is not expected to be dynamic in the coming months. 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 one point month on month in May and remained under the long-term average, while the turning point indicator is again in the unfavorable zone.