Financial News: French Manufacturing Confidence Improves In November

French Manufacturing Confidence Improves In November

11/21/2024 - 03:30:00 (RTTNews)

(RTTNews) - The confidence among French manufacturers rebounded partially in November after weakening sharply in the prior month, monthly data from the statistical office INSEE revealed Thursday.

The manufacturing sentiment index rose to 97 from 93 in October. However, the index is still below its long-term average of 100. The expected score was 95.0.

All of the balances of opinion defining the climate have contributed to its rebound, except the general production prospects, the agency said.

The index measuring personal production expectations turned positive and rose to 6.0 in November from -2.0 in the previous month. Producers' past production situation improved although it remained negative, and the index rose to -7.0 from -12 in October.

The index measuring overall order books increased to -21 from -25.

The survey showed that general production expectations were slightly more negative in November, with the relevant index falling to -14 from -12 a month ago.

The sub-index for the expected trend in selling prices in the next three months decreased to 3.0 in November from 7.0 in the previous month.

The overall business confidence index, which comprises the responses of business leaders from sectors such as manufacturing, construction, services, retail trade, and wholesale trade, lost its recovery trend further in November, with the measure falling to 96 from 97 in October. Meanwhile, the employment climate index rose to 99 from 97.

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