French Manufacturing Sentiment Weakens In September

(RTTNews) - French manufacturing confidence deteriorated in September as views on past production and general production outlook weakened, survey results from the statistical office INSEE showed on Friday.

The manufacturing sentiment index slid to 96 in September, in line with expectations, from 97 in August.

The balance of opinion on past production fell back notably to -8 from -1. Conversely, the index measuring personal production prospects advanced to 8 from -4.

At the same time, general production prospects in the industry deteriorated in September. The corresponding indicator dropped to -14 from -12.

The gauge indicating economic uncertainty felt by business leaders rebounded in September, with the index hitting 31, up from 27 a month ago.

The balances of opinion associated with the level of order books, both global and foreign, declined in September. The overall order books balance worsened to -23 from -20. Likewise, the foreign order books balance fell to -17 from -15.

The survey showed that assessment about the current level of finished-goods inventories rebounded in September. The index advanced to 16 from 11 in August. The balance of opinion on the past evolution of workforce size decreased after three months of stability. Meanwhile, the index for expected evolution of workforce size increased again.

The balance of opinion relating to the expected trend in selling prices over the next three months decreased again, to 2 from 3 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, remained unchanged at 96.0 in September. Meanwhile, the employment climate index dropped to 93 from 95.