French Manufacturing Confidence Weakens In October

(RTTNews) - French manufacturers' sentiment weakened slightly in October reflecting the deterioration in personal production expectations, survey results from the statistical office INSEE showed on Thursday. The manufacturing sentiment index dropped to 98 in October from 99 in September. The score was forecast to remain unchanged at 99.0.

The assessment of past production weakened to the lowest since July 2020, with the index falling to -11 in October from -6 in the previous month.

Likewise, the balance of opinion on personal production expectations over the next three months reached below its historic average, at 5 in October after rebounding to 17 in September.

The general production prospects in the industry were assessed to be less favorable due to economic uncertainty. The corresponding index came in at -10 versus -6 a month ago.

The balance of opinion associated with the level of the foreign order-books improved sharply to -3.0 from -13 and the one relative at the level of the overall order-books climbed to -17 from -22.

The balance of opinion associated with the current level of the inventories of finished-goods rebounded to 17 from 14 in the previous month.

The balances of opinion associated with the past and expected change in the workforce size decreased to 3 and 7, respectively.

The balance of opinion related to the expected trend in selling prices over the next three months has withdrawn and has gone below its average, the statistical office said.

The survey also showed that the overall business confidence index, which comprises the responses of business leaders from sectors such as manufacturing, construction, services, retail trade, and wholesale trade, darkened in October. The index slid to 98 from 100 in the previous month.