Financial News: French Manufacturing Sentiment Weakens In April

French Manufacturing Sentiment Weakens In April

04/25/2024 - 05:23:00 (RTTNews)

(RTTNews) - France's manufacturing confidence weakened in April largely due to the worsening order books, monthly survey results from the statistical office INSEE showed on Thursday.

The manufacturing confidence index fell more-than-expected to 100 in April from upwardly revised 103 in March. The reading was seen at 102.

The balances of opinion associated with the level of the order books, both overall and foreign clearly retreated in April. The overall order book balance slid to -19 from -13 and the foreign order book balance posted -11, the lowest since September 2023 and down from -5 in March.

Personal production expectations over the coming three months weakened in April but remained above its average. The personal production outlook index registered 9 versus 10 in March.

The one relative to the general prospects of production was stable with the index steady at -7.

The survey showed that economic uncertainty felt by the business leaders was stable. The corresponding balance remained unchanged at 28.

The balance of opinion associated with the current level of finished goods inventories increased to 11 from 7.

Regarding the workforce size, the balances of opinion on the past and the expected change were almost stable. The index for that past workforce size held steady at 3 and that for future workforce size dropped slightly to 4.

The balance of opinion related to the expected trend in selling prices over the next three months rebounded to +3 from -1. The survey was conducted between March 27 and April 22.

The overall business confidence index, which comprises the responses of business leaders from sectors namely manufacturing, construction, services, retail trade, and wholesale trade, dropped to 99 in April from 100 in March.

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