The sentiment among French manufacturers remained stable in December, following signs of improvement observed in the previous month, as detailed in the latest monthly report from the statistical office INSEE, released on Thursday.
The manufacturing sentiment index held steady at 97 in December, unchanged from November, though it continued to trail below its long-term average benchmark of 100. Analysts had predicted a slight dip to 96.0.
The survey found that while opinions regarding order books showed an upswing, sentiments related to production experienced a decline.
A notable shift was observed in the index measuring personal production expectations, which slipped into negative territory, dropping to -1.0 in December from +5.0 in November. Additionally, the past production situation of producers showed further deterioration, falling to -9.0 from -7.
On a brighter note, the index reflecting the overall status of order books saw a minor improvement, climbing to -18 from -21. However, the survey indicated that general production expectations became more pessimistic, with the relevant index declining to -19 from -14 in the previous month.
The outlook for selling prices over the next three months showed a slight decrease in anticipated upward trends, with the sub-index falling to 2.0 from 3.0.
The overall business confidence index, incorporating responses from leaders across various sectors including manufacturing, construction, services, retail, and wholesale trade, experienced further weakening in December, dropping to 94 from 96. Similarly, the employment climate index receded to 96 from a previous 98.
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