2019.12.1907:23:00UTC+00France Manufacturing Confidence Remains Stable

French manufacturing confidence remained unchanged in December, survey results from the statistical office Insee showed Thursday.

The manufacturing sentiment index held steady at 102, well above the forecast of 99 and the long-term average of 100.

The survey showed that the balance of opinion on past production reached its highest level since February 2019.

The balance on personal production prospects improved even more sharply to 7 in December from 3 November. Meanwhile, the balance on general production prospects declined notably to -6 from -2.

The overall order book balance fell to -11 from -9, and the export order books balance slid slightly to -15 from -14. At the same time, the finished-goods inventory balance remained at 18 in December.

Regarding employment, the survey revealed that managers' opinion on past and expected variations worsened. Both indicators remained above their long-term average.

The turning point indicator stayed in the area indicating a favorable economic outlook, Insee said.

The overall business confidence index held steady at 106 in December. Sentiment improved in services and retail, while it remained unchanged in building construction.