23.11.202311:14:00UTC+00French Manufacturing Confidence Steady At 99.0

French manufacturers' confidence held steady for the second straight month in November, monthly data from the statistical office INSEE revealed Thursday.

The manufacturing sentiment index came in at 99.0 in November, the same reading as in the previous two months. Meanwhile, economists had expected confidence to fall to 98.0.

Nonetheless, the index still remained just below its long-term average of 100.0.

The survey showed those manufacturers' expectations regarding their own financial situation in the next three months improved somewhat, rising to 6 in November from 5 in the prior month.

General production expectations were slightly more negative in November, with the relevant index falling to -11 from -10 in October.

At the same time, the balance of opinion on past production deteriorated further, as the corresponding index declined to -10 from -9.

The index measuring overall order books stayed stable and negative at -17.

The sub-index for the expected trend in selling prices in the next three months decreased to -1 in November from 0 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, dropped further to 97 in November from 98 in the prior month.