French Manufacturing Sentiment Weakens In March

(RTTNews) - French manufacturing confidence eased in March mainly due to the weaker opinion on order books, survey results from the statistical office INSEE showed on Friday.

The manufacturing sentiment index fell to 96 in March, while it was forecast to remain unchanged at 97.

The balances of opinion associated with the level of order books, both global and foreign declined in March. The overall order books index eased to -26 from -24. Likewise, the foreign order book balance slid to -22 from -17.

The balance of opinion on personal production prospects slightly increased in March. The corresponding index rose to 7 from 6. At -12, the general production outlook improved from -15.

Further, views about past production were again negative, which was unchanged at -3 in March.

Assessment regarding economic uncertainty felt by business leaders retreated and moved away from its own. The index posted a balance of 25 compared to 29 a month ago. The balance of opinion on the current level of finished-goods inventories was stable at 9, and it remained below its long-term average.

Regarding both past and expected workforce sizes, business leaders' opinion slightly rebounded. The expected workforce balance climbed one point to -3 and their past workforce size balance rose one point to -5.

The balance of opinion related to the expected trend in selling prices over the next three months slightly decreased and moved closer to its average.

The overall business confidence index, which comprises the responses of business leaders from sectors such as manufacturing, construction, services, retail trade, and wholesale trade, rose to 97 from 96 in February.