PARIS (dpa-AFX) - French manufacturing confidence remained positive and stable in September, survey results from the statistical office INSEE showed on Thursday.
The manufacturing sentiment index stood at 101 in September, the same as in the previous month. Meanwhile, economists had expected the index to rise to 102. Moreover, the index stayed one point above its long-term average of 100.
The index measuring personal production prospects strengthened to 15 from 12 in August, and their past production index also rose to 0 from -4. The opinion regarding general production expectations improved somewhat, with the index rising to -9 from -10.
There was a sharp rebound for the finished-goods inventory section, with the corresponding index rising to 13 from 6.
On the other side, the overall order book balance showed more negative in September, and the index weakened to -16 from -14. The survey revealed that the foreign order book balance remained stable at -12.
Manufacturers expected a rising trend for selling prices over the next three months, and the respective index climbed to 14 from 10. This increase concerns all sub-sectors and is particularly marked in the manufacturing of food products and beverages.
The composite business confidence indicator decreased to 96 in September from 98 in August. The business climate indicator remained stable in industry and construction, while it deteriorated significantly in retail trade and more slightly in services and wholesale trade.
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