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France Manufacturing Confidence Lowest Since 2016

France manufacturing confidence deteriorated for the first time in five months in April to its lowest level in over two-and-a-half years, preliminary data from the statistical office INSEE showed on Wednesday.

The manufacturing confidence index fell to 101 from a revised 103 in March. The reading held steady at 103 since December.

The latest confidence score was the lowest since June 2016, when it was at the same 101 level.

The reading remained slightly above its long-term average of 100.

Industrialists' assessment of past activity, overall order books, and personal as well as general production expectations deteriorated in April.

Their view on the finished-goods inventory improved slightly, while the assessment of export orders books remained unchanged in negative territory.

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