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French Manufacturers' Confidence Improves In June

Confidence among French manufacturers improved to a three-month high in June as production expectations bounced back after containment measures related to coronavirus were eased, survey results from the statistical office Insee showed Wednesday.

The business confidence index for the manufacturing sector rose to 77 in June from 71 in May. Nonetheless, the score remained far below its long-term average of 100.

After collapsing to a record low in April, the personal production expectations index advanced to +19 from -12 a month ago.

The balance of opinion on the general production prospects for the sector picked up to -15 from -49 in May, but stayed well below its average.

The total order book balance remained stable at -56 in June and the one on foreign order books declined further to -65.

The indicator for past workforce size dropped o -29, while the indicator for future workforce improved to -21 in June.

The overall business confidence index gained 18 points, the biggest monthly rise since the start of the series in 1980. The score reached 78 in June, but remained below its long-term average of 100.

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