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French Manufacturing Sentiment Weakens In November

French manufacturing sentiment deteriorated in November in the context of a second national lockdown, survey results from the statistical office Insee showed on Tuesday.

The manufacturing confidence index fell less-than-expected to 92 in November from 94 in October. The expected reading was 91. However, the score was well below its long-term average of 100.

Industrialists worsened their opinion on their personal production prospects. The related balance declined to -10, the lowest level since May 2020, from +5 in October.

The balance of opinion on general production expectations diminished more significantly in November. The index lost 27 points to hit -39.

Balances of opinion on overall and foreign order books slightly improved but they still have not caught up with their pre-crisis levels, the survey showed. The overall order books rose to -31 from -33, and the export order books climbed to -43 from -46.

For the first time since May 2020, industrialists' opinion on the past change in production has stopped improving. The past activity index came in at 14 versus 15 in the previous month.

The indicator for past workforce size rose to -9 from -15, while the expected workforce size declined to -16 from -14.

The overall business sentiment index declined sharply to 79 in November from 90 in October as the second lockdown has affected the business prospects, especially in retail trade and in accommodation and food services.

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