French manufacturing sentiment improved to a four-month high in July, survey data from the statistical office Insee showed Thursday.
The manufacturing confidence index rose to 82 from 78 in June. This was the third consecutive rise in sentiment after losing 30 points in April due to the [health][1] crisis.
However, the score remained well below its long-term average of 100 and economists’ forecast of 85.0.
The personal production expectations index climbed to 24 from 20 in June. Likewise, the general production expectations indicator came in at -3 versus -15 in the previous month.
The balances of opinion on total and foreign order books recovered very slightly in July. The corresponding indices came in at -50 and -63, respectively.
The balance regarding inventories remained practically stable, at 14 in
July.
The indicator for past employment picked up to -25 and that for expected
change recovered gradually to -15.
The overall [business][2] climate continued its recovery started in May. The index advanced to 85 in July from 78 in June.
According to quarterly survey, the production capacity utilization rate in industry surged in July, offsetting slightly more than half of its April fall.
The production capacity utilization rate rose to 74 percent in July from a record low of 61 percent in April.
However, industrialists’ balance of opinion on changes in demand over the last three months, overall and abroad, markedly deteriorated further, while demand prospects for both overall and abroad, bounced back from April.
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