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Informations Rapides · 15 December 2022 · n° 322
Informations rapidesIn December 2022, the business climate in manufacturing industry is stable Monthly business survey (goods-producing industries) - December 2022

According to the business managers surveyed in December 2022, the indicator of the business climate in the manufacturing industry is stable. At 101, the composite indicator remains slightly above its average (100). The balance of opinion related to the past change in production has rebounded. However, the one on the level of the foreign order-books has degraded and has fallen under its average. Moreover, the balance of opinion related to the expected trend in selling prices during the next three months has grown again in December and has gotten closer to its highest level.

Informations rapides
No 322
Paru le :Paru le15/12/2022
Prochaine parution le : 19/09/2025 at 08:45 - September 2025
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According to the business managers surveyed in December 2022, the indicator of the business climate in the manufacturing industry is stable. At 101, the composite indicator remains slightly above its average (100). The balance of opinion related to the past change in production has rebounded. However, the one on the level of the foreign order-books has degraded and has fallen under its average. Moreover, the balance of opinion related to the expected trend in selling prices during the next three months has grown again in December and has gotten closer to its highest level.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
2022-12 101.4
2022-11 101.0
2022-10 102.9
2022-09 101.5
2022-08 103.4
2022-07 105.6
2022-06 107.9
2022-05 106.3
2022-04 107.6
2022-03 107.4
2022-02 112.3
2022-01 112.8
2021-12 109.7
2021-11 109.4
2021-10 107.0
2021-09 106.4
2021-08 109.5
2021-07 109.1
2021-06 107.7
2021-05 107.0
2021-04 103.4
2021-03 98.4
2021-02 98.1
2021-01 96.3
2020-12 95.2
2020-11 91.7
2020-10 94.0
2020-09 94.0
2020-08 91.4
2020-07 81.5
2020-06 77.3
2020-05 70.1
2020-04 66.6
2020-03 97.3
2020-02 100.9
2020-01 102.6
2019-12 99.3
2019-11 101.8
2019-10 99.4
2019-09 101.5
2019-08 102.0
2019-07 101.2
2019-06 101.8
2019-05 103.7
2019-04 101.2
2019-03 103.3
2019-02 103.4
2019-01 103.5
2018-12 103.5
2018-11 105.1
2018-10 104.2
2018-09 107.1
2018-08 108.6
2018-07 108.3
2018-06 109.6
2018-05 109.7
2018-04 110.4
2018-03 110.5
2018-02 112.5
2018-01 113.7
2017-12 111.8
2017-11 111.5
2017-10 111.0
2017-09 110.9
2017-08 110.0
2017-07 108.0
2017-06 108.8
2017-05 108.7
2017-04 108.5
2017-03 105.5
2017-02 106.7
2017-01 105.9
2016-12 105.7
2016-11 102.1
2016-10 102.1
2016-09 103.4
2016-08 101.5
2016-07 101.5
2016-06 101.5
2016-05 104.3
2016-04 104.7
2016-03 102.5
2016-02 102.9
2016-01 102.7
2015-12 102.5
2015-11 102.3
2015-10 103.1
2015-09 104.7
2015-08 103.5
2015-07 101.5
2015-06 100.2
2015-05 101.7
2015-04 101.5
2015-03 98.9
2015-02 98.4
2015-01 98.7
2014-12 98.7
2014-11 98.8
2014-10 97.3
2014-09 96.8
2014-08 96.5
2014-07 96.2
2014-06 96.5
2014-05 98.2
2014-04 100.2
2014-03 100.7
2014-02 98.2
2014-01 99.5
2013-12 99.2
2013-11 98.1
2013-10 97.8
2013-09 95.8
2013-08 98.4
2013-07 94.6
2013-06 92.6
2013-05 92.0
2013-04 87.6
2013-03 90.5
2013-02 90.4
2013-01 89.7
2012-12 90.8
2012-11 91.6
2012-10 87.0
2012-09 92.6
2012-08 92.8
2012-07 91.0
2012-06 93.0
2012-05 94.7
2012-04 95.5
2012-03 96.4
2012-02 94.8
2012-01 94.8
2011-12 94.6
2011-11 97.5
2011-10 97.3
2011-09 99.1
2011-08 101.2
2011-07 104.8
2011-06 109.8
2011-05 107.2
2011-04 110.1
2011-03 110.1
2011-02 106.8
2011-01 108.6
2010-12 104.1
2010-11 101.7
2010-10 104.0
2010-09 102.8
2010-08 100.3
2010-07 97.2
2010-06 95.6
2010-05 96.4
2010-04 94.9
2010-03 91.0
2010-02 88.5
2010-01 90.0
2009-12 87.3
2009-11 87.4
2009-10 85.0
2009-09 83.8
2009-08 80.7
2009-07 76.2
2009-06 74.7
2009-05 72.1
2009-04 70.4
2009-03 66.4
2009-02 68.3
2009-01 72.4
2008-12 73.2
2008-11 79.6
2008-10 86.9
2008-09 91.5
2008-08 98.0
2008-07 98.7
2008-06 103.4
2008-05 104.1
2008-04 107.3
2008-03 109.9
2008-02 110.2
2008-01 110.5
2007-12 112.4
2007-11 112.2
2007-10 109.9
2007-09 110.5
2007-08 110.9
2007-07 111.4
2007-06 111.2
2007-05 110.0
2007-04 111.9
2007-03 111.3
2007-02 111.7
2007-01 108.2
2006-12 109.2
2006-11 109.6
2006-10 107.1
2006-09 108.0
2006-08 108.5
2006-07 108.9
2006-06 108.6
2006-05 108.8
2006-04 107.8
2006-03 106.3
2006-02 106.5
2006-01 103.0
2005-12 104.0
2005-11 101.0
2005-10 101.0
2005-09 98.8
2005-08 99.6
2005-07 100.0
2005-06 98.9
2005-05 96.9
2005-04 96.5
2005-03 99.6
2005-02 103.0
2005-01 103.2

Business climate in manufacturing - Composite indicator

  • Source: INSEE

Industrialists’ opinion on manufacturing activity

Balance of opinion, in %, SA
Industrialists’ opinion on manufacturing activity (Balance of opinion, in %, SA)
Manufacturing industry Ave.* Sep-22 Oct-22 Nov-22 Dec-22
Composite indicator 100 102 103 101 101
Past production 5 5 6 0 8
Finished-goods inventory 12 15 20 27 27
Overall order books -18 -13 -12 -16 -16
Foreign order books -14 -12 -8 -10 -17
Past workforce size -9 5 8 10 13
Expected workforce size -10 14 14 12 14
Personal production expectations 6 8 12 17 16
General production expectations -7 -6 -8 -10 -7
Expected trend in selling prices 4 38 31 39 49
Economic uncertainty felt** 29 38 37 36 39
  • * Long-term average since 1976 except for the economic uncertainty felt (April 2021).
  • ** Balance of opinion not CVS
  • Source: INSEE - Monthly business tendency survey in industry

The balance of opinion on the past production has rebounded

In December 2022, the balance of opinion on the past production has recovered over its average, after having clearly diminished in November. The one on the personal prospects of production has barely decreased and remains over its own. Lastly, the one on the general prospects of production has recovered after three months of decline and has regained its average level.

After its sharp rise last month, the balance of opinion related to the current level of the inventories of finished-goods is stable and remains at its highest level since 2008.

The balance of opinion associated with the level of the overall order-books, almost continuously declining since July 2022, is unaltered and remains above its average. However, the one associated to foreign order-books has distinctly worsened and has fallen back under its average.

The balance of opinion related to the expected trend in selling prices during the next three months has grown again in December and has gotten closer to the record of the series, reached in May 2022. Besides, the balance of opinion on economic uncertainty felt by the business managers has reached a new high level since the series has been published (April 2021).

The balances of opinion associated with the past and expected change in workforce size have risen, well above their average.

The share of companies declaring supply difficulties as a factor limiting their production is stable after four consecutive months of decline. In December, 33% of enterprises have declared suffering from them, a share that remains largely above its long-term average. The proportion of companies declaring themselves to be limited in their production by a lack of personnel has slightly rebounded, to 22%, and remains above its average.

Share of compagnies declaring obstables limiting their production

Share of enterprises, in % of answers, CVS
Share of compagnies declaring obstables limiting their production (Share of enterprises, in % of answers, CVS)
Manufacturing industry Moy.** Sep-22 Oct-22 Nov-22 Dec-22
Difficulties of supply and demand 9 10 10 10 13
Sourcing difficulties 10 41 37 32 33
Workforce shortage 9 23 23 20 22
Difficulties of supply only 22 50 53 49 49
Difficulties of demand only 40 13 13 15 15
  • * Quaterly series from January 1991 then monthly series from May 2022
  • ** Long-term average since 1991 on monthly series (over the quarterly collection period, the point collected in the first month of each quarter was carried over identically to the following two months).
  • Sources : INSEE – Quarterly business survey in industry

The business climate has worsened in the manufacture of food products and beverages as well as motor vehicles

In the manufacture of food products and beverages, the indicator of the business climate has clearly diminished and has gone back under its average. It has been mainly pulled down by the degradation of the balances of opinion on the past change in production and on the overall order books.

In the manufacture of transport equipment, the business climate has also worsened. It has deteriorated in the manufacture of motor vehicles where the balances of opinion on the order-books have sharply fallen. However, the climate has somewhat improved in the manufacture of other transport equipment.

The business climate has been stable in the “other industries”. Nevertheless, in the manufacture of chemicals and chemical products and in the manufacture of wood, paper and printing, the climates have darkened again.

Finally, in the manufacture of machinery and equipment goods the business climate has improved, in particular for the computer, electronic and optical products.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2022-12 98.6 112.5 100.4 95.1
2022-11 104.3 110.1 102.4 95.5
2022-10 107.0 113.0 105.5 95.7
2022-09 106.4 110.3 99.3 97.9
2022-08 107.0 112.4 100.6 99.2
2022-07 107.1 111.9 106.2 101.3
2022-06 108.6 110.9 103.1 105.8
2022-05 105.4 110.4 102.3 104.3
2022-04 107.7 112.6 101.9 108.7
2022-03 110.5 111.5 100.7 108.0
2022-02 110.4 115.0 106.0 111.4
2022-01 109.9 116.1 106.2 110.5
2021-12 116.8 115.9 90.8 112.2
2021-11 115.4 115.5 96.5 113.2
2021-10 111.6 115.4 91.5 110.3
2021-09 109.2 115.1 89.0 112.1
2021-08 111.3 119.6 93.6 112.4
2021-07 114.5 115.0 92.9 114.0
2021-06 118.7 114.9 90.8 110.5
2021-05 115.0 111.6 91.0 109.7
2021-04 104.1 113.3 89.6 107.2
2021-03 100.3 106.6 84.7 104.1
2021-02 93.8 105.8 91.1 101.4
2021-01 89.3 104.6 88.6 100.4
2020-12 89.5 96.3 88.1 101.9
2020-11 92.3 91.7 89.8 94.7
2020-10 93.3 94.6 91.7 94.6
2020-09 102.2 91.3 92.4 92.3
2020-08 95.9 91.7 91.5 87.5
2020-07 89.0 85.1 80.4 81.2
2020-06 92.3 78.9 77.2 78.8
2020-05 90.0 75.9 75.6 73.9
2020-04 91.3 76.7 73.2 73.3
2020-03 106.7 97.9 96.0 97.2
2020-02 107.4 99.3 100.6 100.1
2020-01 107.2 100.6 106.2 99.3
2019-12 107.3 97.2 99.8 97.9
2019-11 103.6 97.6 105.8 100.8
2019-10 105.1 96.3 100.9 98.8
2019-09 107.5 99.2 101.5 101.1
2019-08 108.1 99.6 101.5 101.3
2019-07 104.3 102.6 99.5 100.2
2019-06 108.5 98.7 101.0 100.4
2019-05 111.5 103.9 102.9 101.9
2019-04 106.1 101.0 101.4 100.7
2019-03 105.9 100.6 103.1 101.3
2019-02 107.9 104.5 101.2 101.1
2019-01 107.3 103.1 103.0 101.9
2018-12 107.1 102.0 102.8 102.3
2018-11 109.1 101.7 104.3 102.7
2018-10 102.0 106.5 104.0 102.6
2018-09 106.8 106.9 105.5 104.6
2018-08 107.5 107.7 106.9 105.5
2018-07 107.4 107.7 106.5 106.2
2018-06 110.1 107.5 110.3 105.4
2018-05 107.6 110.9 108.6 107.4
2018-04 108.8 109.6 112.9 107.4
2018-03 108.4 109.7 111.8 109.2
2018-02 109.8 110.5 112.7 109.7
2018-01 110.9 112.1 112.7 110.7
2017-12 110.5 110.8 110.8 110.4
2017-11 112.1 109.3 109.5 110.8
2017-10 110.7 109.2 108.9 110.1
2017-09 107.0 107.0 109.8 108.2
2017-08 108.4 106.5 108.9 108.0
2017-07 108.4 108.6 108.7 106.5
2017-06 111.3 108.0 105.6 108.1
2017-05 105.6 108.6 105.9 106.9
2017-04 103.4 106.8 106.4 107.6
2017-03 103.8 104.5 105.9 104.6
2017-02 105.2 103.8 106.8 106.0
2017-01 103.5 102.3 107.2 105.2
2016-12 108.1 103.5 105.0 104.5
2016-11 107.5 99.7 102.7 101.2
2016-10 106.2 97.6 106.1 100.9
2016-09 108.5 98.5 105.7 100.2
2016-08 98.9 98.2 104.3 101.1
2016-07 104.1 97.7 105.6 101.4
2016-06 102.7 97.3 106.3 101.2
2016-05 103.0 97.7 106.4 103.5
2016-04 105.5 100.1 109.5 101.0
2016-03 101.1 99.1 106.4 100.9
2016-02 99.9 100.6 109.4 99.6
2016-01 101.3 100.6 108.5 99.2
2015-12 99.4 98.1 108.1 101.4
2015-11 101.9 99.6 108.2 99.2
2015-10 104.0 98.3 108.2 99.6
2015-09 105.3 96.3 109.5 102.3
2015-08 102.8 97.5 108.2 101.2
2015-07 108.2 98.3 105.2 102.5
2015-06 104.7 97.2 105.6 100.6
2015-05 101.7 97.2 105.3 101.3
2015-04 104.2 96.7 107.4 100.4
2015-03 100.3 94.2 105.7 99.9
2015-02 99.0 95.2 101.5 100.0
2015-01 102.9 93.6 102.1 99.5
2014-12 98.7 92.3 100.1 99.9
2014-11 95.7 92.3 100.5 99.5
2014-10 95.2 92.7 97.6 98.2
2014-09 94.1 92.3 101.2 97.0
2014-08 94.9 93.5 98.2 100.3
2014-07 96.6 89.6 99.6 98.9
2014-06 95.3 92.0 98.5 98.3
2014-05 97.7 93.9 98.7 99.2
2014-04 95.5 92.6 103.2 99.9
2014-03 99.5 92.9 101.1 102.1
2014-02 98.7 94.0 98.4 98.0
2014-01 99.0 91.5 102.8 98.4
2013-12 98.0 92.0 100.3 98.9
2013-11 97.8 92.9 102.4 98.4
2013-10 95.1 90.7 104.0 97.4
2013-09 94.5 90.3 98.0 96.9
2013-08 95.1 91.9 101.8 96.8
2013-07 91.9 89.9 99.1 94.7
2013-06 92.2 89.3 95.2 93.0
2013-05 91.0 89.8 95.2 91.6
2013-04 91.4 89.8 93.2 89.1
2013-03 93.6 89.1 94.2 91.1
2013-02 97.5 88.9 94.6 90.1
2013-01 97.1 87.9 92.7 91.1
2012-12 98.4 87.8 92.6 91.7
2012-11 97.8 87.4 93.1 92.1
2012-10 90.6 86.0 95.9 89.3
2012-09 96.3 91.0 97.4 93.5
2012-08 93.2 90.4 95.6 93.3
2012-07 94.1 90.8 95.4 92.1
2012-06 94.5 91.1 96.0 93.5
2012-05 93.0 94.7 95.3 95.6
2012-04 98.5 96.1 94.4 97.5
2012-03 101.9 96.6 103.3 96.9
2012-02 99.9 96.0 94.0 95.7
2012-01 99.2 96.0 95.2 93.9
2011-12 97.8 96.2 100.4 94.3
2011-11 101.6 95.8 102.5 94.0
2011-10 104.0 98.1 100.5 96.2
2011-09 101.4 99.4 99.2 97.9
2011-08 103.0 100.5 102.2 100.1
2011-07 110.9 102.6 104.2 104.6
2011-06 108.0 104.5 109.8 108.5
2011-05 109.3 103.5 105.6 107.3
2011-04 108.6 104.9 106.2 109.6
2011-03 106.3 106.7 106.6 109.3
2011-02 107.1 102.6 100.0 108.0
2011-01 108.7 104.4 105.5 104.8

Business climates in a sector-based approach

  • Legend: (C1): Manufacture of food products and beverages - (C3): Machinery and equipment goods - (C4): Manufacture of transport equipment - (C5): Other manufacturing
  • Source: INSEE

Business climates in a sector-based approach

Average = 100 and standard deviation = 10 since 1990
Business climates in a sector-based approach (Average = 100 and standard deviation = 10 since 1990)
NA* : (A17) et [A38 et A64] Weights** (%) Oct-22 Nov-22 Dec-22
(C1) Man. of food products and beverages 20 107 104 99
(C3) Machinery and equipment goods 11 113 110 112
[CI] Computer, electronic and optical products 3 119 108 114
[CJ] Electrical equipment 3 101 101 99
[CK] Machinery and equipment 5 114 114 117
(C4) Man. of transport equipment 18 105 102 100
[CL1] Motor vehicles, trailers and semi-trailers 9 105 99 96
[CL2] Other transport equipment 9 104 103 104
(C5) Other manufacturing 46 96 95 95
[CB] Textiles, clothing industries, leather and footwear industry 2 107 108 105
[CC] Wood, paper, printing 5 97 96 93
[CE] Chemicals and chemical products 8 88 86 84
[CG] Rubber and plastic products 7 95 94 99
[CH] Basic metals and fabricated metal products 11 100 94 94
[CM] Other manufacturing industries / Manufacture of other industrial products 9 103 107 105
  • * NA: aggregated classification, based on the French classification of activities NAF rév.2.
  • ** Weights used to aggregate sub-sector's balances of opinion.
  • Source: INSEE - Monthly business tendency survey in industry

Updates

The business climate in manufacturing industry of November 2022 has not been revised (after rounding).

For further information

For questions with three possible answers, a balance of opinion is the difference between the weighted percentage of “above normal” or “increase” answers and the weighted percentage of “below normal” or “decrease” answers.

Since the definitive data of May 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding companies.

Answers to this survey have been gathered between 28 November 2022 and 12 December 2022.

Additional information (methodology, links, etc.) is available on the “Documentation” tab.

Next issue: 24 January 2023 at 8:45 am.

Documentation

Changes to business tendency surveys related to European harmonisation – October 2021 (pdf,181 Ko)

Abbreviated methodology (pdf,157 Ko)

Monthly outlook survey in industry

Aggregated classification - NA, 2008

Pour en savoir plus

For questions with three possible answers, a balance of opinion is the difference between the weighted percentage of “above normal” or “increase” answers and the weighted percentage of “below normal” or “decrease” answers.

Since the definitive data of May 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding companies.

Answers to this survey have been gathered between 28 November 2022 and 12 December 2022.

Additional information (methodology, links, etc.) is available on the “Documentation” tab.

Next issue: 24 January 2023 at 8:45 am.

: bureau-de-presse@insee.fr

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Time series : Industry - Activity and demand

Ouvrir dans un nouvel ongletThe Joint Harmonised EU Programme of Business and Consumer Surveys (BCS)