21 January 2011

2011- n° 17
In January 2011, the economic climate improves significantly in manufacturing industry Monthly business survey (goods-producing industries) - January 2011

According to the business leaders questioned in January 2011, the situation in industry has improved significantly: the synthetic indicator of business climate is recovering strongly. It is now eight points above its long-term average.

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Manufacturing industry

Business leaders consider that their past activity increased substantially to a level well above its long-term average. Stocks of finished products are still regarded as below to the normal. Order books, total and export, improve significantly and are now considered superior to their average levels.

The activity of next months would remain dynamic: the personal perspectives of production recovers, faced with a demand, total and foreign, in improvement. The general production outlook, which represents business leaders’ opinion on French industry as a whole, also remains positive.

tableautableau – Leaders' opinion: manufacturing industrial activity

Balance of opinion, s.a, in %

Leaders' opinion: manufacturing industrial activity (Balance of opinion, s.a, in %)
Manufacturing industry	Average*	Oct. 10	Nov. 10	Dec. 10	Jan. 11
Synthetic index	100	102	100	102	108
Recent changes in output	5	13	8	9	23
Finished-goods inventory level	13	–2	1	0	–3
Demand and total order levels	–17	–24	–25	–17	–7
Demand and export order levels	–12	–17	–15	–16	–10
Personal production expectations	5	16	6	13	16
General production expectations	–8	8	8	10	10

* : The average of the balances opinion since 1976.
Source : Monthly business survey - INSEE