24 March 2011

2011- n° 70
In March 2011, the economic climate improves anew in manufacturing industry Monthly business survey (goods-producing industries) - March 2011

According to the business leaders questioned in March 2011, the situation in industry improved noticeably: the business climate indicator increases by three points and places on the highest level since end 2007.

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Manufacturing industry

The turning point indicator stabilizes in the favorable area.

Business leaders consider that their past activity has remained dynamic: the balance of opinion remains distinctly above its long-term average. Stocks of finished products are still regarded as below to the normal. Total and export order books increase and are still considered as superior to their average levels.

The activity of next months would remain dynamic: the personal perspectives of production, which increase again, remains on a rather high level. The general production outlook, which represents business leaders’ opinion on French industry as a whole, improves anew.

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*	Dec. 10	Jan. 11	Feb. 11	Mar. 11
Synthetic index	100	102	108	106	109
Recent changes in output	5	9	20	21	20
Finished-goods inventory level	13	0	–4	–2	–2
Demand and total order levels	–17	–17	–7	–17	–5
Demand and export order levels	–12	–16	–10	–11	–5
Personal production expectations	5	13	19	17	25
General production expectations	–8	10	11	19	21

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