23 September 2011

2011- n° 225
In September 2011, the business climate indicator decreases markedly in manufacturing industry Monthly business survey (goods-producing industries) - September 2011

According to the business leaders questioned in September 2011, the situation in industry continues to deteriorate: the synthetic indicator weakens by six points and is just below its long-term average.

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Manufacturing industry

The turning point indicator, decreasing, goes down to the unfavorable area .

Business leaders consider that their past activity has slowed down anew in manufacturing industry, but the balance of opinion stays just above its long-term average however. Stocks of finished products rise and are rated near to their normal level. Total and export order books continue to decrease and are rated near to their normal level.

The personal perspectives of production stay near to their long-term average. The general production outlook, which represents business leaders’ opinion on French industry as a whole, weakens very strongly.

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*	May 11	Jun. 11	Jul. 11	Sept. 11
Synthetic index	100	106	110	105	99
Recent changes in output	5	19	28	15	6
Finished-goods inventory level	13	–1	–0	1	11
Demand and total order levels	–17	–9	–3	–10	–17
Demand and export order levels	–12	–3	2	–5	–11
Personal production expectations	5	9	16	6	4
General production expectations	–8	15	13	3	–29

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