26 January 2012

2012- n° 29
In Q4 2012, Demand adressed to business leaders weakens again Quarterly business survey (goods-producing industries) - January 2012

In Q4 2011, global and export demand adressed to business leaders decreased: the corresponding balances fell and are well below their long-term average. The global and export demand outlook for Q1 2012 is still negative: the corresponding balances are below its long-term average.

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Manufacturing industry

Production capacity was less intensely used in Q4 2011: the proportion of businesses encountering production bottlenecks decreases but is still above its long-term average.

According to the business leaders, the industrial manpower slowed down anew in Q4 2011 : the corresponding balance decreased but remains above its long-term average. The industrial manpower could slow down again in Q1 2012.

tableautableau – Business leaders' opinion : Demand and production factors

Balance of opinion, s.a, in %

Business leaders' opinion : Demand and production factors (Balance of opinion, s.a, in %)
Manufacturing industry	MOY*	Apr. 11	Jul. 11	Oct. 11	Jan. 12
Total demand
Recent changes	1	28	16	1	–12
Expected change	1	8	7	–6	–8
Export demand
Recent changes	3	44	16	–1	–11
Expected change	5	17	14	–4	2
Production factors
Share of firms producing at full capacity (in%)	22	25	25	33	26
Opinion on production capacity	14	5	5	9	18
Productive capacity utilization rate (in %)	85	83	83	83	82
Difficulties of supply and demand
Difficulties of supply and demand	7	9	8	11	10
Difficulties of supply	20	21	29	26	15
Difficulties of demand	42	30	30	32	41

* : Long period average.
Source : Quarterly business survey - INSEE