Informations rapides
27 August 2020
2020- n° 211
In August 2020, the business climate in the manufacturing industry has continued to improve Monthly business survey (goods-producing industries) - August 2020

According to the business managers surveyed in August 2020, the business climate in industry has continued to improve. The composite indicator has gained 11 points compared to July. It had lost 30 points in April due to the health crisis. However, at 93, it remains below its long term average (100). The balance of opinion related to the past three months change in production has surged while the general lockdown period has moved further back. The balances related to order books levels have also recovered, but remain far below their average.

Informations rapides
No 211
Paru le :Paru le27/08/2020
Prochaine parution le : 24/10/2024 at 08:45 - October 2024
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Warning

Since April 2020 definitive data, the correction mode of non-response has been modified. Whereas the previous method was to carry on past answers from non-responding companies, we have since been considering that non-responding units would have responded as their elementary stratum’s units average.

According to the business managers surveyed in August 2020, the business climate in industry has continued to improve. The composite indicator has gained 11 points compared to July. It had lost 30 points in April due to the health crisis. However, at 93, it remains below its long term average (100). The balance of opinion related to the past three months change in production has surged while the general lockdown period has moved further back. The balances related to order books levels have also recovered, but remain far below their average.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
1998-01 112.6
1998-02 113.2
1998-03 117.0
1998-04 115.1
1998-05 114.8
1998-06 115.1
1998-07 113.9
1998-08 112.9
1998-09 112.0
1998-10 106.9
1998-11 104.1
1998-12 102.4
1999-01 101.8
1999-02 102.1
1999-03 97.1
1999-04 98.5
1999-05 100.8
1999-06 99.7
1999-07 106.0
1999-08 109.1
1999-09 111.9
1999-10 113.3
1999-11 116.5
1999-12 114.4
2000-01 115.6
2000-02 117.6
2000-03 119.8
2000-04 119.8
2000-05 121.2
2000-06 124.1
2000-07 121.2
2000-08 121.4
2000-09 121.1
2000-10 119.8
2000-11 118.0
2000-12 114.2
2001-01 112.9
2001-02 113.0
2001-03 111.6
2001-04 107.4
2001-05 105.8
2001-06 104.3
2001-07 101.7
2001-08 98.8
2001-09 95.6
2001-10 95.2
2001-11 91.2
2001-12 92.6
2002-01 93.7
2002-02 95.4
2002-03 97.2
2002-04 98.7
2002-05 102.3
2002-06 100.6
2002-07 97.6
2002-08 98.2
2002-09 99.1
2002-10 95.9
2002-11 96.6
2002-12 101.0
2003-01 97.9
2003-02 97.5
2003-03 93.1
2003-04 92.1
2003-05 91.9
2003-06 90.2
2003-07 92.9
2003-08 92.7
2003-09 92.9
2003-10 95.8
2003-11 100.1
2003-12 100.7
2004-01 100.4
2004-02 100.5
2004-03 103.7
2004-04 103.4
2004-05 104.7
2004-06 105.4
2004-07 105.1
2004-08 105.3
2004-09 105.3
2004-10 105.1
2004-11 103.2
2004-12 103.4
2005-01 103.3
2005-02 103.2
2005-03 99.8
2005-04 96.7
2005-05 97.2
2005-06 99.1
2005-07 100.2
2005-08 99.7
2005-09 99.1
2005-10 101.2
2005-11 101.1
2005-12 104.1
2006-01 103.1
2006-02 106.6
2006-03 106.4
2006-04 107.9
2006-05 108.9
2006-06 108.7
2006-07 109.0
2006-08 108.5
2006-09 108.1
2006-10 107.3
2006-11 109.7
2006-12 109.2
2007-01 108.3
2007-02 111.7
2007-03 111.3
2007-04 112.0
2007-05 110.1
2007-06 111.2
2007-07 111.5
2007-08 111.0
2007-09 110.6
2007-10 110.0
2007-11 112.2
2007-12 112.5
2008-01 110.5
2008-02 110.3
2008-03 110.0
2008-04 107.5
2008-05 104.2
2008-06 103.6
2008-07 98.9
2008-08 98.2
2008-09 91.8
2008-10 87.3
2008-11 80.1
2008-12 73.7
2009-01 72.9
2009-02 68.9
2009-03 67.0
2009-04 71.0
2009-05 72.7
2009-06 75.2
2009-07 76.7
2009-08 81.2
2009-09 84.2
2009-10 85.4
2009-11 87.7
2009-12 87.7
2010-01 90.3
2010-02 88.9
2010-03 91.3
2010-04 95.2
2010-05 96.7
2010-06 95.8
2010-07 97.4
2010-08 100.5
2010-09 103.0
2010-10 104.1
2010-11 101.9
2010-12 104.3
2011-01 108.7
2011-02 106.9
2011-03 110.2
2011-04 110.1
2011-05 107.2
2011-06 109.9
2011-07 104.9
2011-08 101.4
2011-09 99.3
2011-10 97.6
2011-11 97.7
2011-12 94.9
2012-01 95.1
2012-02 95.1
2012-03 96.6
2012-04 95.8
2012-05 95.0
2012-06 93.3
2012-07 91.3
2012-08 93.1
2012-09 92.9
2012-10 87.4
2012-11 91.9
2012-12 91.1
2013-01 90.1
2013-02 90.8
2013-03 90.8
2013-04 88.0
2013-05 92.3
2013-06 92.9
2013-07 94.9
2013-08 98.7
2013-09 96.1
2013-10 98.0
2013-11 98.2
2013-12 99.4
2014-01 99.7
2014-02 98.5
2014-03 100.9
2014-04 100.4
2014-05 98.5
2014-06 96.7
2014-07 96.5
2014-08 96.8
2014-09 97.0
2014-10 97.6
2014-11 99.0
2014-12 98.8
2015-01 98.9
2015-02 98.6
2015-03 99.1
2015-04 101.7
2015-05 101.9
2015-06 100.4
2015-07 101.7
2015-08 103.8
2015-09 104.8
2015-10 103.3
2015-11 102.4
2015-12 102.6
2016-01 102.8
2016-02 103.1
2016-03 102.6
2016-04 104.8
2016-05 104.5
2016-06 101.6
2016-07 101.8
2016-08 101.8
2016-09 103.5
2016-10 102.2
2016-11 102.2
2016-12 105.6
2017-01 105.9
2017-02 106.8
2017-03 105.7
2017-04 108.7
2017-05 108.9
2017-06 108.9
2017-07 108.2
2017-08 110.3
2017-09 110.8
2017-10 111.0
2017-11 111.4
2017-12 111.5
2018-01 113.4
2018-02 112.5
2018-03 110.7
2018-04 110.8
2018-05 110.0
2018-06 109.6
2018-07 108.6
2018-08 109.1
2018-09 107.2
2018-10 104.2
2018-11 105.0
2018-12 103.0
2019-01 103.2
2019-02 103.4
2019-03 103.7
2019-04 101.8
2019-05 104.1
2019-06 101.9
2019-07 101.6
2019-08 102.8
2019-09 101.9
2019-10 99.6
2019-11 101.8
2019-12 98.7
2020-01 102.1
2020-02 100.8
2020-03 97.9
2020-04 67.7
2020-05 70.8
2020-06 77.5
2020-07 82.4
2020-08 92.9

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)
Ave.* May 20 June 20 July 20 Aug. 20
Manufacturing industry
Composite indicator 100 71 78 82 93
Past activity 4 -65 -57 -41 -2
Finished-goods inventory 12 13 15 14 4
Overall order books -18 -56 -55 -51 -38
Export order books -14 -59 -65 -62 -52
Past workforce size -10 -24 -29 -26 -22
Expected workforce size -11 -26 -20 -15 -14
Personal production expectations 5 -12 20 24 22
General production expectations -8 -49 -15 -4 -3
  • * Long-term average since 1976.
  • Source: INSEE - Monthly business tendency survey in industry

Industrialists’ opinion on their order books has picked up

In August 2020, fewer industrialists than in July have declared their order books to be below normal. The balances of opinion on total and foreign order books have recovered. The rebound regarding foreign order books is less sharp than the one about total order books, and both balances remain far below their average.

The balance of opinion on change in production over the past three months has improved again, by much more than in July. The difference with its early 2020 values has shrunk, reflecting that production has gradually recovered since its abrupt stop in mid-March.

The industrialists’ balance of opinion on thechange over the next three months in production prospects, both personal and general for the sector, have remained roughly stable above their average.

Much more enterprises than in July have deemed their inventories to be be below normal. The corresponding balance has fallen sharply and now stand below its average, that it had exceeded since May.

Considering employment, the balances of opinion on past as well as expected variation in workforce size have continued to gradually recover. Both balances remain below their long-term average.

The climate indicators have rebounded in almost all sub-sectors

The business climate indicators have picked up in almost all sub-sectors. In the agrofood industry, the indicator has recovered in August, driven by the balance on order books. In the other sub-sectors, except in the manufacture of chemicals, the climates have continued to climb gradually, driven by the rise in the balances on past production and order books. Results should however be considered cautiously this month for the transport equipment sector, where the response rate as a share of turnover is lower than usual.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2011-01 109.4 105.2 105.2 105.2
2011-02 107.6 103.3 99.7 108.3
2011-03 106.7 107.6 106.2 109.6
2011-04 108.9 105.6 105.8 109.9
2011-05 109.5 104.2 105.2 107.6
2011-06 108.6 105.3 109.4 108.8
2011-07 111.1 103.4 103.9 104.9
2011-08 103.5 101.3 101.8 100.4
2011-09 101.8 100.3 98.9 98.2
2011-10 104.3 98.9 100.3 96.5
2011-11 102.2 96.6 102.2 94.3
2011-12 98.1 96.9 100.1 94.7
2012-01 99.7 96.7 95.0 94.3
2012-02 100.3 96.7 93.8 96.0
2012-03 102.1 97.2 102.9 97.3
2012-04 99.1 96.7 94.1 98.0
2012-05 93.5 95.4 95.0 96.0
2012-06 94.8 91.6 95.7 93.9
2012-07 94.7 91.4 95.2 92.5
2012-08 93.7 90.9 95.3 93.7
2012-09 96.6 91.7 97.2 93.8
2012-10 91.1 86.6 95.7 89.6
2012-11 98.3 87.9 92.9 92.5
2012-12 98.8 88.3 92.5 92.1
2013-01 97.7 88.4 92.6 91.5
2013-02 98.0 89.4 94.4 90.5
2013-03 94.0 89.6 93.9 91.5
2013-04 91.8 90.4 93.0 89.6
2013-05 91.6 90.3 95.0 92.1
2013-06 92.6 89.8 94.9 93.5
2013-07 92.2 90.4 98.9 95.1
2013-08 95.4 92.5 101.5 97.3
2013-09 94.9 90.8 97.7 97.3
2013-10 95.5 91.1 103.7 97.9
2013-11 98.2 93.4 102.0 98.8
2013-12 98.6 92.6 100.0 99.2
2014-01 99.6 92.1 102.5 98.7
2014-02 99.2 94.6 98.1 98.4
2014-03 99.8 93.5 100.7 102.4
2014-04 95.8 93.2 102.8 100.2
2014-05 98.0 94.5 98.4 99.5
2014-06 96.0 92.6 98.2 98.7
2014-07 97.1 90.1 99.3 99.1
2014-08 95.3 94.1 97.9 100.7
2014-09 94.3 92.9 100.9 97.3
2014-10 95.7 93.3 97.4 98.6
2014-11 96.3 92.9 100.2 99.8
2014-12 99.1 92.9 99.8 100.2
2015-01 103.2 94.2 101.8 99.7
2015-02 99.5 95.8 101.2 100.3
2015-03 100.8 94.9 105.2 100.1
2015-04 104.5 97.4 107.0 100.7
2015-05 102.3 97.9 105.0 101.6
2015-06 105.2 97.9 105.1 101.0
2015-07 108.8 99.1 104.9 102.9
2015-08 103.4 98.2 107.8 101.6
2015-09 105.4 96.9 109.0 102.6
2015-10 104.3 98.9 107.8 99.9
2015-11 102.2 100.4 107.7 99.5
2015-12 99.8 98.8 107.7 101.7
2016-01 101.7 101.4 108.0 99.4
2016-02 100.2 101.4 108.9 100.0
2016-03 101.7 100.0 105.9 101.1
2016-04 105.6 100.9 109.1 101.3
2016-05 103.5 98.3 106.0 103.9
2016-06 103.2 98.0 105.9 101.6
2016-07 104.6 98.5 105.2 101.8
2016-08 99.4 98.9 103.9 101.6
2016-09 108.6 99.2 105.1 100.6
2016-10 106.6 98.2 105.7 101.2
2016-11 107.7 100.4 102.4 101.4
2016-12 108.3 104.2 104.5 104.6
2017-01 104.1 103.2 106.7 105.2
2017-02 105.6 104.6 106.4 106.3
2017-03 104.7 105.5 105.5 104.8
2017-04 103.8 107.9 106.1 107.9
2017-05 106.2 109.5 105.5 107.3
2017-06 111.9 109.0 105.2 108.5
2017-07 108.8 109.6 108.3 106.9
2017-08 109.1 107.3 108.5 108.5
2017-09 106.8 107.9 109.3 108.5
2017-10 111.2 110.1 108.5 110.1
2017-11 112.2 110.2 109.2 110.9
2017-12 110.7 111.7 110.2 110.3
2018-01 111.3 113.2 112.0 110.7
2018-02 110.3 111.3 112.1 110.0
2018-03 109.6 110.7 111.4 109.3
2018-04 109.7 110.8 112.6 107.8
2018-05 108.2 111.7 108.2 107.9
2018-06 110.0 108.5 109.8 105.8
2018-07 108.0 108.8 106.0 106.7
2018-08 108.2 108.6 106.6 106.0
2018-09 106.8 107.8 105.1 104.9
2018-10 102.4 107.4 103.7 102.6
2018-11 108.7 102.4 104.1 102.7
2018-12 107.3 102.7 102.2 102.1
2019-01 107.6 104.0 102.4 101.9
2019-02 108.7 105.2 100.7 101.4
2019-03 107.6 101.4 102.8 101.6
2019-04 107.2 102.0 101.3 101.1
2019-05 111.9 104.5 102.5 102.5
2019-06 108.1 99.4 100.7 101.0
2019-07 104.4 103.6 99.2 100.8
2019-08 108.8 100.3 101.5 102.1
2019-09 108.0 100.1 101.2 101.7
2019-10 105.6 97.0 100.6 98.8
2019-11 102.8 98.3 105.5 100.7
2019-12 107.5 97.7 99.1 97.7
2020-01 107.3 101.5 105.4 99.2
2020-02 108.1 99.9 100.0 100.5
2020-03 109.0 98.7 96.0 97.5
2020-04 92.7 77.3 73.6 73.9
2020-05 90.3 75.8 75.6 74.7
2020-06 90.6 79.2 77.3 79.5
2020-07 89.9 85.8 80.4 82.3
2020-08 97.6 91.8 93.2 88.6

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** (%) June 20 July 20 Aug. 20
(C1) Man. of food products and beverages 21 91 90 98
(C3) Machinery and equipment goods 11 79 86 92
[CI] Computer, electronic and optical products 3 82 86 89
[CJ] Electrical equipment 3 84 90 94
[CK] Machinery and equipment 5 81 89 91
(C4) Man. of transport equipment 18 77 80 93
[CL1] Motor vehicles, trailers and semi-trailers 9 86 89 109
[CL2] Other transport equipment 10 78 78 81
(C5) Other manufacturing 46 79 82 89
[CB] Textiles, clothing industries, leather and footwear industry 2 80 73 81
[CC] Wood, paper, printing 5 82 90 94
[CE] Chemicals and chemical products 8 75 79 76
[CG] Rubber and plastic products 7 86 92 99
[CH] Basic metals and fabricated metal products 11 83 83 92
[CM] Other manufacturing industries 9 79 84 96
  • * 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

For further information

A balance of opinion is calculated as the difference between the percentage of « increase » responses and the percentage of « decrease » responses.

Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the « Documentation » tab of this page.

Next issue: 24 September 2020 at 8:45

Documentation

Methodology (pdf,133 Ko)

Monthly outlook survey in industry

Aggregated classification - NA, 2008

Pour en savoir plus

A balance of opinion is calculated as the difference between the percentage of « increase » responses and the percentage of « decrease » responses.

Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the « Documentation » tab of this page.

Next issue: 24 September 2020 at 8:45

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