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Informations Rapides · 21 April 2022 · n° 98
Informations rapidesIn April 2022, the business climate in manufacturing industry has slightly bounced back Monthly business survey (goods-producing industries) - April 2022

According to the business managers surveyed in April 2022, the business climate in manufacturing industry has slightly improved, after having deteriorated markedly in March. At 108, the composite indicator has won one point, notably in relation with the increase in the balances of opinion on order books, both overall and foreign.

Informations rapides
No 98
Paru le :Paru le21/04/2022
Prochaine parution le : 20/09/2024 at 08:45 - September 2024

According to the business managers surveyed in April 2022, the business climate in manufacturing industry has slightly improved, after having deteriorated markedly in March. At 108, the composite indicator has won one point, notably in relation with the increase in the balances of opinion on order books, both overall and foreign.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
2022-04 108.2
2022-03 107.4
2022-02 112.2
2022-01 112.8
2021-12 109.7
2021-11 109.4
2021-10 107.0
2021-09 106.4
2021-08 109.5
2021-07 109.1
2021-06 107.7
2021-05 107.0
2021-04 103.4
2021-03 98.5
2021-02 98.1
2021-01 96.4
2020-12 95.3
2020-11 91.8
2020-10 94.1
2020-09 94.1
2020-08 91.5
2020-07 81.7
2020-06 77.5
2020-05 70.3
2020-04 66.9
2020-03 97.4
2020-02 101.0
2020-01 102.6
2019-12 99.4
2019-11 101.9
2019-10 99.5
2019-09 101.5
2019-08 102.1
2019-07 101.2
2019-06 101.8
2019-05 103.7
2019-04 101.3
2019-03 103.3
2019-02 103.4
2019-01 103.5
2018-12 103.6
2018-11 105.1
2018-10 104.2
2018-09 107.1
2018-08 108.6
2018-07 108.3
2018-06 109.6
2018-05 109.7
2018-04 110.4
2018-03 110.5
2018-02 112.5
2018-01 113.7
2017-12 111.8
2017-11 111.4
2017-10 111.0
2017-09 110.9
2017-08 109.9
2017-07 108.0
2017-06 108.8
2017-05 108.7
2017-04 108.5
2017-03 105.5
2017-02 106.7
2017-01 106.0
2016-12 105.7
2016-11 102.1
2016-10 102.1
2016-09 103.4
2016-08 101.5
2016-07 101.6
2016-06 101.5
2016-05 104.3
2016-04 104.7
2016-03 102.5
2016-02 103.0
2016-01 102.8
2015-12 102.5
2015-11 102.3
2015-10 103.1
2015-09 104.7
2015-08 103.5
2015-07 101.5
2015-06 100.3
2015-05 101.7
2015-04 101.5
2015-03 99.0
2015-02 98.4
2015-01 98.8
2014-12 98.7
2014-11 98.8
2014-10 97.4
2014-09 96.9
2014-08 96.6
2014-07 96.3
2014-06 96.5
2014-05 98.3
2014-04 100.3
2014-03 100.8
2014-02 98.3
2014-01 99.6
2013-12 99.3
2013-11 98.1
2013-10 97.9
2013-09 95.9
2013-08 98.5
2013-07 94.7
2013-06 92.7
2013-05 92.1
2013-04 87.7
2013-03 90.6
2013-02 90.6
2013-01 89.8
2012-12 90.9
2012-11 91.7
2012-10 87.1
2012-09 92.7
2012-08 92.9
2012-07 91.1
2012-06 93.1
2012-05 94.8
2012-04 95.6
2012-03 96.5
2012-02 94.9
2012-01 94.9
2011-12 94.7
2011-11 97.5
2011-10 97.4
2011-09 99.2
2011-08 101.3
2011-07 104.8
2011-06 109.8
2011-05 107.2
2011-04 110.1
2011-03 110.1
2011-02 106.8
2011-01 108.7
2010-12 104.1
2010-11 101.7
2010-10 104.0
2010-09 102.8
2010-08 100.3
2010-07 97.2
2010-06 95.7
2010-05 96.5
2010-04 95.0
2010-03 91.1
2010-02 88.6
2010-01 90.1
2009-12 87.4
2009-11 87.5
2009-10 85.2
2009-09 83.9
2009-08 80.9
2009-07 76.4
2009-06 74.9
2009-05 72.3
2009-04 70.6
2009-03 66.6
2009-02 68.5
2009-01 72.6
2008-12 73.4
2008-11 79.8
2008-10 87.1
2008-09 91.6
2008-08 98.0
2008-07 98.7
2008-06 103.4
2008-05 104.1
2008-04 107.3
2008-03 109.9
2008-02 110.2
2008-01 110.5
2007-12 112.4
2007-11 112.2
2007-10 109.9
2007-09 110.5
2007-08 110.9
2007-07 111.4
2007-06 111.2
2007-05 110.0
2007-04 111.9
2007-03 111.2
2007-02 111.7
2007-01 108.2
2006-12 109.2
2006-11 109.6
2006-10 107.2
2006-09 108.0
2006-08 108.5
2006-07 108.9
2006-06 108.6
2006-05 108.8
2006-04 107.8
2006-03 106.3
2006-02 106.5
2006-01 103.1
2005-12 104.1
2005-11 101.0
2005-10 101.1
2005-09 98.9
2005-08 99.6
2005-07 100.1
2005-06 99.0
2005-05 97.0
2005-04 96.5
2005-03 99.7
2005-02 103.1
2005-01 103.2

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.* Jan. 22 Feb. 22 Mar. 22 Apr. 22
Manufacturing industry
Composite indicator 100 113 112 107 108
Past production 5 25 16 12 11
Finished-goods inventory 12 4 2 5 11
Overall order books -18 -1 1 -3 1
Foreign order books -14 2 -2 -1 3
Past workforce size -9 10 10 11 10
Expected workforce size -11 14 15 12 12
Personal production expectations 6 22 25 11 11
General production expectations -7 15 22 -3 -5
Expected trend in selling prices 3 33 45 54 44
Economic uncertainty felt** 26 19 23 32 37
  • * Long-term average since 1976 except for the economic uncertainty felt (April 2021).
  • ** Balance of opinion not CVS
  • Source: INSEE - Monthly business tendency survey in industry

The balances of opinion on order books have been on the rise

In April 2022, the balances of opinion on order books have been on the rise. The balance on the overall order books has bounced back and has met again its February 2022 level, well above its average. The balance on the foreign order books has also grown, notably driven by the manufacture of transport equipment sector.

The balance on the variation in the personal production prospects over the next three months has been stable. The one on the variation in past production has withdrawn a little. These two balances remain above their average. Finally, the balance on the general production prospects has decreased again and is thus getting closer to its long-term average.

The balances of opinion on the change in workforce have remained at high levels. The one on the expected change in workforce over the next three months is stable, while the one on the change in workforce over the last three months has barely decreased.

The balance of opinion on the current level of the finished-goods inventory has further recovered

The balance associated to the current level of the finished-goods inventory has improved markedly for the second month in a row: it is almost reaching its long-term average. Thus, on average, business leaders have estimated that their inventories were close to their usual level for this time of the year.

in April 2022 the balance on the expected trend in selling prices has withdrawn, after having reached a new high point since the beginning of this series (1990). It remains at a high level.

For the third month in a row, more business leaders have reported the situation of their enterprise to be difficult to predict. The balance of opinion on the perceived economic uncertainty has again increased and has reached its highest level since this series started a year ago.

Expected prices in manufacturing industry

Expected prices in manufacturing industry
Expected prices
2022-04 44.4
2022-03 53.7
2022-02 44.7
2022-01 32.8
2021-12 49.8
2021-11 47.5
2021-10 27.1
2021-09 27.8
2021-08 26.5
2021-07 24.8
2021-06 29.9
2021-05 25.6
2021-04 18.3
2021-03 17.0
2021-02 12.7
2021-01 1.8
2020-12 8.3
2020-11 6.0
2020-10 3.6
2020-09 -4.0
2020-08 -2.2
2020-07 -1.0
2020-06 -1.8
2020-05 -5.9
2020-04 -7.2
2020-03 1.4
2020-02 0.7
2020-01 2.5
2019-12 0.7
2019-11 -0.8
2019-10 0.4
2019-09 2.8
2019-08 2.2
2019-07 -1.2
2019-06 2.2
2019-05 9.6
2019-04 10.3
2019-03 3.8
2019-02 8.5
2019-01 7.7
2018-12 4.3
2018-11 11.3
2018-10 9.3
2018-09 7.6
2018-08 7.5
2018-07 4.9
2018-06 9.1
2018-05 11.9
2018-04 4.9
2018-03 10.6
2018-02 9.9
2018-01 8.6
2017-12 7.5
2017-11 10.8
2017-10 3.0
2017-09 9.5
2017-08 3.4
2017-07 4.7
2017-06 4.9
2017-05 6.4
2017-04 4.5
2017-03 0.9
2017-02 4.0
2017-01 3.2
2016-12 6.6
2016-11 2.7
2016-10 6.5
2016-09 -6.6
2016-08 -7.9
2016-07 -2.3
2016-06 -0.5
2016-05 -5.0
2016-04 -4.8
2016-03 -12.8
2016-02 -17.4
2016-01 -15.2
2015-12 -16.4
2015-11 -8.7
2015-10 -12.8
2015-09 -15.9
2015-08 -6.3
2015-07 -5.5
2015-06 -6.7
2015-05 -2.3
2015-04 -10.2
2015-03 -20.0
2015-02 -20.8
2015-01 -18.6
2014-12 -20.1
2014-11 -18.8
2014-10 -7.5
2014-09 -16.4
2014-08 -8.6
2014-07 -2.8
2014-06 -6.0
2014-05 -3.1
2014-04 -2.4
2014-03 -6.9
2014-02 -4.3
2014-01 2.5
2013-12 -8.3
2013-11 -6.8
2013-10 -3.3
2013-09 -3.2
2013-08 0.6
2013-07 1.1
2013-06 -4.2
2013-05 -4.3
2013-04 -3.9
2013-03 -4.2
2013-02 2.4
2013-01 4.5
2012-12 2.9
2012-11 0.9
2012-10 1.2
2012-09 2.3
2012-08 0.1
2012-07 -0.8
2012-06 1.0
2012-05 3.6
2012-04 8.4
2012-03 8.3
2012-02 5.4
2012-01 2.5
2011-12 5.8
2011-11 7.2
2011-10 2.5
2011-09 6.8
2011-08 7.6
2011-07 15.2
2011-06 23.8
2011-05 25.0
2011-04 19.0
2011-03 26.8
2011-02 20.5
2011-01 16.7
2010-12 14.2
2010-11 13.5
2010-10 10.1
2010-09 15.0
2010-08 10.4
2010-07 6.5
2010-06 5.9
2010-05 9.5
2010-04 5.7
2010-03 -5.6
2010-02 -0.9
2010-01 -1.0
2009-12 -9.1
2009-11 -7.6
2009-10 -5.0
2009-09 -8.4
2009-08 -11.7
2009-07 -9.0
2009-06 -10.4
2009-05 -12.4
2009-04 -4.5
2009-03 -14.7
2009-02 -5.8
2009-01 -6.2
2008-12 -1.8
2008-11 1.7
2008-10 8.5
2008-09 10.4
2008-08 22.1
2008-07 26.1
2008-06 21.3
2008-05 18.8
2008-04 20.5
2008-03 17.1
2008-02 19.9
2008-01 17.0
2007-12 19.9
2007-11 14.9
2007-10 13.1
2007-09 13.8
2007-08 12.9
2007-07 12.1
2007-06 12.2
2007-05 12.7
2007-04 7.8
2007-03 12.1
2007-02 5.3
2007-01 14.6

Expected prices in manufacturing industry

  • Source: INSEE

The business climates have mildly brightened in every main sub-sectors of the manufacturing industry except in the manufacture of food products

In the manufacture of food products and beverages, the business climate indicator has weakened but remains well above its average. There, the balance of opinion on past production as well as those on order books have deteriorated.

In the manufacture of machinery and equipment goods, the business climate indicator has slightly bounced back and remains well above its average. This rise results from the recovery of the balances on order-books in this sub-sector, while the balance on the variation in the personal production prospects has again distinctly folded back.

In the manufacture of transport equipment, the business climate has clearly brightened. In the manufacture of motor vehicles, the business climate indicator has increased by 5 points, which nevertheless does not erase its sharp decline of the previous month. In the other transport equipment, the climate has slightly improved, driven by the balances on order books.

Finally, the business climate has bounced back in the so-called "other industries" sector. The balances of opinion on order books, both overall and foreign, have participated in this rise.

Revisions

The business climate in manufacturing industry of March 2022 has been revised upwards by one point, due to the inclusion of late responses from some companies.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2022-04 108.0 112.6 103.8 108.7
2022-03 110.6 111.8 100.7 107.9
2022-02 110.4 115.3 106.1 111.3
2022-01 110.0 116.4 106.2 110.4
2021-12 116.9 116.2 91.0 112.1
2021-11 115.4 115.8 96.6 113.1
2021-10 111.7 115.7 91.7 110.2
2021-09 109.3 115.4 89.2 112.0
2021-08 111.3 119.9 93.7 112.3
2021-07 114.5 115.3 93.1 113.9
2021-06 118.7 115.2 90.9 110.4
2021-05 115.0 111.9 91.2 109.6
2021-04 104.2 113.6 89.8 107.1
2021-03 100.5 106.8 84.9 104.1
2021-02 94.0 106.1 91.2 101.4
2021-01 89.5 104.9 88.7 100.4
2020-12 89.7 96.5 88.3 101.9
2020-11 92.4 91.9 90.0 94.8
2020-10 93.5 94.8 91.9 94.7
2020-09 102.3 91.5 92.5 92.4
2020-08 96.0 91.8 91.7 87.6
2020-07 89.2 85.2 80.6 81.3
2020-06 92.6 79.0 77.5 78.9
2020-05 90.2 76.1 75.8 74.1
2020-04 91.6 76.9 73.5 73.5
2020-03 106.8 98.2 96.1 97.2
2020-02 107.4 99.6 100.7 100.1
2020-01 107.3 100.9 106.2 99.3
2019-12 107.4 97.4 99.8 97.9
2019-11 103.7 97.9 105.7 100.8
2019-10 105.2 96.5 100.9 98.8
2019-09 107.6 99.5 101.5 101.1
2019-08 108.2 99.8 101.5 101.3
2019-07 104.3 102.8 99.6 100.1
2019-06 108.5 98.9 101.0 100.4
2019-05 111.6 104.2 102.9 101.9
2019-04 106.2 101.3 101.4 100.7
2019-03 106.0 100.8 103.1 101.3
2019-02 108.0 104.8 101.2 101.0
2019-01 107.4 103.3 103.1 101.9
2018-12 107.2 102.2 102.9 102.3
2018-11 109.2 101.9 104.3 102.6
2018-10 102.1 106.7 104.0 102.6
2018-09 106.9 107.2 105.5 104.5
2018-08 107.6 107.9 106.8 105.4
2018-07 107.4 108.0 106.5 106.1
2018-06 110.1 107.8 110.3 105.3
2018-05 107.7 111.2 108.5 107.3
2018-04 108.9 109.9 112.9 107.3
2018-03 108.5 109.9 111.7 109.1
2018-02 109.9 110.7 112.6 109.6
2018-01 110.9 112.4 112.6 110.6
2017-12 110.5 111.1 110.7 110.3
2017-11 112.1 109.6 109.5 110.7
2017-10 110.7 109.4 108.9 110.0
2017-09 107.1 107.3 109.8 108.2
2017-08 108.5 106.8 108.8 107.9
2017-07 108.5 108.9 108.7 106.4
2017-06 111.4 108.3 105.6 108.0
2017-05 105.7 108.9 105.9 106.8
2017-04 103.5 107.1 106.4 107.5
2017-03 103.8 104.8 105.9 104.5
2017-02 105.3 104.0 106.8 105.9
2017-01 103.6 102.6 107.2 105.1
2016-12 108.2 103.7 105.0 104.5
2016-11 107.6 100.0 102.7 101.2
2016-10 106.3 97.8 106.1 100.9
2016-09 108.6 98.7 105.6 100.2
2016-08 99.0 98.5 104.3 101.1
2016-07 104.2 98.0 105.5 101.4
2016-06 102.8 97.5 106.3 101.2
2016-05 103.1 97.9 106.4 103.5
2016-04 105.6 100.4 109.5 101.0
2016-03 101.1 99.3 106.3 100.9
2016-02 99.9 100.8 109.3 99.6
2016-01 101.5 100.8 108.4 99.2
2015-12 99.5 98.4 108.1 101.4
2015-11 102.0 99.9 108.1 99.2
2015-10 104.1 98.5 108.1 99.6
2015-09 105.3 96.5 109.4 102.2
2015-08 102.9 97.7 108.2 101.2
2015-07 108.3 98.6 105.2 102.5
2015-06 104.8 97.4 105.6 100.6
2015-05 101.8 97.4 105.3 101.3
2015-04 104.3 96.9 107.4 100.3
2015-03 100.4 94.4 105.7 99.9
2015-02 99.2 95.5 101.6 99.9
2015-01 103.0 93.8 102.1 99.5
2014-12 98.8 92.5 100.1 99.9
2014-11 95.8 92.5 100.5 99.5
2014-10 95.3 92.9 97.7 98.2
2014-09 94.2 92.5 101.2 97.0
2014-08 95.1 93.7 98.3 100.3
2014-07 96.7 89.8 99.7 98.9
2014-06 95.4 92.2 98.6 98.3
2014-05 97.8 94.1 98.8 99.2
2014-04 95.6 92.8 103.2 99.9
2014-03 99.6 93.1 101.2 102.1
2014-02 98.9 94.2 98.5 98.0
2014-01 99.2 91.7 102.9 98.4
2013-12 98.2 92.2 100.4 98.9
2013-11 97.9 93.1 102.4 98.4
2013-10 95.2 90.9 104.0 97.4
2013-09 94.6 90.5 98.0 96.9
2013-08 95.2 92.1 101.8 96.8
2013-07 92.1 90.1 99.2 94.7
2013-06 92.4 89.5 95.3 93.1
2013-05 91.2 90.0 95.3 91.7
2013-04 91.6 90.0 93.3 89.1
2013-03 93.8 89.3 94.3 91.2
2013-02 97.7 89.1 94.7 90.2
2013-01 97.3 88.1 92.8 91.2
2012-12 98.5 88.0 92.7 91.8
2012-11 97.9 87.6 93.2 92.1
2012-10 90.8 86.3 96.0 89.3
2012-09 96.4 91.2 97.4 93.5
2012-08 93.4 90.6 95.6 93.4
2012-07 94.3 91.0 95.5 92.2
2012-06 94.7 91.3 96.1 93.5
2012-05 93.1 94.9 95.3 95.7
2012-04 98.7 96.3 94.4 97.5
2012-03 102.0 96.8 103.3 96.9
2012-02 100.0 96.2 94.1 95.7
2012-01 99.4 96.2 95.3 93.9
2011-12 98.0 96.4 100.4 94.4
2011-11 101.7 96.1 102.5 94.0
2011-10 104.1 98.3 100.6 96.2
2011-09 101.5 99.6 99.2 97.9
2011-08 103.1 100.8 102.2 100.1
2011-07 110.9 102.9 104.3 104.5
2011-06 108.1 104.8 109.8 108.4
2011-05 109.4 103.7 105.6 107.2
2011-04 108.7 105.1 106.2 109.5
2011-03 106.3 107.0 106.6 109.2
2011-02 107.1 102.8 100.1 107.9
2011-01 108.8 104.6 105.5 104.8

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** (%) Feb. 22 Mar. 22 Apr. 22
(C1) Man. of food products and beverages 20 110 111 108
(C3) Machinery and equipment goods 11 115 112 113
[CI] Computer, electronic and optical products 3 113 114 116
[CJ] Electrical equipment 3 108 102 102
[CK] Machinery and equipment 5 118 115 117
(C4) Man. of transport equipment 18 106 101 104
[CL1] Motor vehicles, trailers and semi-trailers 9 109 95 100
[CL2] Other transport equipment 9 101 103 104
(C5) Other manufacturing 46 111 108 109
[CB] Textiles, clothing industries, leather and footwear industry 2 108 109 106
[CC] Wood, paper, printing 5 114 111 114
[CE] Chemicals and chemical products 8 114 106 107
[CG] Rubber and plastic products 7 109 106 109
[CH] Basic metals and fabricated metal products 11 105 108 107
[CM] Other manufacturing industries / Manufacture of other industrial products 9 116 108 108
  • * 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

For questions with three possible answers, a balance of opinion is the difference between the weighted percentage of « above normal » or « increase » answers and the weighted percentage of « below normal » or « decrease » answers.

Since the definitive data of April 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding companies.

Answers to this survey have been gathered between 28 March 2022 and 15 April 2022.

Additional information (methodology, links, etc.) is available on the “Documentation” tab.

Next issue: 24 May 2022 at 8:45 am.

Pour en savoir plus

For questions with three possible answers, a balance of opinion is the difference between the weighted percentage of « above normal » or « increase » answers and the weighted percentage of « below normal » or « decrease » answers.

Since the definitive data of April 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding companies.

Answers to this survey have been gathered between 28 March 2022 and 15 April 2022.

Additional information (methodology, links, etc.) is available on the “Documentation” tab.

Next issue: 24 May 2022 at 8:45 am.

: bureau-de-presse@insee.fr
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