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Informations Rapides · 24 May 2022 · n° 130
Informations rapidesIn May 2022, the business climate has deteriorated in manufacturing industry Monthly business survey (goods-producing industries) - May 2022

According to the business managers surveyed in May 2022, the business climate in manufacturing industry has deteriorated. At 106, the composite indicator has lost two points, affected by the fall in the balances of opinion on the personal prospects of production and on the foreign order books. The balance of opinion on the expected trend in selling prices has risen again and has reached a new record.

Informations rapides
No 130
Paru le :Paru le24/05/2022
Prochaine parution le : 25/04/2024 at 08:45 - April 2024

According to the business managers surveyed in May 2022, the business climate in manufacturing industry has deteriorated. At 106, the composite indicator has lost two points, affected by the fall in the balances of opinion on the personal prospects of production and on the foreign order books. The balance of opinion on the expected trend in selling prices has risen again and has reached a new record.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
2022-05 106.2
2022-04 107.6
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 95.2
2020-11 91.8
2020-10 94.1
2020-09 94.1
2020-08 91.5
2020-07 81.7
2020-06 77.4
2020-05 70.3
2020-04 66.8
2020-03 97.4
2020-02 101.0
2020-01 102.6
2019-12 99.3
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
2015-06 100.2
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 99.2
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 90.5
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 99.1
2011-08 101.2
2011-07 104.8
2011-06 109.8
2011-05 107.2
2011-04 110.0
2011-03 110.1
2011-02 106.8
2011-01 108.6
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 96.4
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 85.1
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 73.3
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
2008-01 110.4
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
2006-10 107.1
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
2005-12 104.0
2005-11 101.0
2005-10 101.0
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 99.6
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.* Feb. 22 Mar. 22 Apr. 22 May. 22
Manufacturing industry
Composite indicator 100 112 107 108 106
Past production 5 16 12 12 12
Finished-goods inventory 12 2 5 11 7
Overall order books -18 1 -3 -1 -2
Foreign order books -14 -2 -1 2 -4
Past workforce size -9 10 11 11 9
Expected workforce size -10 15 12 12 11
Personal production expectations 6 25 11 10 6
General production expectations -7 22 -3 -4 -9
Expected trend in selling prices 3 45 54 45 55
Economic uncertainty felt** 27 23 32 36 35
  • * 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 the production prospects over the next three months have degraded

In May 2022, the balance of opinion on the personal prospects of evolution in the production over the next three months has degraded again and has fallen back to its average. The general production prospects have also deteriorated; the balance associated with them has fallen back below its average. Yet, the balance on the perceived economic uncertainty has slightly shrunk while remaining at a high level. As for the balance on the variation of production during the last three months, it has been stable since March, above its average.

The balance on the expected trend in selling prices has bounced back and has reached a new high point since the beginning of this series (1990).

The balances of opinion on the change in workforce, past as well as expected, have diminished a little but remain at high levels. The one on the expected change has been decreasing since March 2022.

Expected prices in manufacturing industry

Expected prices in manufacturing industry
Expected prices
2022-05 55.1
2022-04 45.1
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 balance of opinion on the foreign order books has withdrawn

The balances of opinion on the level of order books have decreased this month. The one on the overall order books has barely diminished and remains well above its average. The balance on the foreign order books has withdrawn more markedly, nevertheless remaining as well above its own.

The balance associated to the current level of the finished-goods inventory has fallen back, whereas it had come closer to its average last month.

The business climates have darkened in most manufacturing sub-sectors

The business climate indicator in the manufacture of food products and beverages has continued its decline started in April. It has been notably pulled down by the balance of opinion on the overall order books. Conversely, business leaders have reported that their foreign order books are more filled than last month.

In the manufacture of machinery and equipment goods, the business climate indicator has diminished but remains well above its average. In the electrical equipment sub-sector, the business climate indicator has deteriorated quite markedly and has reached its average.

In the manufacture of transport equipment, the business climate indicator has been almost stable. The balance of opinion on expected production has stabilized above its average, while the balances on order books have dropped somewhat. The business climate in the manufacture of motor vehicles has remained below its long-term average.

Finally, the business climate has deteriorated markedly in the so-called "other industries" sector, particularly in wood, paper, printing, rubber, plastic products and chemicals.

Revisions

The business climate in manufacturing industry of April 2022 has not been revised.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2022-05 105.6 110.3 102.5 104.0
2022-04 107.8 112.8 101.9 108.6
2022-03 110.6 111.8 100.7 107.9
2022-02 110.4 115.2 106.1 111.3
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
2021-09 109.3 115.3 89.2 112.0
2021-08 111.3 119.9 93.7 112.3
2021-07 114.5 115.3 93.1 113.9
2021-06 118.7 115.1 90.9 110.4
2021-05 115.0 111.8 91.2 109.6
2021-04 104.2 113.5 89.7 107.1
2021-03 100.4 106.8 84.9 104.0
2021-02 94.0 106.1 91.2 101.3
2021-01 89.5 104.8 88.7 100.4
2020-12 89.6 96.4 88.3 101.8
2020-11 92.4 91.9 89.9 94.7
2020-10 93.5 94.8 91.9 94.6
2020-09 102.3 91.4 92.5 92.4
2020-08 96.0 91.8 91.7 87.5
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 91.5 76.9 73.4 73.5
2020-03 106.8 98.2 96.1 97.2
2020-02 107.4 99.5 100.7 100.1
2020-01 107.3 100.9 106.2 99.3
2019-12 107.4 97.4 99.8 97.9
2019-11 103.6 97.8 105.7 100.8
2019-10 105.2 96.5 100.9 98.8
2019-09 107.6 99.4 101.5 101.1
2019-08 108.2 99.8 101.5 101.3
2019-07 104.3 102.8 99.6 100.1
2019-06 108.5 98.8 101.0 100.4
2019-05 111.6 104.2 102.9 101.9
2019-04 106.2 101.2 101.4 100.7
2019-03 106.0 100.8 103.1 101.3
2019-02 108.0 104.7 101.2 101.0
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
2018-09 106.9 107.1 105.5 104.5
2018-08 107.5 107.9 106.9 105.4
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
2018-03 108.5 109.9 111.8 109.1
2018-02 109.8 110.7 112.7 109.6
2018-01 110.9 112.4 112.6 110.6
2017-12 110.5 111.0 110.8 110.3
2017-11 112.1 109.5 109.5 110.7
2017-10 110.7 109.4 108.9 110.0
2017-09 107.1 107.3 109.8 108.2
2017-08 108.5 106.7 108.8 107.9
2017-07 108.5 108.8 108.7 106.4
2017-06 111.4 108.3 105.6 108.0
2017-05 105.7 108.9 105.9 106.8
2017-04 103.5 107.0 106.4 107.5
2017-03 103.8 104.8 105.9 104.5
2017-02 105.3 104.0 106.8 105.9
2017-01 103.6 102.5 107.2 105.1
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 98.7 105.7 100.2
2016-08 99.0 98.4 104.3 101.1
2016-07 104.2 97.9 105.5 101.4
2016-06 102.8 97.5 106.3 101.2
2016-05 103.1 97.9 106.4 103.5
2016-04 105.5 100.3 109.5 101.0
2016-03 101.1 99.3 106.4 100.9
2016-02 99.9 100.8 109.3 99.6
2016-01 101.4 100.8 108.5 99.2
2015-12 99.5 98.3 108.1 101.4
2015-11 102.0 99.9 108.2 99.2
2015-10 104.1 98.5 108.1 99.5
2015-09 105.3 96.5 109.4 102.2
2015-08 102.9 97.7 108.2 101.2
2015-07 108.3 98.5 105.2 102.5
2015-06 104.8 97.4 105.6 100.6
2015-05 101.8 97.4 105.3 101.2
2015-04 104.2 96.9 107.4 100.3
2015-03 100.3 94.3 105.7 99.9
2015-02 99.1 95.4 101.6 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 95.0 93.7 98.3 100.3
2014-07 96.7 89.8 99.7 98.8
2014-06 95.4 92.1 98.6 98.3
2014-05 97.8 94.0 98.8 99.2
2014-04 95.6 92.8 103.2 99.9
2014-03 99.6 93.0 101.2 102.1
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 90.8 104.0 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 92.3 89.5 95.3 93.1
2013-05 91.2 89.9 95.3 91.7
2013-04 91.5 90.0 93.3 89.1
2013-03 93.8 89.3 94.3 91.1
2013-02 97.7 89.0 94.7 90.1
2013-01 97.3 88.0 92.8 91.2
2012-12 98.5 88.0 92.7 91.7
2012-11 97.9 87.5 93.2 92.1
2012-10 90.7 86.2 95.9 89.3
2012-09 96.4 91.2 97.4 93.5
2012-08 93.3 90.5 95.6 93.4
2012-07 94.2 91.0 95.5 92.1
2012-06 94.6 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 97.9 96.4 100.4 94.4
2011-11 101.7 96.0 102.5 94.0
2011-10 104.0 98.3 100.6 96.2
2011-09 101.5 99.6 99.2 97.8
2011-08 103.1 100.7 102.2 100.0
2011-07 110.9 102.8 104.3 104.5
2011-06 108.1 104.7 109.8 108.4
2011-05 109.4 103.7 105.6 107.2
2011-04 108.6 105.1 106.2 109.5
2011-03 106.3 106.9 106.6 109.2
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** (%) Mar. 22 Apr. 22 May. 22
(C1) Man. of food products and beverages 20 111 108 106
(C3) Machinery and equipment goods 11 112 113 110
[CI] Computer, electronic and optical products 3 114 115 114
[CJ] Electrical equipment 3 103 103 100
[CK] Machinery and equipment 5 115 116 115
(C4) Man. of transport equipment 18 101 102 103
[CL1] Motor vehicles, trailers and semi-trailers 9 95 98 97
[CL2] Other transport equipment 9 103 103 103
(C5) Other manufacturing 46 108 109 104
[CB] Textiles, clothing industries, leather and footwear industry 2 109 106 108
[CC] Wood, paper, printing 5 111 114 108
[CE] Chemicals and chemical products 8 106 106 100
[CG] Rubber and plastic products 7 106 109 101
[CH] Basic metals and fabricated metal products 11 108 106 103
[CM] Other manufacturing industries / Manufacture of other industrial products 9 108 109 109
  • * 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 May 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 27 April 2022 and 19 May 2022.

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

Next issue: 23 June 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 May 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 27 April 2022 and 19 May 2022.

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

Next issue: 23 June 2022 at 8:45 am.

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