Insee
Informations Rapides · 22 June 2023 · n° 152
Informations rapidesIn June 2023, the business climate in manufacturing industry has rebounded Monthly business survey (goods-producing industries) - June 2023

Informations rapides
No 152
Paru le :Paru le22/06/2023
Prochaine parution le : 22/05/2025 at 08:45 - May 2025
Imprimer
Découvrir la collection
Données
(xls, 1 Mo)

According to the business managers surveyed in June 2023, the business climate in the manufacturing industry is a little bit better than in May. At 101, the synthetic indicator has won two points and has gone back above its long-term average (100). The balances of opinion on the production and on the overall order-books have particularly contributed to this rise.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
2023-06 100.8
2023-05 98.6
2023-04 100.7
2023-03 103.5
2023-02 104.6
2023-01 102.9
2022-12 102.0
2022-11 101.0
2022-10 102.9
2022-09 101.5
2022-08 103.4
2022-07 105.6
2022-06 107.9
2022-05 106.3
2022-04 107.6
2022-03 107.4
2022-02 112.3
2022-01 112.9
2021-12 109.7
2021-11 109.5
2021-10 107.0
2021-09 106.4
2021-08 109.5
2021-07 109.2
2021-06 107.7
2021-05 107.0
2021-04 103.4
2021-03 98.4
2021-02 98.0
2021-01 96.3
2020-12 95.1
2020-11 91.7
2020-10 93.9
2020-09 94.0
2020-08 91.3
2020-07 81.4
2020-06 77.1
2020-05 69.9
2020-04 66.5
2020-03 97.3
2020-02 100.9
2020-01 102.6
2019-12 99.3
2019-11 101.8
2019-10 99.4
2019-09 101.5
2019-08 102.0
2019-07 101.2
2019-06 101.7
2019-05 103.7
2019-04 101.2
2019-03 103.3
2019-02 103.4
2019-01 103.5
2018-12 103.5
2018-11 105.1
2018-10 104.2
2018-09 107.1
2018-08 108.7
2018-07 108.3
2018-06 109.6
2018-05 109.8
2018-04 110.4
2018-03 110.5
2018-02 112.5
2018-01 113.8
2017-12 111.9
2017-11 111.5
2017-10 111.0
2017-09 110.9
2017-08 110.0
2017-07 108.0
2017-06 108.9
2017-05 108.7
2017-04 108.5
2017-03 105.5
2017-02 106.7
2017-01 105.9
2016-12 105.7
2016-11 102.1
2016-10 102.1
2016-09 103.4
2016-08 101.5
2016-07 101.5
2016-06 101.4
2016-05 104.3
2016-04 104.7
2016-03 102.5
2016-02 102.9
2016-01 102.7
2015-12 102.5
2015-11 102.2
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 98.9
2015-02 98.4
2015-01 98.7
2014-12 98.6
2014-11 98.8
2014-10 97.3
2014-09 96.8
2014-08 96.5
2014-07 96.2
2014-06 96.4
2014-05 98.2
2014-04 100.2
2014-03 100.7
2014-02 98.2
2014-01 99.5
2013-12 99.2
2013-11 98.0
2013-10 97.8
2013-09 95.8
2013-08 98.4
2013-07 94.6
2013-06 92.5
2013-05 91.9
2013-04 87.5
2013-03 90.4
2013-02 90.4
2013-01 89.7
2012-12 90.7
2012-11 91.5
2012-10 86.9
2012-09 92.5
2012-08 92.7
2012-07 90.9
2012-06 93.0
2012-05 94.7
2012-04 95.5
2012-03 96.4
2012-02 94.8
2012-01 94.8
2011-12 94.6
2011-11 97.4
2011-10 97.3
2011-09 99.1
2011-08 101.2
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 97.1
2010-06 95.6
2010-05 96.3
2010-04 94.9
2010-03 90.9
2010-02 88.4
2010-01 90.0
2009-12 87.2
2009-11 87.3
2009-10 84.9
2009-09 83.7
2009-08 80.6
2009-07 76.1
2009-06 74.6
2009-05 72.0
2009-04 70.2
2009-03 66.2
2009-02 68.1
2009-01 72.3
2008-12 73.0
2008-11 79.5
2008-10 86.9
2008-09 91.4
2008-08 97.9
2008-07 98.7
2008-06 103.4
2008-05 104.1
2008-04 107.3
2008-03 109.9
2008-02 110.3
2008-01 110.5
2007-12 112.5
2007-11 112.2
2007-10 109.9
2007-09 110.6
2007-08 110.9
2007-07 111.5
2007-06 111.2
2007-05 110.0
2007-04 111.9
2007-03 111.3
2007-02 111.7
2007-01 108.3
2006-12 109.2
2006-11 109.6
2006-10 107.2
2006-09 108.1
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
2006-01 103.0
2005-12 104.0
2005-11 100.9
2005-10 101.0
2005-09 98.8
2005-08 99.5
2005-07 100.0
2005-06 98.9
2005-05 96.9
2005-04 96.4
2005-03 99.6
2005-02 103.0
2005-01 103.2

Business climate in manufacturing - Composite indicator

  • Source: INSEE

Industrialists’ opinion on manufacturing industry

Balance of opinion, in %, SA
Industrialists’ opinion on manufacturing industry (Balance of opinion, in %, SA)
Manufacturing industry Ave.* Mar-23 Apr-23 May-23 Jun-23
Business climate 100 104 101 99 101
Past production 5 10 9 1 7
Finished-goods inventory 12 13 22 14 14
Overall order books -18 -13 -17 -21 -17
Foreign order books -14 -9 -10 -12 -14
Past workforce size -8 13 9 9 8
Expected workforce size -10 16 11 10 10
Personal production expectations 6 10 5 5 8
General production expectations -7 -1 -4 -10 -9
Expected trend in selling prices 4 28 13 3 4
Economic uncertainty felt** 30 33 30 26 32
  • * Long-term average since 1976 except for the economic uncertainty felt (April 2021).
  • ** Non-seasonally adjusted balance of opinion
  • Source: INSEE - Monthly business tendency survey in industry

The balances of opinion related to the past and future production have rebounded

In June 2023, in the manufacturing industry, the balances of opinion related to the past and future production have rebounded and have gone back above their averages. The balance of opinion related to the general production prospects in the sector is almost stable, below its own. The one measuring the economic uncertainty felt by the business managers has rebounded.

The balance of opinion associated with the level of overall order-books has straightened up and has gone back just above its average. However, the one associated with the foreign order-books has decreased for the third month in a row and has reached its own.

The balance of opinion associated with the current level of the inventories of finished-goods is stable, just above its average.

The balances of opinion associated with the past and expected change in the workforce size are almost stable again, well above their respective averages.

The balance of opinion related to the expected trend in selling prices over the next three months is almost stable, at its average level, after five months of decline.

The share of companies declaring sourcing difficulties as a factor limiting their production is almost stable, at 21%. The share of companies declaring being limited in their production by workforce shortage has gone from 17% to 20%. These shares remain well above their respective averages.

Share of companies declaring obstacles limiting their production*

Share of companies, in % of answers, SA
Share of companies declaring obstacles limiting their production* (Share of companies, in % of answers, SA)
Manufacturing industry Ave.** Mar-23 Apr-23 May-23 Jun-23
Difficulties of supply and demand 9 10 15 10 9
Sourcing difficulties 11 28 25 20 21
Workforce shortage 9 18 20 17 20
Difficulties of supply only 22 42 40 36 40
Difficulties of demand only 40 18 18 19 18
  • * Quaterly series from January 1991 then monthly series from May 2022
  • ** Long-term average since 1991 on monthly series (over the quarterly collection period, the point collected in the first month of each quarter was carried over identically to the following two months).
  • Sources : INSEE – Monthly business survey in industry

The business climate has continued to deteriorate in the manufacture of food products but has brightened up in the manufacture of motor vehicles

In June 2023 in the manufacture of food products and beverages, the business climate indicator has deteriorated for the fourth month in a row. It has reached its lowest level since January 2021, well below its long-term average. Business leaders’ opinion about overall order-books has been particularly degraded.

In the manufacture of machinery and equipment goods, the business climate is stable, after two months of decline. The synthetic indicator remains above its average.

The business climate has brightened up in the manufacture of transport equipment. It has straightened up in the manufacture of motor vehicles, trailers and semi-trailers and has gone back above its average. It is stable in the manufacture of other transport equipment where it has evolved above its average since January 2022.

Finally, the business climate is stable on the whole in the “other industries” sector. The synthetic indicator remains under its long-term average since August 2022. It has straightened up in particular in the manufacture of “other industrial products”, carried by the balance of opinion on the overall order-books.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2023-06 88.8 105.1 106.0 94.7
2023-05 90.8 105.3 104.3 94.6
2023-04 92.6 109.5 103.6 97.9
2023-03 98.8 111.4 104.4 99.1
2023-02 101.5 110.1 106.2 96.7
2023-01 98.2 111.2 104.1 96.7
2022-12 99.8 111.2 100.8 96.2
2022-11 104.4 110.0 102.4 95.5
2022-10 107.1 112.9 105.4 95.8
2022-09 106.5 110.2 99.2 97.9
2022-08 107.1 112.3 100.5 99.3
2022-07 107.2 111.8 106.2 101.3
2022-06 108.7 110.8 103.0 105.8
2022-05 105.5 110.3 102.2 104.4
2022-04 107.8 112.5 101.8 108.8
2022-03 110.6 111.4 100.6 108.1
2022-02 110.5 114.9 106.0 111.6
2022-01 110.0 116.0 106.1 110.6
2021-12 117.0 115.8 90.7 112.3
2021-11 115.5 115.4 96.4 113.4
2021-10 111.7 115.3 91.4 110.4
2021-09 109.3 114.9 88.9 112.3
2021-08 111.4 119.5 93.5 112.5
2021-07 114.6 114.9 92.8 114.2
2021-06 118.8 114.8 90.6 110.7
2021-05 115.1 111.5 90.9 109.8
2021-04 104.2 113.1 89.5 107.3
2021-03 100.4 106.4 84.5 104.2
2021-02 93.9 105.7 91.0 101.4
2021-01 89.4 104.5 88.4 100.5
2020-12 89.5 96.1 88.0 101.9
2020-11 92.3 91.5 89.7 94.7
2020-10 93.3 94.4 91.6 94.6
2020-09 102.3 91.1 92.2 92.3
2020-08 95.9 91.5 91.4 87.4
2020-07 89.0 84.9 80.2 81.1
2020-06 92.4 78.7 77.0 78.7
2020-05 90.0 75.8 75.4 73.8
2020-04 91.3 76.6 73.0 73.1
2020-03 106.8 97.8 95.9 97.2
2020-02 107.5 99.2 100.6 100.2
2020-01 107.3 100.5 106.1 99.4
2019-12 107.4 97.1 99.7 98.0
2019-11 103.7 97.5 105.7 100.9
2019-10 105.2 96.1 100.8 98.9
2019-09 107.6 99.1 101.5 101.2
2019-08 108.2 99.5 101.4 101.4
2019-07 104.4 102.4 99.5 100.2
2019-06 108.6 98.5 100.9 100.5
2019-05 111.6 103.8 102.8 102.0
2019-04 106.2 100.9 101.4 100.7
2019-03 106.0 100.5 103.0 101.3
2019-02 108.0 104.4 101.1 101.1
2019-01 107.4 103.0 103.0 102.0
2018-12 107.2 101.8 102.8 102.4
2018-11 109.3 101.6 104.2 102.7
2018-10 102.1 106.4 104.0 102.7
2018-09 106.9 106.8 105.5 104.6
2018-08 107.6 107.6 106.8 105.5
2018-07 107.5 107.6 106.4 106.3
2018-06 110.2 107.4 110.3 105.5
2018-05 107.7 110.8 108.6 107.5
2018-04 109.0 109.5 113.0 107.5
2018-03 108.6 109.5 111.8 109.3
2018-02 109.9 110.4 112.7 109.8
2018-01 111.0 112.0 112.7 110.8
2017-12 110.6 110.7 110.8 110.5
2017-11 112.2 109.2 109.5 111.0
2017-10 110.8 109.1 108.9 110.2
2017-09 107.1 106.9 109.8 108.3
2017-08 108.5 106.4 108.8 108.1
2017-07 108.5 108.5 108.7 106.6
2017-06 111.5 107.9 105.6 108.2
2017-05 105.7 108.5 105.9 107.0
2017-04 103.5 106.7 106.3 107.7
2017-03 103.8 104.4 105.9 104.7
2017-02 105.3 103.6 106.8 106.1
2017-01 103.6 102.2 107.2 105.3
2016-12 108.2 103.3 104.9 104.6
2016-11 107.6 99.6 102.6 101.3
2016-10 106.3 97.4 106.1 101.0
2016-09 108.6 98.3 105.6 100.2
2016-08 98.9 98.1 104.2 101.2
2016-07 104.2 97.6 105.5 101.4
2016-06 102.8 97.1 106.3 101.3
2016-05 103.1 97.6 106.4 103.6
2016-04 105.6 100.0 109.5 101.0
2016-03 101.2 99.0 106.3 101.0
2016-02 99.9 100.5 109.4 99.7
2016-01 101.4 100.4 108.5 99.3
2015-12 99.5 98.0 108.1 101.5
2015-11 102.0 99.5 108.2 99.3
2015-10 104.1 98.1 108.1 99.6
2015-09 105.3 96.1 109.5 102.3
2015-08 102.9 97.4 108.2 101.2
2015-07 108.3 98.2 105.2 102.6
2015-06 104.8 97.0 105.6 100.7
2015-05 101.8 97.1 105.3 101.3
2015-04 104.3 96.6 107.4 100.4
2015-03 100.3 94.0 105.6 99.9
2015-02 99.1 95.1 101.4 100.0
2015-01 103.0 93.5 102.0 99.5
2014-12 98.8 92.2 100.0 100.0
2014-11 95.7 92.2 100.4 99.5
2014-10 95.3 92.5 97.5 98.3
2014-09 94.1 92.1 101.1 97.0
2014-08 95.0 93.4 98.1 100.4
2014-07 96.7 89.5 99.5 98.9
2014-06 95.3 91.8 98.4 98.3
2014-05 97.7 93.7 98.6 99.2
2014-04 95.5 92.5 103.1 99.9
2014-03 99.6 92.7 101.0 102.2
2014-02 98.8 93.9 98.4 98.1
2014-01 99.1 91.3 102.8 98.4
2013-12 98.1 91.9 100.2 98.9
2013-11 97.9 92.8 102.3 98.5
2013-10 95.1 90.5 103.9 97.5
2013-09 94.5 90.2 97.9 96.9
2013-08 95.1 91.8 101.7 96.9
2013-07 92.0 89.7 99.0 94.7
2013-06 92.2 89.1 95.1 93.0
2013-05 91.1 89.6 95.1 91.6
2013-04 91.4 89.7 93.1 89.0
2013-03 93.6 88.9 94.0 91.1
2013-02 97.6 88.7 94.5 90.1
2013-01 97.2 87.7 92.6 91.1
2012-12 98.4 87.7 92.5 91.7
2012-11 97.9 87.2 93.0 92.1
2012-10 90.6 85.9 95.8 89.2
2012-09 96.3 90.8 97.3 93.5
2012-08 93.2 90.2 95.5 93.4
2012-07 94.2 90.7 95.3 92.1
2012-06 94.6 90.9 95.9 93.5
2012-05 93.0 94.5 95.2 95.7
2012-04 98.6 96.0 94.3 97.5
2012-03 102.0 96.4 103.2 96.9
2012-02 100.0 95.8 93.9 95.7
2012-01 99.3 95.9 95.1 93.9
2011-12 97.9 96.1 100.3 94.3
2011-11 101.7 95.7 102.5 94.0
2011-10 104.1 98.0 100.4 96.2
2011-09 101.5 99.3 99.1 97.9
2011-08 103.1 100.4 102.1 100.1
2011-07 111.1 102.5 104.2 104.7
2011-06 108.1 104.4 109.8 108.6
2011-05 109.4 103.3 105.6 107.4
2011-04 108.7 104.7 106.2 109.7
2011-03 106.4 106.6 106.6 109.4
2011-02 107.2 102.5 100.0 108.1
2011-01 108.8 104.3 105.5 104.9

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) and [A38 and A64] Weights** (%) Apr-23 May-23 Jun-23
(C1) Man. of food products and beverages 20 93 91 89
(C3) Machinery and equipment goods 11 109 105 105
[CI] Computer, electronic and optical products 4 115 113 114
[CJ] Electrical equipment 3 101 98 96
[CK] Machinery and equipment 5 108 104 104
(C4) Man. of transport equipment 19 104 104 106
[CL1] Motor vehicles, trailers and semi-trailers 9 101 98 101
[CL2] Other transport equipment 10 103 105 105
(C5) Other manufacturing 45 98 95 95
[CB] Textiles, clothing industries, leather and footwear industry 2 113 111 105
[CC] Wood, paper, printing 4 90 87 87
[CE] Chemicals and chemical products 8 92 92 92
[CG] Rubber and plastic products 7 91 89 89
[CH] Basic metals and fabricated metal products 11 96 93 91
[CM] Other manufacturing industries / Manufacture of other industrial products 10 107 101 105
  • * NA: aggregated classification, based on the French classification of activities NAF rév.2.
  • ** Weights used to aggregate sub-sectors’ balances of opinion.
  • Source: INSEE - Monthly business tendency survey in industry

Revisions

The business climate in manufacturing industry of May 2023 has not been revised (after rounding), despite the inclusion of late responses from businesses.

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.

The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole of manufacturing industry cannot be deduced from the sub-sectoral climates. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10.

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

Answers to this survey have been gathered between 26 May and 19 June 2023.

Next issue: 20 July 2023 at 8:45 am.

Documentation

Changes to business tendency surveys – October 2021 (pdf,181 Ko)

Abbreviated methodology (pdf,157 Ko)

Monthly outlook survey in industry

Aggregated classification - NA, 2008

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.

The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole of manufacturing industry cannot be deduced from the sub-sectoral climates. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10.

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

Answers to this survey have been gathered between 26 May and 19 June 2023.

Next issue: 20 July 2023 at 8:45 am.

: bureau-de-presse@insee.fr
:

Publication calendar

Time series : Industry - Activity and demand

Ouvrir dans un nouvel ongletThe Joint Harmonised EU Programme of Business and Consumer Surveys (BCS)