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Informations Rapides · 20 September 2024 · n° 230
Informations rapidesIn September 2024, the business climate in manufacturing industry is stable Monthly business survey (goods-producing industries) - September 2024

According to the business managers surveyed in September 2024, the business climate in manufacturing industry is stable. At 99, the synthetic indicator remains just below its long-period average (100). The balance of opinion on past production has rebounded, while the ones on the level of order books have retreated.

Informations rapides
No 230
Paru le :Paru le20/09/2024
Prochaine parution le : 21/02/2025 at 08:45 - February 2025

According to the business managers surveyed in September 2024, the business climate in manufacturing industry is stable. At 99, the synthetic indicator remains just below its long-period average (100). The balance of opinion on past production has rebounded, while the ones on the level of order books have retreated.

Business climate in manufacturing - Composite indicator

Business climate in manufacturing - Composite indicator
Business climate in manufacturing - Composite indicator
2024-09 98.6
2024-08 98.9
2024-07 95.4
2024-06 98.9
2024-05 99.5
2024-04 100.0
2024-03 102.0
2024-02 100.7
2024-01 99.0
2023-12 99.4
2023-11 99.0
2023-10 99.0
2023-09 98.7
2023-08 96.8
2023-07 100.8
2023-06 100.3
2023-05 99.3
2023-04 100.9
2023-03 103.0
2023-02 103.3
2023-01 102.5
2022-12 101.6
2022-11 101.9
2022-10 103.8
2022-09 102.5
2022-08 103.2
2022-07 105.4
2022-06 107.5
2022-05 107.0
2022-04 107.9
2022-03 107.1
2022-02 111.3
2022-01 112.6
2021-12 109.3
2021-11 110.5
2021-10 108.0
2021-09 107.5
2021-08 109.2
2021-07 109.1
2021-06 107.3
2021-05 107.4
2021-04 103.5
2021-03 98.0
2021-02 96.9
2021-01 95.9
2020-12 94.8
2020-11 92.4
2020-10 94.6
2020-09 94.7
2020-08 91.0
2020-07 81.1
2020-06 76.6
2020-05 69.9
2020-04 66.3
2020-03 97.2
2020-02 100.3
2020-01 102.3
2019-12 99.2
2019-11 102.8
2019-10 100.3
2019-09 102.5
2019-08 101.9
2019-07 100.9
2019-06 101.8
2019-05 103.5
2019-04 101.0
2019-03 103.4
2019-02 102.9
2019-01 103.2
2018-12 103.6
2018-11 105.7
2018-10 104.9
2018-09 108.1
2018-08 108.6
2018-07 108.5
2018-06 109.5
2018-05 109.7
2018-04 110.3
2018-03 110.6
2018-02 112.3
2018-01 113.7
2017-12 112.1
2017-11 112.2
2017-10 112.0
2017-09 111.7
2017-08 110.0
2017-07 108.5
2017-06 109.0
2017-05 108.3
2017-04 108.2
2017-03 105.4
2017-02 106.5
2017-01 105.8
2016-12 105.8
2016-11 102.1
2016-10 102.2
2016-09 103.5
2016-08 101.5
2016-07 101.6
2016-06 101.5
2016-05 104.3
2016-04 104.8
2016-03 102.6
2016-02 103.0
2016-01 102.8
2015-12 102.6
2015-11 102.3
2015-10 103.2
2015-09 104.7
2015-08 103.6
2015-07 101.5
2015-06 100.2
2015-05 101.7
2015-04 101.5
2015-03 98.9
2015-02 98.3
2015-01 98.7
2014-12 98.6
2014-11 98.7
2014-10 97.3
2014-09 96.8
2014-08 96.5
2014-07 96.1
2014-06 96.3
2014-05 98.2
2014-04 100.2
2014-03 100.7
2014-02 98.2
2014-01 99.5
2013-12 99.1
2013-11 98.0
2013-10 97.7
2013-09 95.7
2013-08 98.4
2013-07 94.5
2013-06 92.5
2013-05 91.8
2013-04 87.3
2013-03 90.3
2013-02 90.3
2013-01 89.6
2012-12 90.6
2012-11 91.4
2012-10 86.7
2012-09 92.5
2012-08 92.7
2012-07 90.9
2012-06 92.9
2012-05 94.6
2012-04 95.5
2012-03 96.3
2012-02 94.8
2012-01 94.7
2011-12 94.5
2011-11 97.5
2011-10 97.3
2011-09 99.1
2011-08 101.2
2011-07 104.8
2011-06 109.9
2011-05 107.3
2011-04 110.2
2011-03 110.2
2011-02 106.8
2011-01 108.7
2010-12 104.1
2010-11 101.6
2010-10 103.9
2010-09 102.8
2010-08 100.2
2010-07 97.0
2010-06 95.4
2010-05 96.2
2010-04 94.7
2010-03 90.8
2010-02 88.2
2010-01 89.7
2009-12 86.9
2009-11 87.0
2009-10 84.7
2009-09 83.4
2009-08 80.4
2009-07 75.8
2009-06 74.2
2009-05 71.7
2009-04 70.0
2009-03 65.9
2009-02 67.9
2009-01 72.1
2008-12 72.7
2008-11 79.3
2008-10 86.8
2008-09 91.5
2008-08 98.0
2008-07 98.7
2008-06 103.4
2008-05 104.1
2008-04 107.4
2008-03 110.1
2008-02 110.4
2008-01 110.7
2007-12 112.6
2007-11 112.4
2007-10 110.1
2007-09 110.7
2007-08 111.1
2007-07 111.7
2007-06 111.5
2007-05 110.2
2007-04 112.1
2007-03 111.5
2007-02 111.9
2007-01 108.4
2006-12 109.3
2006-11 109.7
2006-10 107.3
2006-09 108.2
2006-08 108.6
2006-07 109.1
2006-06 108.7
2006-05 108.9
2006-04 107.9
2006-03 106.4
2006-02 106.6
2006-01 103.1
2005-12 104.1
2005-11 101.0
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 96.5
2005-03 99.5
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.* Jun-24 Jul-24 Aug-24 Sep-24
Business climate 100 99 95 99 99
Past production 5 -2 -6 -13 -6
Finished-goods inventory 12 8 9 5 7
Overall order books -18 -18 -20 -16 -19
Foreign order books -14 -9 -19 -7 -10
Past workforce size -8 0 2 1 -2
Expected workforce size -9 3 2 1 1
Personal production expectations 6 2 -5 7 6
General production expectations -7 -12 -18 -12 -11
Expected trend in selling prices 4 4 7 2 1
Economic uncertainty felt** 29 30 24 23 21
  • * 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 on the past production has rebounded, while the ones on the level of order books have retreated

In September 2024, the balance of opinion on past production has rebounded and has gone back to its July's level, but it remains below its long-term average, for the fourteenth month in a row. The balance of opinion on personal production expectations has slightly retreated and has gone back to its average. The one relative to general production prospects in the industry has increased again, but remains below its average. The economic uncertainty felt by business leaders has decreased again and has moved away from its average.

The balances of opinion associated with the level of order books, both global and foreign, have retreated. The one relative to overall order books has gone back below its long-term average, while the one relative to foreign order books remains above its one.

The balance of opinion associated with the current level of finished-goods inventories has slightly rebounded, but remains below its average.

Concerning the workforce size, the balance of opinion on their past change has decreased again, when the one on their future change remains stable. Both stay well above their average.

The balance of opinion related to the expected trend in selling prices over the next three months has slightly decreased again and has moved away from its average.

The share of companies declaring being limited in their production by workforce shortage has slightly reduced but remains above its average. The share of companies declaring sourcing difficulties as a factor limiting their production has also slightly diminished and has almost gone back to its own. In total, the share of companies declaring supply-side obstacles only has been decreasing for almost two years: at 22%, it has gone back to its long-term average. Lastly, the share of companies declaring difficulties of demand only has slightly increased: at 28%, it is nonetheless well below its long-period average.

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.** Jun-24 Jul-24 Aug-24 Sep-24
Difficulties of supply and demand 9 9 10 10 12
Sourcing difficulties 11 13 13 13 12
Workforce shortage 9 20 14 14 13
Difficulties of supply only 22 25 25 24 22
Difficulties of demand only 39 30 27 27 28
  • * 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 gone back down in the manufacture of food products and beverages

In September 2024, the business climate indicator in the manufacture of food products and beverages has gone back down. At 94, it has moved away from its long-period average. The balances of opinion on the level of order books and on personal production expectations, which had significantly recovered in August, are decreasing anew. The ones on the level of order books are particularly degraded.

In the manufacture of machinery and equipment goods, the synthetic indicator of the business climate is stable, below its average. The indicator has rebounded in the manufacture of computer, electronic and optical products and in the manufacture of electrical equipment. On the contrary, it has decreased, for the fourth month in a row, in the manufacture of machinery and equipment, where it has reached its lowest level since August 2020.

In the manufacture of transport equipment, the synthetic indicator of the business climate is stable, well above its long-period average. It has increased again in the sub-sector of “motor vehicles, trailers and semi-trailers” and has moved closer to its average: in particular, the balance of opinion of past production has significantly rebounded. In the manufacture of “other transport equipment”, the indicator has slightly retreated but remains well above its average.

Finally, the business climate indicator in “other manufacturing” has slightly retreated. At 94, the indicator is pretty clearly below its average. It has decreased in every sub sectors except for the manufacture of “other industrial products”.

Business climates in a sector-based approach

Business climates in a sector-based approach
(C1) (C3) (C4) (C5)
2024-09 94.3 96.0 110.2 93.7
2024-08 97.3 95.7 110.1 95.0
2024-07 92.0 97.2 100.2 94.2
2024-06 92.2 99.2 109.4 95.2
2024-05 90.3 99.4 108.9 96.7
2024-04 92.1 96.9 111.1 95.2
2024-03 89.6 102.2 112.1 95.9
2024-02 86.8 98.4 111.1 96.4
2024-01 86.8 98.8 112.3 94.3
2023-12 85.9 98.7 111.4 95.2
2023-11 86.1 103.7 110.5 94.4
2023-10 85.0 101.1 111.8 94.8
2023-09 88.0 104.6 103.2 95.8
2023-08 88.0 102.2 102.9 95.1
2023-07 91.6 106.3 111.8 94.6
2023-06 87.1 105.6 105.1 94.7
2023-05 92.4 106.3 103.7 95.0
2023-04 93.9 109.7 103.4 97.3
2023-03 97.2 111.5 103.5 98.4
2023-02 101.7 109.8 104.2 96.4
2023-01 100.7 111.0 103.1 96.7
2022-12 99.5 112.1 102.3 96.0
2022-11 104.8 110.9 103.6 95.9
2022-10 108.8 113.9 104.7 97.0
2022-09 107.3 111.5 99.5 98.7
2022-08 107.5 112.8 99.9 99.6
2022-07 107.2 112.5 105.2 101.7
2022-06 107.4 112.3 101.8 105.7
2022-05 107.0 111.9 101.4 104.8
2022-04 109.2 113.2 101.7 108.4
2022-03 109.7 111.9 99.6 107.6
2022-02 110.8 114.8 103.9 111.6
2022-01 112.1 115.7 104.5 110.8
2021-12 116.4 116.5 91.2 112.3
2021-11 115.8 116.4 97.4 113.9
2021-10 113.5 115.8 90.5 111.8
2021-09 109.6 116.0 89.4 113.1
2021-08 111.1 119.4 92.4 113.1
2021-07 114.2 114.7 91.9 114.7
2021-06 116.5 115.3 89.9 110.7
2021-05 116.0 111.8 89.8 110.3
2021-04 105.7 112.8 88.6 107.0
2021-03 100.1 105.9 83.1 103.9
2021-02 94.6 105.0 88.9 101.4
2021-01 91.7 103.1 87.1 100.6
2020-12 89.3 95.2 88.9 101.8
2020-11 93.3 91.1 90.7 95.0
2020-10 94.5 93.0 91.4 95.8
2020-09 102.6 90.2 92.7 92.8
2020-08 96.5 89.8 90.7 87.7
2020-07 88.4 84.6 79.8 81.1
2020-06 90.9 79.1 76.1 78.4
2020-05 91.5 76.8 74.9 73.6
2020-04 93.5 76.9 72.5 72.4
2020-03 107.8 98.1 94.9 97.1
2020-02 108.1 98.9 99.3 100.2
2020-01 108.3 99.7 105.5 99.4
2019-12 107.6 97.2 100.8 97.8
2019-11 104.8 98.2 107.4 101.2
2019-10 105.8 96.1 101.3 99.9
2019-09 108.3 99.8 102.5 101.8
2019-08 108.6 99.1 101.5 101.7
2019-07 103.0 102.7 99.6 100.3
2019-06 108.6 98.8 100.4 100.7
2019-05 111.0 104.0 102.1 102.1
2019-04 107.3 101.0 100.4 100.4
2019-03 107.7 100.3 102.2 101.4
2019-02 108.4 104.2 99.5 101.2
2019-01 108.0 102.4 102.0 102.1
2018-12 107.8 102.7 103.0 102.3
2018-11 109.0 102.1 105.1 103.0
2018-10 102.7 106.3 104.2 103.7
2018-09 107.6 107.7 105.8 105.4
2018-08 107.8 107.2 106.5 105.8
2018-07 107.3 107.7 106.6 106.5
2018-06 109.5 107.4 109.8 105.6
2018-05 108.1 110.8 108.3 107.6
2018-04 110.3 109.1 111.5 107.3
2018-03 109.2 109.1 111.2 109.5
2018-02 110.1 109.9 111.6 110.1
2018-01 111.1 111.3 112.1 111.2
2017-12 111.2 111.2 111.0 110.6
2017-11 111.9 109.8 110.1 111.5
2017-10 112.0 109.0 109.1 111.4
2017-09 106.8 107.7 110.1 109.2
2017-08 108.8 106.1 108.8 108.2
2017-07 109.1 108.4 109.1 106.8
2017-06 111.6 108.2 104.9 108.5
2017-05 105.7 108.2 105.3 106.8
2017-04 105.5 106.3 103.9 107.5
2017-03 104.4 103.9 104.6 104.7
2017-02 105.4 103.2 105.7 106.3
2017-01 103.7 101.5 106.2 105.6
2016-12 108.6 103.1 104.6 104.9
2016-11 108.0 99.4 102.0 101.5
2016-10 106.8 97.3 105.9 101.2
2016-09 109.2 98.4 105.3 100.4
2016-08 99.5 98.2 104.1 101.4
2016-07 104.6 97.5 105.4 101.7
2016-06 103.2 97.1 106.0 101.5
2016-05 103.4 97.2 105.8 103.8
2016-04 106.1 100.0 109.2 101.2
2016-03 101.6 99.2 105.9 101.1
2016-02 100.3 100.8 109.2 99.9
2016-01 101.7 100.7 108.2 99.5
2015-12 100.1 98.1 108.0 101.7
2015-11 102.6 99.7 107.8 99.4
2015-10 104.4 98.1 108.1 99.8
2015-09 105.6 96.0 109.3 102.6
2015-08 103.3 97.2 108.4 101.5
2015-07 108.5 98.4 104.9 102.8
2015-06 105.1 97.1 105.3 100.9
2015-05 101.9 97.2 104.9 101.5
2015-04 104.8 96.7 107.1 100.6
2015-03 100.9 94.3 105.2 100.1
2015-02 99.6 95.0 100.6 100.2
2015-01 103.3 93.3 101.4 99.7
2014-12 99.3 92.0 99.5 100.2
2014-11 96.2 92.0 99.9 99.7
2014-10 95.6 92.5 97.1 98.4
2014-09 94.4 92.1 101.0 97.2
2014-08 95.8 93.4 97.7 100.6
2014-07 97.3 89.1 98.6 99.0
2014-06 95.7 91.7 97.7 98.5
2014-05 98.2 93.7 97.7 99.4
2014-04 95.9 92.8 102.5 100.1
2014-03 99.8 92.8 100.6 102.4
2014-02 99.3 93.7 98.0 98.2
2014-01 99.4 91.0 101.9 98.6
2013-12 98.2 91.9 99.4 99.1
2013-11 98.2 92.1 102.1 98.6
2013-10 95.5 90.1 103.5 97.6
2013-09 95.0 89.9 97.3 97.1
2013-08 95.5 91.5 101.1 97.0
2013-07 92.5 89.5 98.5 94.9
2013-06 92.7 89.1 94.5 93.1
2013-05 91.6 89.3 94.8 91.7
2013-04 91.7 89.5 92.6 89.1
2013-03 94.0 88.8 93.4 91.1
2013-02 98.0 88.8 94.3 90.1
2013-01 97.6 87.9 92.9 91.2
2012-12 98.8 87.4 92.2 91.7
2012-11 98.2 87.2 92.8 92.2
2012-10 91.0 86.1 95.9 89.3
2012-09 96.8 91.0 97.6 93.5
2012-08 93.8 90.2 95.2 93.4
2012-07 94.6 90.9 95.5 92.2
2012-06 95.1 90.9 95.6 93.6
2012-05 93.4 94.9 95.0 95.8
2012-04 99.1 95.7 94.3 97.7
2012-03 102.6 96.4 103.1 97.1
2012-02 100.6 96.1 93.6 95.8
2012-01 100.0 96.1 94.7 94.0
2011-12 98.6 96.0 100.0 94.4
2011-11 102.2 96.0 102.6 94.1
2011-10 104.5 98.3 100.2 96.3
2011-09 101.9 99.5 98.4 98.0
2011-08 103.6 100.3 101.8 100.3
2011-07 111.5 102.3 103.5 104.9
2011-06 108.6 104.1 109.3 108.9
2011-05 109.8 103.1 105.0 107.7
2011-04 109.0 104.5 105.8 110.0
2011-03 106.7 106.3 106.2 109.7
2011-02 107.3 101.7 98.8 108.4
2011-01 109.0 103.8 104.9 105.2

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** (%) Jul-24 Aug-24 Sep-24
(C1) Man. of food products and beverages 20 92 97 94
(C3) Machinery and equipment goods 11 97 96 96
          [CI] Computer, electronic and optical products 4 108 104 106
          [CJ] Electrical equipment 3 94 92 94
          [CK] Machinery and equipment 5 94 93 91
(C4) Man. of transport equipment 19 100 110 110
          [CL1] Motor vehicles, trailers and semi-trailers 9 95 96 98
          [CL2] Other transport equipment 10 103 118 116
(C5) Other manufacturing 45 94 95 94
          [CB] Textiles, clothing industries, leather and footwear industry 2 98 103 100
          [CC] Wood, paper, printing 4 95 97 93
          [CE] Chemicals and chemical products 8 91 94 90
          [CG] Rubber and plastic products 7 86 89 87
          [CH] Basic metals and fabricated metal products 11 95 92 91
          [CM] Other manufacturing industries / Manufacture of other industrial products 10 103 101 102
  • * 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 August 2024 has not been revised (after rounding).

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.

This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

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

Answers to this survey have been gathered between 28 August 2024 and 17 September 2024; most companies answer during the first two weeks of collection.

Next issue: 24 October 2024 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.

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.

This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

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

Answers to this survey have been gathered between 28 August 2024 and 17 September 2024; most companies answer during the first two weeks of collection.

Next issue: 24 October 2024 at 8:45 am.

: bureau-de-presse@insee.fr
: