Informations Rapides ·
24 July 2025 · n° 181
In July 2025, the business climate in manufacturing industry is virtually stable Monthly business survey (goods-producing industries) - July 2025
In July 2025, the business climate in manufacturing industry is virtually stable. At 96 after rounding, the synthetic indicator has lost one point and remains below its long-term average (100). The balances of opinion relating to production (both past and expected) have deteriorated. The balance associated with foreign order books has declined while the one on global order books has increased.
The seasonal coefficients as well as the parameters of the composite indicators have been updated in July 2025, as usual at this time of year. This has led to revisions to all the results previously released for this survey. Those revisions are for the most part relatively minor and do not affect the interpretation of the economic assessment.
In July 2025, the business climate in manufacturing industry is virtually stable. At 96 after rounding, the synthetic indicator has lost one point and remains below its long-term average (100). The balances of opinion relating to production (both past and expected) have deteriorated. The balance associated with foreign order books has declined while the one on global order books has increased.
tableauBusiness climate in manufacturing - Composite indicator
| Business climate in manufacturing - Composite indicator | |
|---|---|
| 2025-07 | 96.5 |
| 2025-06 | 96.5 |
| 2025-05 | 97.2 |
| 2025-04 | 100.0 |
| 2025-03 | 96.7 |
| 2025-02 | 97.4 |
| 2025-01 | 96.0 |
| 2024-12 | 96.6 |
| 2024-11 | 96.1 |
| 2024-10 | 92.6 |
| 2024-09 | 98.3 |
| 2024-08 | 99.4 |
| 2024-07 | 96.2 |
| 2024-06 | 99.4 |
| 2024-05 | 99.8 |
| 2024-04 | 100.4 |
| 2024-03 | 102.7 |
| 2024-02 | 101.2 |
| 2024-01 | 99.6 |
| 2023-12 | 99.0 |
| 2023-11 | 98.7 |
| 2023-10 | 98.8 |
| 2023-09 | 97.9 |
| 2023-08 | 97.0 |
| 2023-07 | 101.5 |
| 2023-06 | 100.8 |
| 2023-05 | 99.5 |
| 2023-04 | 101.1 |
| 2023-03 | 103.6 |
| 2023-02 | 103.6 |
| 2023-01 | 102.9 |
| 2022-12 | 101.1 |
| 2022-11 | 101.4 |
| 2022-10 | 103.3 |
| 2022-09 | 101.6 |
| 2022-08 | 103.5 |
| 2022-07 | 106.0 |
| 2022-06 | 108.2 |
| 2022-05 | 107.5 |
| 2022-04 | 108.4 |
| 2022-03 | 107.7 |
| 2022-02 | 111.7 |
| 2022-01 | 113.0 |
| 2021-12 | 108.7 |
| 2021-11 | 110.0 |
| 2021-10 | 107.4 |
| 2021-09 | 106.5 |
| 2021-08 | 109.2 |
| 2021-07 | 109.4 |
| 2021-06 | 107.8 |
| 2021-05 | 107.7 |
| 2021-04 | 103.7 |
| 2021-03 | 98.3 |
| 2021-02 | 97.0 |
| 2021-01 | 96.1 |
| 2020-12 | 94.0 |
| 2020-11 | 91.4 |
| 2020-10 | 93.6 |
| 2020-09 | 93.4 |
| 2020-08 | 90.8 |
| 2020-07 | 81.2 |
| 2020-06 | 77.1 |
| 2020-05 | 70.8 |
| 2020-04 | 66.9 |
| 2020-03 | 97.7 |
| 2020-02 | 100.7 |
| 2020-01 | 102.9 |
| 2019-12 | 99.1 |
| 2019-11 | 102.4 |
| 2019-10 | 99.7 |
| 2019-09 | 101.8 |
| 2019-08 | 102.1 |
| 2019-07 | 101.1 |
| 2019-06 | 102.1 |
| 2019-05 | 104.3 |
| 2019-04 | 101.7 |
| 2019-03 | 103.8 |
| 2019-02 | 103.1 |
| 2019-01 | 103.6 |
| 2018-12 | 103.6 |
| 2018-11 | 105.2 |
| 2018-10 | 104.4 |
| 2018-09 | 107.4 |
| 2018-08 | 108.7 |
| 2018-07 | 108.7 |
| 2018-06 | 109.9 |
| 2018-05 | 110.4 |
| 2018-04 | 111.1 |
| 2018-03 | 111.0 |
| 2018-02 | 112.7 |
| 2018-01 | 114.0 |
| 2017-12 | 112.2 |
| 2017-11 | 111.8 |
| 2017-10 | 111.5 |
| 2017-09 | 111.2 |
| 2017-08 | 110.1 |
| 2017-07 | 108.8 |
| 2017-06 | 109.2 |
| 2017-05 | 108.8 |
| 2017-04 | 108.9 |
| 2017-03 | 105.6 |
| 2017-02 | 106.8 |
| 2017-01 | 106.0 |
| 2016-12 | 105.8 |
| 2016-11 | 102.2 |
| 2016-10 | 102.3 |
| 2016-09 | 103.5 |
| 2016-08 | 101.6 |
| 2016-07 | 101.8 |
| 2016-06 | 101.7 |
| 2016-05 | 104.3 |
| 2016-04 | 104.8 |
| 2016-03 | 102.7 |
| 2016-02 | 103.2 |
| 2016-01 | 103.1 |
| 2015-12 | 102.8 |
| 2015-11 | 102.3 |
| 2015-10 | 103.2 |
| 2015-09 | 104.7 |
| 2015-08 | 103.7 |
| 2015-07 | 101.5 |
| 2015-06 | 100.2 |
| 2015-05 | 101.6 |
| 2015-04 | 101.5 |
| 2015-03 | 99.1 |
| 2015-02 | 98.3 |
| 2015-01 | 98.7 |
| 2014-12 | 98.7 |
| 2014-11 | 98.8 |
| 2014-10 | 97.3 |
| 2014-09 | 96.8 |
| 2014-08 | 96.5 |
| 2014-07 | 96.2 |
| 2014-06 | 96.2 |
| 2014-05 | 98.1 |
| 2014-04 | 100.3 |
| 2014-03 | 100.7 |
| 2014-02 | 98.2 |
| 2014-01 | 99.6 |
| 2013-12 | 99.1 |
| 2013-11 | 97.9 |
| 2013-10 | 97.7 |
| 2013-09 | 95.8 |
| 2013-08 | 98.3 |
| 2013-07 | 94.6 |
| 2013-06 | 92.5 |
| 2013-05 | 91.8 |
| 2013-04 | 87.3 |
| 2013-03 | 90.3 |
| 2013-02 | 90.4 |
| 2013-01 | 89.7 |
| 2012-12 | 90.6 |
| 2012-11 | 91.5 |
| 2012-10 | 86.8 |
| 2012-09 | 92.7 |
| 2012-08 | 92.7 |
| 2012-07 | 91.0 |
| 2012-06 | 93.0 |
| 2012-05 | 94.7 |
| 2012-04 | 95.5 |
| 2012-03 | 96.5 |
| 2012-02 | 94.9 |
| 2012-01 | 94.7 |
| 2011-12 | 94.6 |
| 2011-11 | 97.6 |
| 2011-10 | 97.4 |
| 2011-09 | 99.1 |
| 2011-08 | 101.3 |
| 2011-07 | 104.9 |
| 2011-06 | 109.8 |
| 2011-05 | 107.2 |
| 2011-04 | 110.2 |
| 2011-03 | 110.2 |
| 2011-02 | 106.6 |
| 2011-01 | 108.6 |
| 2010-12 | 104.0 |
| 2010-11 | 101.5 |
| 2010-10 | 103.6 |
| 2010-09 | 102.5 |
| 2010-08 | 99.8 |
| 2010-07 | 96.7 |
| 2010-06 | 95.0 |
| 2010-05 | 95.7 |
| 2010-04 | 94.2 |
| 2010-03 | 90.3 |
| 2010-02 | 87.7 |
| 2010-01 | 89.2 |
| 2009-12 | 86.4 |
| 2009-11 | 86.4 |
| 2009-10 | 84.2 |
| 2009-09 | 82.9 |
| 2009-08 | 80.0 |
| 2009-07 | 75.5 |
| 2009-06 | 73.8 |
| 2009-05 | 71.6 |
| 2009-04 | 70.0 |
| 2009-03 | 65.9 |
| 2009-02 | 68.0 |
| 2009-01 | 72.2 |
| 2008-12 | 72.6 |
| 2008-11 | 79.3 |
| 2008-10 | 86.9 |
| 2008-09 | 91.6 |
| 2008-08 | 98.2 |
| 2008-07 | 98.8 |
| 2008-06 | 103.6 |
| 2008-05 | 104.3 |
| 2008-04 | 107.6 |
| 2008-03 | 110.3 |
| 2008-02 | 110.6 |
| 2008-01 | 110.7 |
| 2007-12 | 112.8 |
| 2007-11 | 112.6 |
| 2007-10 | 110.3 |
| 2007-09 | 111.0 |
| 2007-08 | 111.4 |
| 2007-07 | 112.0 |
| 2007-06 | 111.7 |
| 2007-05 | 110.5 |
| 2007-04 | 112.3 |
| 2007-03 | 111.7 |
| 2007-02 | 112.1 |
| 2007-01 | 108.5 |
| 2006-12 | 109.4 |
| 2006-11 | 109.8 |
| 2006-10 | 107.4 |
| 2006-09 | 108.4 |
| 2006-08 | 108.8 |
| 2006-07 | 109.3 |
| 2006-06 | 108.8 |
| 2006-05 | 109.2 |
| 2006-04 | 108.0 |
| 2006-03 | 106.6 |
| 2006-02 | 106.8 |
| 2006-01 | 103.2 |
| 2005-12 | 104.1 |
| 2005-11 | 101.0 |
| 2005-10 | 101.1 |
| 2005-09 | 98.8 |
| 2005-08 | 99.5 |
| 2005-07 | 100.0 |
| 2005-06 | 98.9 |
| 2005-05 | 96.8 |
| 2005-04 | 96.5 |
| 2005-03 | 99.4 |
| 2005-02 | 102.9 |
| 2005-01 | 103.1 |
graphiqueBusiness climate in manufacturing - Composite indicator
- Source: INSEE.
tableauIndustrialists’ opinion on manufacturing industry
| Manufacturing industry | Ave.* | Apr-25 | May-25 | Jun-25 | Jul-25 |
|---|---|---|---|---|---|
| Business climate | 100 | 100 | 97 | 97 | 96 |
| Past production | 4 | 2 | 4 | 2 | -1 |
| Finished-goods inventory | 12 | 10 | 8 | 15 | 16 |
| Overall order books | -18 | -18 | -22 | -22 | -20 |
| Foreign order books | -14 | -16 | -16 | -16 | -18 |
| Past workforce size | -8 | -2 | -1 | -2 | -3 |
| Expected workforce size | -9 | -1 | -2 | -2 | -3 |
| Personal production prospects | 6 | 11 | -3 | -3 | -4 |
| General production prospects | -7 | -15 | -13 | -12 | -12 |
| Expected trend in selling prices | 4 | 7 | 7 | 5 | 5 |
| Economic uncertainty felt** | 29 | 29 | 31 | 28 | 30 |
- * 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.
Balances of opinion relating to production (both past and expected) have deteriorated
In July 2025, the balance of opinion on past production has decreased again and has moved away from its long-term average. The one relating to personal production prospects has diminished more slightly and has also moved away from its own. The balance of opinion associated with general production prospects in the industry is stable, below its average. As for the balance of opinion on economic uncertainty felt by business leaders, it has rebounded and returned just above its own.
The balance of opinion associated with the level of foreign order books has decreased anew and has moved away from its average. However, the one relating to global order books has increased and has moved closer to its own.
The balance of opinion on the current level of finished-goods inventories has slightly increased and has deviated from its average.
The balances of opinion on the evolution of workforce size, both past and expected, have diminished ever so slightly, remaining above their average.
The balance of opinion relating to the expected trend in selling prices over the next three months is stable, just above its average.
The share of companies reporting being limited in their production by workforce shortage has slightly decreased and has reached its average, for the first time since the third quarter of 2017, excluding COVID-19 pandemic. The share of those reporting sourcing difficulties as a limiting factor to their production has rebounded and has returned above its own. Overall, the proportion of companies declaring supply-side obstacles only has slightly diminished: at 23%, it remains just above its long-term average. The share of companies reporting obstacles linked to demand only has rebounded marginally: at 26%, it is well below its long-term average.
tableauShare of companies declaring obstacles limiting their production*
| Manufacturing industry | Ave.** | Apr-25 | May-25 | Jun-25 | Jul-25 |
|---|---|---|---|---|---|
| Difficulties of supply and demand | 9 | 9 | 10 | 11 | 11 |
| Sourcing difficulties | 11 | 14 | 15 | 10 | 13 |
| Workforce shortage | 9 | 12 | 10 | 10 | 9 |
| Difficulties of supply only | 22 | 24 | 24 | 24 | 23 |
| Difficulties of demand only | 39 | 27 | 26 | 25 | 26 |
- * 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).
- Source: INSEE – Monthly business survey in industry.
The business climate in the manufacturing of food products and beverages and in the manufacturing of machinery and equipment good has darkened slightly
In July 2025, the business climate indicator in the manufacturing of food products and beverages has fallen back somewhat. At 97, it has moved away from its long-term average (100). This decline mainly comes from the pullback of the balance of opinion on past production.
In the manufacturing of machinery and equipment goods, the synthetic indicator of the business climate has lost one point again and has moved back to its long-term average (100). It has strongly fallen back in the manufacturing of machinery and equipment, mainly due to the sharp fall back in the balance of opinion relating to global order books.
In the manufacturing of transport equipment, the business climate indicator is stable, just above its long-term average (100). It has slightly increased again in the sector of motor vehicles, trailers and semi-trailers, while it has slightly diminished in “other transport equipment”; in both of these sectors, it has moved closer to their respective average. In the sub-sector of motor vehicles, trailers and semi-trailers, the balances of opinion relating to order books (both global and foreign) have risen again and have returned to their average; the one relating to global order books has reached its level of June 2024. Conversely, in “other transport equipment”, balances relating to order books have fallen back, remaining nevertheless above their average.
Finally, the business climate indicator in “other manufacturing” has slightly rebounded. At 95, the indicator has moved closer to its long-term average (100). This increase mainly comes from the increase in the balances of opinion relating to past production and to global order books. At the sub-sector level, the indicator of the business climate has strongly rebounded in “chemicals and chemical products”, mainly because of the rebound in the balance of opinion on global order books, and in “rubber and plastic products”, mainly because of the increase in the one relating to past production.
tableauBusiness climates in a sector-based approach
| (C1) | (C3) | (C4) | (C5) | |
|---|---|---|---|---|
| 2025-07 | 97.4 | 99.8 | 100.7 | 95.2 |
| 2025-06 | 98.3 | 100.6 | 101.0 | 93.8 |
| 2025-05 | 94.2 | 101.7 | 100.4 | 95.1 |
| 2025-04 | 97.0 | 99.1 | 104.8 | 95.0 |
| 2025-03 | 95.7 | 98.7 | 97.2 | 95.1 |
| 2025-02 | 97.7 | 95.9 | 101.8 | 95.0 |
| 2025-01 | 96.7 | 95.1 | 99.0 | 94.5 |
| 2024-12 | 97.4 | 96.7 | 107.8 | 92.8 |
| 2024-11 | 96.5 | 97.0 | 100.8 | 93.5 |
| 2024-10 | 95.5 | 96.3 | 96.1 | 93.3 |
| 2024-09 | 94.7 | 98.1 | 109.8 | 93.3 |
| 2024-08 | 96.5 | 96.1 | 110.9 | 95.1 |
| 2024-07 | 92.0 | 97.5 | 101.3 | 94.7 |
| 2024-06 | 92.9 | 98.7 | 110.6 | 95.4 |
| 2024-05 | 90.5 | 98.9 | 109.6 | 97.3 |
| 2024-04 | 91.8 | 96.8 | 111.6 | 96.1 |
| 2024-03 | 91.2 | 102.1 | 113.0 | 96.8 |
| 2024-02 | 87.2 | 98.3 | 111.6 | 96.8 |
| 2024-01 | 86.6 | 99.9 | 112.8 | 94.2 |
| 2023-12 | 85.8 | 98.7 | 109.3 | 94.8 |
| 2023-11 | 85.3 | 104.0 | 110.0 | 93.7 |
| 2023-10 | 84.6 | 101.6 | 112.6 | 93.9 |
| 2023-09 | 87.6 | 104.5 | 102.4 | 95.2 |
| 2023-08 | 87.2 | 102.6 | 103.2 | 95.3 |
| 2023-07 | 91.6 | 106.7 | 112.9 | 95.1 |
| 2023-06 | 87.7 | 105.3 | 105.7 | 95.0 |
| 2023-05 | 92.5 | 106.0 | 103.9 | 95.6 |
| 2023-04 | 93.5 | 109.6 | 103.5 | 98.2 |
| 2023-03 | 98.4 | 111.6 | 103.8 | 99.2 |
| 2023-02 | 102.0 | 109.7 | 104.7 | 96.8 |
| 2023-01 | 100.8 | 112.1 | 103.4 | 96.6 |
| 2022-12 | 100.0 | 112.1 | 99.7 | 95.5 |
| 2022-11 | 104.2 | 111.3 | 102.4 | 95.4 |
| 2022-10 | 108.8 | 114.3 | 104.5 | 96.2 |
| 2022-09 | 106.9 | 111.6 | 98.2 | 98.2 |
| 2022-08 | 107.1 | 113.3 | 99.8 | 100.0 |
| 2022-07 | 107.0 | 112.8 | 105.9 | 102.2 |
| 2022-06 | 108.4 | 112.1 | 102.2 | 106.1 |
| 2022-05 | 107.1 | 111.9 | 101.7 | 105.7 |
| 2022-04 | 108.9 | 113.2 | 102.2 | 109.4 |
| 2022-03 | 110.7 | 112.2 | 100.2 | 108.4 |
| 2022-02 | 110.9 | 114.7 | 105.0 | 112.0 |
| 2022-01 | 112.4 | 116.6 | 104.9 | 110.8 |
| 2021-12 | 117.6 | 116.4 | 88.4 | 112.0 |
| 2021-11 | 115.2 | 116.8 | 96.2 | 113.6 |
| 2021-10 | 113.8 | 116.1 | 90.0 | 111.1 |
| 2021-09 | 109.3 | 116.3 | 87.9 | 112.8 |
| 2021-08 | 111.0 | 119.9 | 91.9 | 113.6 |
| 2021-07 | 114.1 | 115.0 | 92.0 | 115.3 |
| 2021-06 | 117.6 | 115.1 | 90.3 | 111.1 |
| 2021-05 | 116.2 | 111.8 | 89.9 | 111.2 |
| 2021-04 | 105.4 | 112.6 | 88.9 | 107.9 |
| 2021-03 | 100.8 | 106.2 | 83.3 | 104.5 |
| 2021-02 | 94.5 | 104.9 | 89.9 | 101.5 |
| 2021-01 | 91.8 | 103.6 | 87.5 | 100.5 |
| 2020-12 | 90.5 | 94.7 | 86.7 | 101.5 |
| 2020-11 | 92.8 | 91.1 | 89.3 | 94.6 |
| 2020-10 | 94.8 | 92.9 | 90.7 | 94.9 |
| 2020-09 | 102.3 | 90.1 | 91.1 | 92.5 |
| 2020-08 | 96.4 | 89.8 | 90.2 | 88.0 |
| 2020-07 | 88.0 | 84.7 | 79.4 | 81.4 |
| 2020-06 | 91.8 | 78.6 | 76.2 | 78.5 |
| 2020-05 | 91.6 | 76.8 | 75.6 | 74.3 |
| 2020-04 | 93.1 | 76.6 | 73.6 | 73.0 |
| 2020-03 | 108.5 | 98.3 | 95.7 | 97.5 |
| 2020-02 | 107.8 | 98.9 | 100.8 | 100.3 |
| 2020-01 | 108.3 | 100.1 | 106.7 | 99.3 |
| 2019-12 | 108.9 | 96.8 | 99.5 | 97.7 |
| 2019-11 | 104.3 | 98.3 | 106.6 | 100.9 |
| 2019-10 | 106.4 | 96.2 | 100.6 | 99.1 |
| 2019-09 | 108.1 | 99.9 | 101.5 | 101.7 |
| 2019-08 | 108.3 | 99.3 | 101.3 | 102.2 |
| 2019-07 | 103.0 | 102.8 | 99.4 | 100.8 |
| 2019-06 | 109.4 | 98.2 | 100.8 | 101.1 |
| 2019-05 | 111.0 | 104.3 | 102.7 | 102.8 |
| 2019-04 | 106.9 | 101.0 | 101.9 | 101.2 |
| 2019-03 | 108.0 | 100.5 | 103.1 | 101.7 |
| 2019-02 | 108.0 | 104.3 | 100.4 | 101.2 |
| 2019-01 | 108.1 | 102.8 | 102.6 | 102.1 |
| 2018-12 | 108.9 | 102.3 | 101.9 | 102.4 |
| 2018-11 | 108.7 | 102.2 | 104.0 | 102.6 |
| 2018-10 | 103.2 | 106.6 | 103.3 | 103.0 |
| 2018-09 | 107.6 | 107.9 | 104.7 | 105.2 |
| 2018-08 | 107.5 | 107.4 | 106.0 | 106.3 |
| 2018-07 | 107.5 | 107.8 | 106.1 | 107.1 |
| 2018-06 | 110.0 | 106.9 | 110.2 | 106.0 |
| 2018-05 | 108.3 | 111.2 | 109.0 | 108.4 |
| 2018-04 | 110.0 | 109.3 | 113.6 | 108.1 |
| 2018-03 | 109.3 | 109.5 | 112.3 | 109.7 |
| 2018-02 | 109.9 | 110.2 | 112.6 | 110.2 |
| 2018-01 | 111.1 | 111.8 | 112.7 | 111.2 |
| 2017-12 | 111.9 | 110.9 | 110.3 | 110.8 |
| 2017-11 | 112.0 | 109.9 | 109.1 | 111.0 |
| 2017-10 | 112.4 | 109.3 | 108.0 | 110.7 |
| 2017-09 | 106.8 | 107.8 | 109.6 | 109.0 |
| 2017-08 | 108.5 | 106.1 | 108.3 | 108.8 |
| 2017-07 | 109.6 | 108.4 | 108.4 | 107.5 |
| 2017-06 | 112.1 | 107.7 | 104.9 | 109.0 |
| 2017-05 | 105.9 | 108.6 | 105.4 | 107.5 |
| 2017-04 | 105.3 | 106.6 | 105.8 | 108.4 |
| 2017-03 | 104.2 | 104.2 | 105.3 | 104.9 |
| 2017-02 | 105.4 | 103.5 | 106.1 | 106.3 |
| 2017-01 | 103.7 | 101.9 | 106.3 | 105.6 |
| 2016-12 | 108.7 | 103.1 | 104.5 | 105.0 |
| 2016-11 | 108.1 | 99.5 | 101.7 | 101.6 |
| 2016-10 | 106.9 | 97.3 | 105.8 | 101.3 |
| 2016-09 | 109.4 | 98.5 | 105.2 | 100.5 |
| 2016-08 | 99.6 | 98.3 | 104.2 | 101.5 |
| 2016-07 | 104.8 | 97.5 | 105.4 | 101.8 |
| 2016-06 | 103.4 | 97.2 | 106.0 | 101.6 |
| 2016-05 | 103.6 | 97.1 | 105.7 | 104.0 |
| 2016-04 | 106.2 | 100.0 | 109.3 | 101.4 |
| 2016-03 | 101.8 | 99.2 | 105.8 | 101.3 |
| 2016-02 | 100.3 | 100.9 | 109.3 | 100.0 |
| 2016-01 | 101.7 | 100.8 | 108.2 | 99.6 |
| 2015-12 | 100.2 | 98.1 | 108.1 | 101.8 |
| 2015-11 | 102.7 | 99.7 | 107.7 | 99.6 |
| 2015-10 | 104.5 | 98.1 | 108.3 | 99.9 |
| 2015-09 | 105.7 | 96.0 | 109.4 | 102.7 |
| 2015-08 | 103.4 | 97.3 | 108.7 | 101.6 |
| 2015-07 | 108.6 | 98.4 | 105.0 | 102.9 |
| 2015-06 | 105.2 | 97.1 | 105.4 | 101.0 |
| 2015-05 | 101.9 | 97.3 | 104.8 | 101.7 |
| 2015-04 | 104.9 | 96.7 | 107.1 | 100.7 |
| 2015-03 | 101.0 | 94.3 | 105.2 | 100.2 |
| 2015-02 | 99.7 | 94.9 | 100.3 | 100.3 |
| 2015-01 | 103.4 | 93.2 | 101.2 | 99.8 |
| 2014-12 | 99.4 | 91.9 | 99.3 | 100.3 |
| 2014-11 | 96.2 | 92.0 | 99.9 | 99.8 |
| 2014-10 | 95.7 | 92.5 | 96.9 | 98.5 |
| 2014-09 | 94.4 | 92.0 | 101.1 | 97.3 |
| 2014-08 | 95.9 | 93.3 | 97.5 | 100.7 |
| 2014-07 | 97.4 | 89.0 | 98.2 | 99.2 |
| 2014-06 | 95.7 | 91.6 | 97.3 | 98.6 |
| 2014-05 | 98.3 | 93.6 | 97.3 | 99.5 |
| 2014-04 | 96.0 | 92.8 | 102.3 | 100.3 |
| 2014-03 | 99.9 | 92.8 | 100.4 | 102.5 |
| 2014-02 | 99.3 | 93.7 | 97.9 | 98.3 |
| 2014-01 | 99.5 | 91.0 | 101.6 | 98.7 |
| 2013-12 | 98.2 | 91.9 | 99.2 | 99.2 |
| 2013-11 | 98.3 | 92.0 | 102.1 | 98.7 |
| 2013-10 | 95.6 | 90.1 | 103.4 | 97.7 |
| 2013-09 | 95.0 | 89.8 | 97.2 | 97.2 |
| 2013-08 | 95.6 | 91.3 | 101.0 | 97.1 |
| 2013-07 | 92.6 | 89.4 | 98.4 | 94.9 |
| 2013-06 | 92.8 | 89.0 | 94.3 | 93.2 |
| 2013-05 | 91.5 | 89.2 | 94.7 | 91.7 |
| 2013-04 | 91.6 | 89.4 | 92.5 | 89.1 |
| 2013-03 | 94.0 | 88.7 | 93.2 | 91.2 |
| 2013-02 | 98.0 | 88.7 | 94.4 | 90.1 |
| 2013-01 | 97.7 | 87.8 | 93.2 | 91.2 |
| 2012-12 | 98.8 | 87.3 | 92.3 | 91.8 |
| 2012-11 | 98.3 | 87.2 | 92.9 | 92.2 |
| 2012-10 | 91.0 | 86.1 | 96.2 | 89.3 |
| 2012-09 | 96.9 | 90.9 | 98.0 | 93.6 |
| 2012-08 | 93.9 | 90.2 | 95.2 | 93.5 |
| 2012-07 | 94.6 | 90.8 | 95.8 | 92.2 |
| 2012-06 | 95.1 | 90.9 | 95.6 | 93.6 |
| 2012-05 | 93.3 | 94.9 | 95.1 | 95.9 |
| 2012-04 | 99.2 | 95.6 | 94.5 | 97.8 |
| 2012-03 | 102.8 | 96.4 | 103.4 | 97.1 |
| 2012-02 | 100.7 | 96.2 | 93.5 | 95.9 |
| 2012-01 | 100.0 | 96.2 | 94.6 | 94.1 |
| 2011-12 | 98.7 | 96.0 | 100.0 | 94.5 |
| 2011-11 | 102.2 | 96.0 | 102.8 | 94.2 |
| 2011-10 | 104.6 | 98.3 | 100.2 | 96.4 |
| 2011-09 | 102.0 | 99.5 | 98.2 | 98.2 |
| 2011-08 | 103.7 | 100.3 | 101.7 | 100.4 |
| 2011-07 | 111.8 | 102.4 | 103.4 | 105.1 |
| 2011-06 | 108.7 | 104.1 | 109.3 | 109.1 |
| 2011-05 | 110.0 | 103.1 | 104.9 | 107.9 |
| 2011-04 | 109.2 | 104.5 | 105.8 | 110.2 |
| 2011-03 | 106.9 | 106.4 | 106.2 | 109.9 |
| 2011-02 | 107.4 | 101.6 | 98.3 | 108.6 |
| 2011-01 | 109.1 | 103.8 | 104.8 | 105.3 |
graphiqueBusiness 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.
tableauBusiness climates in a sector-based approach
| NA* : (A17) and [A38 and A64] | Weights** (%) | May-25 | Jun-25 | Jul-25 |
|---|---|---|---|---|
| (C1) Man. of food products and beverages | 20 | 94 | 98 | 97 |
| (C3) Machinery and equipment goods | 11 | 102 | 101 | 100 |
| [CI] Computer, electronic and optical products | 4 | 110 | 107 | 109 |
| [CJ] Electrical equipment | 3 | 99 | 98 | 98 |
| [CK] Machinery and equipment | 5 | 96 | 97 | 94 |
| (C4) Man. of transport equipment | 19 | 100 | 101 | 101 |
| [CL1] Motor vehicles, trailers and semi-trailers | 9 | 96 | 97 | 98 |
| [CL2] Other transport equipment | 10 | 104 | 104 | 102 |
| (C5) Other manufacturing | 45 | 95 | 94 | 95 |
| [CB] Textiles, clothing industries, leather and footwear industry | 2 | 99 | 95 | 97 |
| [CC] Wood, paper, printing | 4 | 96 | 96 | 96 |
| [CE] Chemicals and chemical products | 8 | 92 | 91 | 95 |
| [CG] Rubber and plastic products | 7 | 90 | 89 | 93 |
| [CH] Basic metals and fabricated metal products | 11 | 92 | 92 | 92 |
| [CM] Other manufacturing industries / Manufacture of other industrial products | 10 | 100 | 102 | 100 |
- * 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 June 2025 has been revised upwards by one point (after rounding). This revision is due to the inclusion of late responses from companies and to the update of seasonal coefficients and parameters of synthetic indicators.
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 25 June 2025 and 21 July 2025; most companies answer during the first two weeks of collection.
Next issue: 22 August 2025 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 25 June 2025 and 21 July 2025; most companies answer during the first two weeks of collection.
Next issue: 22 August 2025 at 8:45 am.