Informations Rapides ·
24 September 2026 · n° 234
In September 2026, the business climate in manufacturing industry is stable Monthly business survey (goods-producing industries) - September 2026
In September 2026, the business climate is stable in manufacturing industry. At 101, the synthetic indicator remains one point above its long-term average (100). Balances of opinion relating to production, both past and expected, have increased, while the opinion of business managers regarding the evolution of global order books has deteriorated.
In September 2026, the business climate is stable in manufacturing industry. At 101, the synthetic indicator remains one point above its long-term average (100). Balances of opinion relating to production, both past and expected, have increased, while the opinion of business managers regarding the evolution of global order books has deteriorated.
tableauBusiness climate in manufacturing - Composite indicator
| Business climate in manufacturing - Composite indicator | |
|---|---|
| 2026-09 | 101.4 |
| 2026-08 | 101.2 |
| 2026-07 | 101.1 |
| 2026-06 | 100.2 |
| 2026-05 | 102.2 |
| 2026-04 | 100.2 |
| 2026-03 | 99.8 |
| 2026-02 | 101.8 |
| 2026-01 | 105.0 |
| 2025-12 | 101.9 |
| 2025-11 | 98.2 |
| 2025-10 | 100.8 |
| 2025-09 | 96.9 |
| 2025-08 | 97.6 |
| 2025-07 | 96.0 |
| 2025-06 | 96.6 |
| 2025-05 | 97.1 |
| 2025-04 | 99.9 |
| 2025-03 | 96.8 |
| 2025-02 | 97.5 |
| 2025-01 | 95.6 |
| 2024-12 | 96.5 |
| 2024-11 | 96.3 |
| 2024-10 | 92.5 |
| 2024-09 | 98.5 |
| 2024-08 | 99.9 |
| 2024-07 | 96.1 |
| 2024-06 | 99.7 |
| 2024-05 | 99.8 |
| 2024-04 | 100.2 |
| 2024-03 | 102.9 |
| 2024-02 | 101.2 |
| 2024-01 | 99.3 |
| 2023-12 | 98.8 |
| 2023-11 | 99.0 |
| 2023-10 | 98.9 |
| 2023-09 | 97.9 |
| 2023-08 | 97.3 |
| 2023-07 | 101.5 |
| 2023-06 | 101.0 |
| 2023-05 | 99.3 |
| 2023-04 | 100.9 |
| 2023-03 | 103.6 |
| 2023-02 | 103.5 |
| 2023-01 | 102.6 |
| 2022-12 | 101.0 |
| 2022-11 | 101.6 |
| 2022-10 | 103.4 |
| 2022-09 | 101.7 |
| 2022-08 | 103.9 |
| 2022-07 | 106.0 |
| 2022-06 | 108.7 |
| 2022-05 | 107.4 |
| 2022-04 | 108.4 |
| 2022-03 | 107.8 |
| 2022-02 | 111.9 |
| 2022-01 | 112.8 |
| 2021-12 | 108.5 |
| 2021-11 | 110.2 |
| 2021-10 | 107.5 |
| 2021-09 | 106.4 |
| 2021-08 | 109.3 |
| 2021-07 | 109.3 |
| 2021-06 | 108.2 |
| 2021-05 | 107.3 |
| 2021-04 | 103.4 |
| 2021-03 | 98.0 |
| 2021-02 | 97.0 |
| 2021-01 | 95.5 |
| 2020-12 | 93.7 |
| 2020-11 | 91.3 |
| 2020-10 | 93.3 |
| 2020-09 | 93.0 |
| 2020-08 | 90.4 |
| 2020-07 | 80.6 |
| 2020-06 | 77.1 |
| 2020-05 | 70.4 |
| 2020-04 | 67.0 |
| 2020-03 | 97.7 |
| 2020-02 | 101.0 |
| 2020-01 | 102.8 |
| 2019-12 | 99.0 |
| 2019-11 | 102.5 |
| 2019-10 | 99.9 |
| 2019-09 | 102.0 |
| 2019-08 | 102.3 |
| 2019-07 | 101.0 |
| 2019-06 | 102.5 |
| 2019-05 | 104.1 |
| 2019-04 | 101.7 |
| 2019-03 | 103.7 |
| 2019-02 | 103.2 |
| 2019-01 | 103.3 |
| 2018-12 | 103.5 |
| 2018-11 | 105.2 |
| 2018-10 | 104.5 |
| 2018-09 | 107.6 |
| 2018-08 | 108.8 |
| 2018-07 | 108.7 |
| 2018-06 | 110.2 |
| 2018-05 | 110.3 |
| 2018-04 | 111.3 |
| 2018-03 | 111.1 |
| 2018-02 | 112.8 |
| 2018-01 | 113.9 |
| 2017-12 | 112.2 |
| 2017-11 | 111.8 |
| 2017-10 | 111.7 |
| 2017-09 | 111.4 |
| 2017-08 | 110.3 |
| 2017-07 | 108.9 |
| 2017-06 | 109.6 |
| 2017-05 | 108.7 |
| 2017-04 | 108.9 |
| 2017-03 | 105.7 |
| 2017-02 | 106.8 |
| 2017-01 | 105.9 |
| 2016-12 | 105.8 |
| 2016-11 | 102.2 |
| 2016-10 | 102.3 |
| 2016-09 | 103.5 |
| 2016-08 | 101.7 |
| 2016-07 | 101.9 |
| 2016-06 | 101.8 |
| 2016-05 | 104.3 |
| 2016-04 | 104.9 |
| 2016-03 | 102.8 |
| 2016-02 | 103.2 |
| 2016-01 | 103.1 |
| 2015-12 | 102.9 |
| 2015-11 | 102.3 |
| 2015-10 | 103.2 |
| 2015-09 | 104.6 |
| 2015-08 | 103.7 |
| 2015-07 | 101.5 |
| 2015-06 | 100.1 |
| 2015-05 | 101.5 |
| 2015-04 | 101.5 |
| 2015-03 | 99.1 |
| 2015-02 | 98.2 |
| 2015-01 | 98.6 |
| 2014-12 | 98.6 |
| 2014-11 | 98.8 |
| 2014-10 | 97.3 |
| 2014-09 | 96.8 |
| 2014-08 | 96.5 |
| 2014-07 | 96.1 |
| 2014-06 | 96.1 |
| 2014-05 | 98.0 |
| 2014-04 | 100.2 |
| 2014-03 | 100.6 |
| 2014-02 | 98.1 |
| 2014-01 | 99.5 |
| 2013-12 | 99.0 |
| 2013-11 | 97.8 |
| 2013-10 | 97.6 |
| 2013-09 | 95.7 |
| 2013-08 | 98.2 |
| 2013-07 | 94.5 |
| 2013-06 | 92.4 |
| 2013-05 | 91.7 |
| 2013-04 | 87.1 |
| 2013-03 | 90.2 |
| 2013-02 | 90.3 |
| 2013-01 | 89.7 |
| 2012-12 | 90.5 |
| 2012-11 | 91.5 |
| 2012-10 | 86.7 |
| 2012-09 | 92.7 |
| 2012-08 | 92.7 |
| 2012-07 | 91.0 |
| 2012-06 | 93.0 |
| 2012-05 | 94.6 |
| 2012-04 | 95.5 |
| 2012-03 | 96.5 |
| 2012-02 | 94.9 |
| 2012-01 | 94.6 |
| 2011-12 | 94.6 |
| 2011-11 | 97.7 |
| 2011-10 | 97.4 |
| 2011-09 | 99.1 |
| 2011-08 | 101.3 |
| 2011-07 | 104.8 |
| 2011-06 | 109.8 |
| 2011-05 | 107.2 |
| 2011-04 | 110.2 |
| 2011-03 | 110.2 |
| 2011-02 | 106.4 |
| 2011-01 | 108.5 |
| 2010-12 | 103.9 |
| 2010-11 | 101.3 |
| 2010-10 | 103.4 |
| 2010-09 | 102.3 |
| 2010-08 | 99.5 |
| 2010-07 | 96.5 |
| 2010-06 | 94.7 |
| 2010-05 | 95.3 |
| 2010-04 | 93.7 |
| 2010-03 | 89.9 |
| 2010-02 | 87.3 |
| 2010-01 | 88.7 |
| 2009-12 | 85.8 |
| 2009-11 | 85.8 |
| 2009-10 | 83.7 |
| 2009-09 | 82.4 |
| 2009-08 | 79.5 |
| 2009-07 | 75.1 |
| 2009-06 | 73.3 |
| 2009-05 | 71.2 |
| 2009-04 | 69.8 |
| 2009-03 | 65.7 |
| 2009-02 | 67.9 |
| 2009-01 | 72.2 |
| 2008-12 | 72.4 |
| 2008-11 | 79.3 |
| 2008-10 | 87.0 |
| 2008-09 | 91.7 |
| 2008-08 | 98.3 |
| 2008-07 | 98.9 |
| 2008-06 | 103.7 |
| 2008-05 | 104.4 |
| 2008-04 | 107.7 |
| 2008-03 | 110.4 |
| 2008-02 | 110.7 |
| 2008-01 | 110.8 |
| 2007-12 | 112.9 |
| 2007-11 | 112.7 |
| 2007-10 | 110.4 |
| 2007-09 | 111.2 |
| 2007-08 | 111.6 |
| 2007-07 | 112.2 |
| 2007-06 | 111.9 |
| 2007-05 | 110.7 |
| 2007-04 | 112.5 |
| 2007-03 | 111.9 |
| 2007-02 | 112.2 |
| 2007-01 | 108.5 |
| 2006-12 | 109.4 |
| 2006-11 | 109.9 |
| 2006-10 | 107.5 |
| 2006-09 | 108.5 |
| 2006-08 | 109.0 |
| 2006-07 | 109.5 |
| 2006-06 | 108.9 |
| 2006-05 | 109.3 |
| 2006-04 | 108.1 |
| 2006-03 | 106.6 |
| 2006-02 | 106.8 |
| 2006-01 | 103.3 |
graphiqueBusiness climate in manufacturing - Composite indicator
- Source: INSEE – monthly business tendency survey in industry.
tableauIndustrialists’ opinion on manufacturing industry
| Manufacturing industry | Ave.* | Jun-26 | Jul-26 | Aug-26 | Sep-26 |
|---|---|---|---|---|---|
| Business climate | 100 | 100 | 101 | 101 | 101 |
| Past production | 4 | 3 | 7 | -4 | 0 |
| Finished-goods inventory | 12 | 16 | 11 | 6 | 13 |
| Overall order books | -18 | -14 | -12 | -14 | -16 |
| Foreign order books | -14 | -12 | -12 | -12 | -12 |
| Past workforce size | -8 | -1 | 0 | -1 | -4 |
| Expected workforce size | -9 | 0 | -3 | 2 | -1 |
| Personal production prospects | 6 | 3 | -1 | 12 | 15 |
| General production prospects | -8 | -15 | -11 | -10 | -9 |
| Expected trend in selling prices | 4 | 20 | 9 | 10 | 14 |
| Economic uncertainty felt** | 29 | 31 | 30 | 32 | 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 regarding the evolution of production, both past and expected, have improved
In September 2026, the balance of opinion regarding personal production prospects has risen again and has moved away from its long-term average. The balance relating to change in past production has rebounded but remains below its average. The balance associated to general production prospects in the industry has increased for the fifth consecutive month and stands just below its own. As for the balance on economic uncertainty felt by business leaders, it is stable, slightly above its average.
The balance of opinion regarding the level of overall order books has fallen again, while the one relating to the level of foreign order books is stable for the third consecutive month. Both balances stand slightly above their respective average.
The balance of opinion on the current level of finished goods inventories has rebounded sharply and has returned just above its average.
The balances of opinion relating to the evolution workforce size, both past and expected, have declined. They remain above their respective average.
The balance of opinion associated with the expected trend in selling prices over the next three months has risen again, standing well above its average. This increase concerns all sub-sectors and is particularly marked in the manufacturing of food products and beverages.
The proportion of firms reporting being limited in their production due to workforce shortage has fallen back slightly, standing just above its average. The share of those reporting sourcing difficulties is stable, well above its average.
Overall, the proportion of companies declaring supply-side obstacles has decreased: at 30%, it remains however well above its average. The proportion of companies reporting obstacles linked to demand only, meanwhile, is stable: at 23%, it remains well below its average.
Finally, the share of firms reporting obstacles linked both to supply and demand is also stable, at its long-term average.
tableauExpected trend in selling prices
| Expected trend in selling prices | |
|---|---|
| 2026-09 | 14.1 |
| 2026-08 | 10.3 |
| 2026-07 | 8.8 |
| 2026-06 | 20.1 |
| 2026-05 | 21.4 |
| 2026-04 | 18.2 |
| 2026-03 | 9.1 |
| 2026-02 | 4.4 |
| 2026-01 | 1.9 |
| 2025-12 | 2.5 |
| 2025-11 | 3.3 |
| 2025-10 | 4.2 |
| 2025-09 | 2.6 |
| 2025-08 | 3.3 |
| 2025-07 | 5.5 |
| 2025-06 | 5.4 |
| 2025-05 | 6.2 |
| 2025-04 | 5.2 |
| 2025-03 | 7.1 |
| 2025-02 | 7.9 |
| 2025-01 | 10.3 |
| 2024-12 | 4.3 |
| 2024-11 | 4.3 |
| 2024-10 | 5.3 |
| 2024-09 | 0.5 |
| 2024-08 | 2.3 |
| 2024-07 | 3.5 |
| 2024-06 | 3.2 |
| 2024-05 | 1.8 |
| 2024-04 | 3.1 |
| 2024-03 | -0.3 |
| 2024-02 | 0.5 |
| 2024-01 | 0.9 |
| 2023-12 | -1.8 |
| 2023-11 | -0.8 |
| 2023-10 | -2.8 |
| 2023-09 | 3.0 |
| 2023-08 | 2.6 |
| 2023-07 | 5.5 |
| 2023-06 | 3.6 |
| 2023-05 | 1.5 |
| 2023-04 | 12.7 |
| 2023-03 | 26.0 |
| 2023-02 | 28.2 |
| 2023-01 | 34.4 |
| 2022-12 | 44.2 |
| 2022-11 | 38.0 |
| 2022-10 | 33.5 |
| 2022-09 | 38.6 |
| 2022-08 | 42.3 |
| 2022-07 | 36.7 |
| 2022-06 | 52.0 |
| 2022-05 | 53.4 |
| 2022-04 | 45.4 |
| 2022-03 | 51.9 |
| 2022-02 | 44.3 |
| 2022-01 | 34.1 |
| 2021-12 | 47.4 |
| 2021-11 | 46.8 |
| 2021-10 | 29.7 |
| 2021-09 | 28.4 |
| 2021-08 | 28.2 |
| 2021-07 | 26.1 |
| 2021-06 | 29.0 |
| 2021-05 | 23.4 |
| 2021-04 | 18.7 |
| 2021-03 | 15.4 |
| 2021-02 | 12.5 |
| 2021-01 | 2.9 |
| 2020-12 | 6.2 |
| 2020-11 | 5.5 |
| 2020-10 | 5.9 |
| 2020-09 | -3.3 |
| 2020-08 | -0.8 |
| 2020-07 | 0.1 |
| 2020-06 | -2.8 |
| 2020-05 | -8.0 |
| 2020-04 | -6.5 |
| 2020-03 | 0.3 |
| 2020-02 | 0.6 |
| 2020-01 | 3.3 |
| 2019-12 | -0.8 |
| 2019-11 | -1.2 |
| 2019-10 | 2.1 |
| 2019-09 | 3.4 |
| 2019-08 | 3.2 |
| 2019-07 | -0.5 |
| 2019-06 | 1.3 |
| 2019-05 | 7.8 |
| 2019-04 | 11.0 |
| 2019-03 | 3.0 |
| 2019-02 | 8.5 |
| 2019-01 | 8.2 |
| 2018-12 | 3.5 |
| 2018-11 | 11.1 |
| 2018-10 | 10.3 |
| 2018-09 | 8.0 |
| 2018-08 | 8.1 |
| 2018-07 | 5.3 |
| 2018-06 | 8.4 |
| 2018-05 | 10.7 |
| 2018-04 | 5.6 |
| 2018-03 | 10.2 |
| 2018-02 | 9.9 |
| 2018-01 | 8.7 |
| 2017-12 | 7.2 |
| 2017-11 | 10.8 |
| 2017-10 | 3.6 |
| 2017-09 | 9.7 |
| 2017-08 | 3.7 |
| 2017-07 | 4.8 |
| 2017-06 | 4.5 |
| 2017-05 | 5.6 |
| 2017-04 | 5.0 |
| 2017-03 | 0.7 |
| 2017-02 | 4.1 |
| 2017-01 | 3.0 |
| 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 | -6.8 |
| 2015-05 | -2.3 |
| 2015-04 | -10.2 |
| 2015-03 | -20.0 |
| 2015-02 | -20.8 |
| 2015-01 | -18.7 |
| 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 |
graphiqueExpected trend in selling prices
- Source: INSEE – monthly business tendency survey in industry.
tableauShare of companies declaring obstacles limiting their production*
| Manufacturing industry | Ave.** | Jun-26 | Jul-26 | Aug-26 | Sep-26 |
|---|---|---|---|---|---|
| Difficulties of supply and demand | 9 | 9 | 8 | 9 | 9 |
| Sourcing difficulties | 11 | 19 | 23 | 21 | 21 |
| Workforce shortage | 9 | 10 | 9 | 11 | 10 |
| Difficulties of supply only | 22 | 27 | 32 | 32 | 30 |
| Difficulties of demand only | 39 | 23 | 23 | 23 | 23 |
- * 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 has darkened in the main sub-sectors, except for the manufacturing of transport equipment
In September 2026, the business climate indicator for the manufacturing of food products and beverages has fallen slightly. At 97, it stands below its long-term average (100). The balance of opinion regarding the level of overall order books has fallen back and has returned below its average, while the one relating to foreign order books has risen sharply, moving above its own. The balance of opinion on past production has decreased for the fourth consecutive month and is now well below its long-term average. The balance of opinion on personal production prospects for the sector has rebounded and has moved closer to its long-term average.
In the manufacturing of machinery and equipment goods, the synthetic business climate indicator has decreased slightly again, mainly due to a decline in the balances of opinion relating to overall order books. At 103, the business climate is moving closer to its long-term average (100). The indicator has fallen back slightly in the manufacturing of electrical equipment and in the manufacturing of machinery and equipment, while it has rebounded in the manufacture of computers, electronic and optical products.
In the manufacturing of transport equipment, the business climate indicator has rebounded, driven by the increase in the balances relating to past production and overall order books. At 103, the climate has moved away from its long-term average (100). It has increased in the sub-sector of “motor vehicles, trailers and semi-trailers”, where it has returned above its average, and remains stable above its own in the manufacturing of other transport equipment.
Finally, the business climate indicator in “other manufacturing” has fallen back, mainly due to the fall in the balances of opinion regulating to past production and order books, both foreign and global. At 99, it has returned just below its long-term average (100). Business climate has declined, particularly in energy-intensive sub-sectors such as “chemicals and chemical products” and “other manufacturing industries”.
tableauBusiness climates in a sector-based approach
| C1: Manufacture of food products and beverages | C3: Machinery and equipment goods | C4: Manufacture of transport equipment | C5: Other manufacturing | |
|---|---|---|---|---|
| 2026-09 | 96.5 | 103.2 | 102.9 | 98.5 |
| 2026-08 | 97.7 | 103.9 | 101.5 | 101.0 |
| 2026-07 | 98.1 | 106.4 | 103.4 | 98.7 |
| 2026-06 | 95.8 | 103.8 | 101.5 | 99.1 |
| 2026-05 | 99.0 | 104.3 | 102.5 | 101.4 |
| 2026-04 | 97.2 | 103.7 | 101.6 | 98.6 |
| 2026-03 | 95.2 | 102.2 | 101.9 | 99.0 |
| 2026-02 | 93.5 | 100.8 | 109.3 | 97.9 |
| 2026-01 | 95.0 | 99.1 | 111.6 | 100.1 |
| 2025-12 | 93.4 | 105.0 | 109.1 | 96.3 |
| 2025-11 | 94.4 | 103.3 | 100.1 | 96.7 |
| 2025-10 | 91.3 | 105.3 | 110.5 | 96.0 |
| 2025-09 | 96.9 | 101.5 | 99.3 | 95.3 |
| 2025-08 | 94.2 | 97.5 | 103.8 | 95.6 |
| 2025-07 | 97.5 | 99.2 | 100.8 | 94.3 |
| 2025-06 | 97.3 | 100.4 | 101.1 | 93.9 |
| 2025-05 | 94.5 | 101.4 | 100.2 | 95.2 |
| 2025-04 | 97.0 | 99.0 | 104.5 | 95.0 |
| 2025-03 | 96.2 | 99.0 | 97.0 | 95.0 |
| 2025-02 | 98.6 | 96.1 | 101.7 | 94.9 |
| 2025-01 | 96.6 | 95.2 | 98.6 | 94.2 |
| 2024-12 | 97.8 | 96.6 | 107.7 | 92.7 |
| 2024-11 | 96.2 | 96.9 | 100.8 | 93.5 |
| 2024-10 | 95.9 | 95.7 | 96.1 | 93.3 |
| 2024-09 | 94.4 | 97.7 | 110.0 | 93.4 |
| 2024-08 | 97.7 | 96.0 | 111.2 | 95.2 |
| 2024-07 | 91.4 | 97.6 | 101.2 | 94.7 |
| 2024-06 | 92.1 | 98.6 | 110.8 | 95.6 |
| 2024-05 | 90.8 | 98.8 | 109.5 | 97.3 |
| 2024-04 | 91.6 | 96.7 | 111.5 | 96.1 |
| 2024-03 | 91.6 | 102.3 | 113.1 | 96.7 |
| 2024-02 | 87.7 | 98.4 | 111.6 | 96.7 |
| 2024-01 | 86.5 | 100.0 | 112.8 | 94.0 |
| 2023-12 | 86.0 | 98.6 | 109.1 | 94.8 |
| 2023-11 | 84.9 | 104.0 | 110.2 | 93.8 |
| 2023-10 | 84.6 | 101.1 | 112.7 | 93.9 |
| 2023-09 | 87.5 | 104.2 | 102.4 | 95.2 |
| 2023-08 | 87.9 | 102.6 | 103.4 | 95.3 |
| 2023-07 | 91.1 | 107.0 | 112.9 | 95.1 |
| 2023-06 | 86.9 | 105.5 | 105.7 | 95.2 |
| 2023-05 | 92.8 | 106.0 | 103.6 | 95.5 |
| 2023-04 | 93.2 | 109.7 | 103.3 | 98.1 |
| 2023-03 | 98.8 | 111.7 | 103.7 | 99.2 |
| 2023-02 | 102.5 | 109.8 | 104.5 | 96.8 |
| 2023-01 | 101.1 | 112.3 | 103.1 | 96.5 |
| 2022-12 | 100.4 | 112.2 | 99.4 | 95.5 |
| 2022-11 | 104.1 | 111.3 | 102.4 | 95.5 |
| 2022-10 | 109.1 | 114.2 | 104.4 | 96.2 |
| 2022-09 | 107.3 | 111.4 | 98.0 | 98.2 |
| 2022-08 | 107.8 | 113.5 | 99.8 | 100.1 |
| 2022-07 | 106.9 | 113.3 | 105.7 | 102.3 |
| 2022-06 | 108.0 | 112.6 | 102.2 | 106.5 |
| 2022-05 | 107.5 | 112.1 | 101.4 | 105.7 |
| 2022-04 | 108.7 | 113.4 | 102.1 | 109.5 |
| 2022-03 | 111.2 | 112.2 | 100.0 | 108.5 |
| 2022-02 | 111.4 | 114.8 | 104.9 | 112.3 |
| 2022-01 | 112.9 | 116.8 | 104.6 | 111.0 |
| 2021-12 | 118.2 | 116.5 | 87.8 | 112.2 |
| 2021-11 | 115.3 | 117.0 | 96.1 | 114.0 |
| 2021-10 | 114.2 | 116.1 | 89.8 | 111.3 |
| 2021-09 | 109.8 | 116.1 | 87.6 | 113.1 |
| 2021-08 | 111.6 | 120.1 | 91.7 | 113.8 |
| 2021-07 | 114.2 | 115.5 | 91.6 | 115.6 |
| 2021-06 | 117.4 | 115.5 | 90.2 | 111.7 |
| 2021-05 | 116.6 | 112.0 | 89.4 | 111.2 |
| 2021-04 | 105.1 | 112.6 | 88.5 | 107.9 |
| 2021-03 | 101.2 | 105.9 | 82.9 | 104.5 |
| 2021-02 | 95.0 | 104.6 | 89.7 | 101.8 |
| 2021-01 | 92.1 | 103.4 | 87.0 | 100.6 |
| 2020-12 | 91.0 | 94.4 | 86.3 | 101.6 |
| 2020-11 | 92.7 | 90.8 | 89.1 | 94.7 |
| 2020-10 | 95.0 | 92.5 | 90.6 | 94.9 |
| 2020-09 | 102.7 | 89.5 | 90.8 | 92.4 |
| 2020-08 | 96.7 | 89.5 | 90.0 | 87.9 |
| 2020-07 | 87.9 | 84.7 | 78.9 | 81.1 |
| 2020-06 | 91.4 | 78.5 | 75.9 | 78.6 |
| 2020-05 | 91.6 | 76.7 | 75.1 | 73.7 |
| 2020-04 | 92.8 | 76.3 | 73.3 | 72.6 |
| 2020-03 | 108.9 | 98.0 | 95.5 | 97.4 |
| 2020-02 | 108.5 | 98.5 | 100.8 | 100.6 |
| 2020-01 | 108.8 | 99.9 | 106.6 | 99.3 |
| 2019-12 | 109.6 | 96.6 | 99.3 | 97.7 |
| 2019-11 | 104.4 | 98.0 | 106.7 | 101.0 |
| 2019-10 | 106.5 | 96.1 | 100.7 | 99.1 |
| 2019-09 | 108.4 | 99.6 | 101.5 | 101.7 |
| 2019-08 | 108.7 | 99.3 | 101.3 | 102.2 |
| 2019-07 | 103.0 | 103.1 | 99.1 | 100.8 |
| 2019-06 | 109.3 | 98.5 | 100.8 | 101.5 |
| 2019-05 | 111.1 | 104.5 | 102.5 | 102.8 |
| 2019-04 | 106.7 | 100.9 | 101.8 | 101.1 |
| 2019-03 | 108.3 | 100.1 | 103.1 | 101.7 |
| 2019-02 | 108.7 | 104.0 | 100.2 | 101.5 |
| 2019-01 | 108.5 | 102.6 | 102.3 | 102.1 |
| 2018-12 | 109.5 | 102.3 | 101.6 | 102.4 |
| 2018-11 | 108.9 | 102.0 | 103.9 | 102.8 |
| 2018-10 | 103.2 | 106.6 | 103.3 | 103.0 |
| 2018-09 | 107.9 | 107.7 | 104.7 | 105.4 |
| 2018-08 | 107.9 | 107.5 | 106.0 | 106.3 |
| 2018-07 | 107.6 | 108.0 | 105.9 | 107.2 |
| 2018-06 | 109.9 | 107.2 | 110.3 | 106.5 |
| 2018-05 | 108.4 | 111.4 | 108.9 | 108.4 |
| 2018-04 | 110.0 | 109.3 | 113.7 | 108.2 |
| 2018-03 | 109.5 | 109.2 | 112.4 | 110.0 |
| 2018-02 | 110.5 | 109.9 | 112.6 | 110.6 |
| 2018-01 | 111.5 | 111.8 | 112.6 | 111.4 |
| 2017-12 | 112.5 | 110.9 | 110.1 | 111.0 |
| 2017-11 | 112.3 | 109.8 | 109.0 | 111.4 |
| 2017-10 | 112.5 | 109.4 | 108.1 | 110.9 |
| 2017-09 | 107.1 | 107.7 | 109.7 | 109.3 |
| 2017-08 | 108.8 | 106.2 | 108.3 | 108.9 |
| 2017-07 | 109.8 | 108.5 | 108.3 | 107.7 |
| 2017-06 | 112.2 | 108.0 | 104.8 | 109.4 |
| 2017-05 | 106.0 | 108.8 | 105.2 | 107.5 |
| 2017-04 | 105.4 | 106.7 | 105.7 | 108.5 |
| 2017-03 | 104.4 | 103.8 | 105.2 | 105.1 |
| 2017-02 | 105.8 | 103.2 | 106.0 | 106.6 |
| 2017-01 | 104.0 | 101.8 | 106.0 | 105.7 |
| 2016-12 | 109.0 | 103.1 | 104.4 | 105.2 |
| 2016-11 | 108.3 | 99.4 | 101.5 | 101.7 |
| 2016-10 | 107.1 | 97.2 | 105.8 | 101.4 |
| 2016-09 | 109.7 | 98.4 | 105.1 | 100.6 |
| 2016-08 | 99.7 | 98.2 | 104.1 | 101.6 |
| 2016-07 | 105.0 | 97.4 | 105.4 | 101.9 |
| 2016-06 | 103.5 | 97.1 | 106.0 | 101.7 |
| 2016-05 | 103.8 | 97.0 | 105.6 | 104.1 |
| 2016-04 | 106.4 | 99.9 | 109.2 | 101.5 |
| 2016-03 | 101.9 | 99.1 | 105.7 | 101.3 |
| 2016-02 | 100.5 | 100.8 | 109.3 | 100.0 |
| 2016-01 | 101.9 | 100.7 | 108.2 | 99.6 |
| 2015-12 | 100.3 | 98.0 | 108.1 | 101.9 |
| 2015-11 | 102.9 | 99.7 | 107.7 | 99.6 |
| 2015-10 | 104.7 | 98.0 | 108.3 | 100.0 |
| 2015-09 | 105.9 | 95.8 | 109.4 | 102.8 |
| 2015-08 | 103.5 | 97.1 | 108.8 | 101.6 |
| 2015-07 | 108.9 | 98.3 | 104.9 | 103.0 |
| 2015-06 | 105.5 | 97.0 | 105.3 | 101.0 |
| 2015-05 | 102.0 | 97.1 | 104.7 | 101.7 |
| 2015-04 | 105.1 | 96.5 | 107.0 | 100.8 |
| 2015-03 | 101.2 | 94.1 | 105.1 | 100.3 |
| 2015-02 | 99.9 | 94.7 | 100.1 | 100.4 |
| 2015-01 | 103.6 | 93.0 | 101.0 | 99.9 |
| 2014-12 | 99.6 | 91.7 | 99.1 | 100.3 |
| 2014-11 | 96.3 | 91.7 | 99.7 | 99.9 |
| 2014-10 | 95.8 | 92.3 | 96.7 | 98.6 |
| 2014-09 | 94.5 | 91.8 | 101.0 | 97.3 |
| 2014-08 | 96.0 | 93.2 | 97.3 | 100.7 |
| 2014-07 | 97.5 | 88.7 | 97.9 | 99.2 |
| 2014-06 | 95.8 | 91.4 | 97.0 | 98.6 |
| 2014-05 | 98.5 | 93.4 | 97.0 | 99.6 |
| 2014-04 | 96.1 | 92.6 | 102.1 | 100.3 |
| 2014-03 | 100.0 | 92.6 | 100.2 | 102.6 |
| 2014-02 | 99.5 | 93.5 | 97.8 | 98.4 |
| 2014-01 | 99.6 | 90.8 | 101.3 | 98.8 |
| 2013-12 | 98.4 | 91.7 | 98.9 | 99.3 |
| 2013-11 | 98.4 | 91.7 | 102.0 | 98.8 |
| 2013-10 | 95.7 | 89.8 | 103.3 | 97.7 |
| 2013-09 | 95.1 | 89.5 | 96.9 | 97.2 |
| 2013-08 | 95.7 | 91.1 | 100.8 | 97.1 |
| 2013-07 | 92.6 | 89.1 | 98.2 | 94.9 |
| 2013-06 | 92.8 | 88.8 | 94.0 | 93.1 |
| 2013-05 | 91.5 | 88.9 | 94.5 | 91.7 |
| 2013-04 | 91.7 | 89.1 | 92.3 | 88.9 |
| 2013-03 | 94.0 | 88.5 | 92.9 | 91.1 |
| 2013-02 | 98.1 | 88.5 | 94.2 | 90.0 |
| 2013-01 | 97.8 | 87.6 | 93.1 | 91.1 |
| 2012-12 | 98.9 | 87.1 | 92.1 | 91.7 |
| 2012-11 | 98.4 | 86.9 | 92.7 | 92.1 |
| 2012-10 | 91.0 | 85.9 | 96.2 | 89.2 |
| 2012-09 | 97.0 | 90.7 | 98.0 | 93.6 |
| 2012-08 | 94.0 | 89.9 | 95.1 | 93.4 |
| 2012-07 | 94.7 | 90.6 | 95.7 | 92.2 |
| 2012-06 | 95.2 | 90.6 | 95.4 | 93.6 |
| 2012-05 | 93.4 | 94.8 | 95.0 | 95.9 |
| 2012-04 | 99.4 | 95.4 | 94.4 | 97.8 |
| 2012-03 | 102.9 | 96.3 | 103.4 | 97.2 |
| 2012-02 | 100.8 | 96.1 | 93.3 | 95.9 |
| 2012-01 | 100.1 | 96.1 | 94.4 | 94.0 |
| 2011-12 | 98.8 | 95.9 | 99.8 | 94.5 |
| 2011-11 | 102.4 | 95.9 | 102.8 | 94.1 |
| 2011-10 | 104.8 | 98.3 | 100.1 | 96.4 |
| 2011-09 | 102.2 | 99.4 | 98.0 | 98.2 |
| 2011-08 | 103.9 | 100.2 | 101.6 | 100.5 |
| 2011-07 | 112.0 | 102.3 | 103.2 | 105.2 |
| 2011-06 | 109.0 | 104.0 | 109.2 | 109.3 |
| 2011-05 | 110.3 | 103.0 | 104.7 | 108.0 |
| 2011-04 | 109.5 | 104.5 | 105.7 | 110.4 |
| 2011-03 | 107.1 | 106.3 | 106.1 | 110.2 |
| 2011-02 | 107.6 | 101.5 | 98.0 | 108.8 |
| 2011-01 | 109.4 | 103.7 | 104.6 | 105.5 |
graphiqueBusiness climates in a sector-based approach
- Source: INSEE – monthly business tendency survey in industry.
tableauBusiness climates in a sector-based approach
| NA* : (A17) and [A38 and A64] | Weights** (%) | Jul-26 | Aug-26 | Sep-26 |
|---|---|---|---|---|
| (C1) Man. of food products and beverages | 20 | 98 | 98 | 97 |
| (C3) Machinery and equipment goods | 11 | 106 | 104 | 103 |
| [CI] Computer, electronic and optical products | 4 | 117 | 115 | 116 |
| [CJ] Electrical equipment | 3 | 102 | 105 | 103 |
| [CK] Machinery and equipment | 5 | 100 | 94 | 93 |
| (C4) Man. of transport equipment | 19 | 103 | 101 | 103 |
| [CL1] Motor vehicles, trailers and semi-trailers | 9 | 99 | 97 | 102 |
| [CL2] Other transport equipment | 10 | 104 | 103 | 103 |
| (C5) Other manufacturing | 45 | 99 | 101 | 99 |
| [CB] Textiles, clothing industries, leather and footwear industry | 2 | 107 | 105 | 106 |
| [CC] Wood, paper, printing | 4 | 105 | 100 | 101 |
| [CE] Chemicals and chemical products | 8 | 93 | 96 | 94 |
| [CG] Rubber, plastic and other mineral products | 7 | 97 | 98 | 96 |
| [CH] Basic metals and fabricated metal products | 11 | 98 | 100 | 98 |
| [CM] Other manufacturing industries / Manufacture of other industrial products | 10 | 104 | 106 | 106 |
- * 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 2026 has been revised downwards by two points (after rounding). This revision is mainly due to the inclusion of late responses from companies.
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.
The responses to this survey were collected between 27 August and 21 September 2026: most companies answer during the first two weeks of collection.
Additional information (methodology, links, etc.) is available on the “Documentation” tab.
Next issue: 22 October 2026 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.
The responses to this survey were collected between 27 August and 21 September 2026: most companies answer during the first two weeks of collection.
Additional information (methodology, links, etc.) is available on the “Documentation” tab.
Next issue: 22 October 2026 at 8:45 am.