Informations Rapides · 22 October 2026 · n° 253

In October 2026, the business climate in manufacturing industry has strongly increased, driven by the manufacturing of transport equipment  Monthly business survey (goods-producing industries) - October 2026

In October 2026, the business climate in manufacturing industry has strongly increased anew. At 105, the synthetic indicator has gained four points and has moved away from its long-term average (100). All the balances comprising the indicator contribute to this increase, with the main contributions coming from the balances of opinion relating to global and foreign order books. The business climate has strongly increased in the manufacturing of transport equipment.

In October 2026, the balance of opinion associated with personal production prospects has increased for the third consecutive month and has moved away from its long-term average. It has reached its highest level since February 2022. The one relating to the change in past production has increased again, but remains below its average. The balance associated with general production prospects in manufacturing industry has increased for the sixth consecutive month and has returned to its long-term average. The balance relating to economic uncertainty felt by business leaders has risen sharply and has returned to levels close to those observed in April and May, above its average.

The balance of opinion associated with the level of global order books has rebounded and has moved away from its long-term average. The one associated with the level of foreign order books has increased again, stands markedly above its average and has reached its highest level since April 2022.

The balance of opinion on the current level of finished goods inventories has fallen back and has moved back below its average.

The balances of opinion relating to the evolution of workforce size, both past and expected, have slightly rebounded. They both stand above their long-term average.

The balance of opinion associated with the expected trend in selling prices over the next three months has fallen back, but stays well above its average, which it has exceeded since February 2026.

The share of companies reporting production obstacles due to workforce shortage remains stable, one point above its average. The share of those reporting sourcing difficulties as a limiting factor has slightly increased, hovering well above its own since July 2025.

Overall, the share of companies declaring supply-side obstacles only is stable: at 31%, it remains well above its average. The share of companies declaring obstacles linked to demand only is stable: at 22%, it stands very markedly below its average. Finally, the share of companies declaring obstacles linked both to supply and demand has slightly edged down and has left its own.

In October 2026, the business climate indicator in the manufacturing of food products and beverages has rebounded and has increased by four points. At 98, it stands below its long-term average (100). The balance of opinion relating to the level of global order books has rebounded sharply.

In the manufacturing of machinery and equipment goods, the synthetic business climate indicator has improved, mainly due to the sharp increase in the balance of opinion relating to foreign order books, which has reached a level unobserved since March 2023. At 107, it has moved away from its long-term average (100). The indicator is stable and far above its average in the manufacturing of computer, electronic and optical products, while it has increased again in the manufacturing of machinery and equipment and has rebounded in the manufacturing of electrical equipment.

In the manufacturing of transport equipment, the business climate indicator has strongly increased. At 111, it has moved away from its long-term average (100) and has reached a level unseen since last January. It has slightly fallen back in motor vehicles, trailers and semi-trailers, but remains one point above its average: the strong increase in the balance relating to past production is not enough to offset the downturn in those relating to global and foreign order books. Conversely, the business climate has increased anew very markedly in the manufacturing of other transport equipment, where it has moved even further away from its average. This increase is driven by the balances relating to global and foreign order books.

Finally, the business climate indicator in “other manufacturing” is stable. At 99, it stands one point below its long-term average (100). All sub-sector business climates have decreased, except for the business climate in the chemical industry, which has increased by one point. The synthetic indicator has declined notably in “wood, paper, printing”, where it has lost six points, owing to the decline in the balances on the change in past production and the level of global order books. The climate has also decreased in the sub-sector of basic metals and fabricated metal products, where it has lost two points, owing to the decrease in the balances relating to order books.

The business climate in manufacturing industry of September 2026 has not been revised (after rounding).