Manufacturing Business Confidence in France

INSEE · Monthly · Importance

101.4 (Sep-26) ABS · balance (mean 100) · Monthly · CSV

Period	balance (mean 100)
Sep 2026	101.4
Aug 2026	101.2
Jul 2026	101.1
Jun 2026	100.2
May 2026	102.2
Apr 2026	100.2
Mar 2026	99.8
Feb 2026	101.8
Jan 2026	105.0
Dec 2025	101.9
Nov 2025	98.2
Oct 2025	100.8
Sep 2025	96.9
Aug 2025	97.6
Jul 2025	96.0
Jun 2025	96.6
May 2025	97.1
Apr 2025	99.9
Mar 2025	96.8
Feb 2025	97.5
Jan 2025	95.6
Dec 2024	96.5
Nov 2024	96.3
Oct 2024	92.5
Sep 2024	98.5
Aug 2024	99.9
Jul 2024	96.1
Jun 2024	99.7
May 2024	99.8
Apr 2024	100.2
Mar 2024	102.9
Feb 2024	101.2
Jan 2024	99.3
Dec 2023	98.8
Nov 2023	99.0
Oct 2023	98.9
Sep 2023	97.9
Aug 2023	97.3
Jul 2023	101.5
Jun 2023	101.0
May 2023	99.3
Apr 2023	100.9
Mar 2023	103.6
Feb 2023	103.5
Jan 2023	102.6
Dec 2022	101.0
Nov 2022	101.6
Oct 2022	103.4
Sep 2022	101.7
Aug 2022	103.9
Jul 2022	106.0
Jun 2022	108.7
May 2022	107.4
Apr 2022	108.4
Mar 2022	107.8
Feb 2022	111.9
Jan 2022	112.8
Dec 2021	108.5
Nov 2021	110.2
Oct 2021	107.5

Period	balance (mean 100)
Sep 2026	0.2
Aug 2026	0.1
Aug 2023	-4.2
Jul 2023	0.5
Feb 2021	1.5
Jan 2021	1.8
Sep 2020	2.6
Aug 2020	9.8
May 2018	-1.0
Apr 2018	0.2
Jan 2018	1.7
Dec 2017	0.4
Sep 2017	1.1
Aug 2017	1.4
Jun 2017	0.9
May 2017	-0.2
Apr 2017	3.2
Mar 2017	-1.1
Aug 2012	1.7
Jul 2012	-2.0
Sep 2009	2.9
Aug 2009	4.4
Jul 2009	1.8
May 2009	1.4
Oct 2007	-0.8
Sep 2007	-0.4
Jun 2007	1.2
May 2007	-1.8
Jul 2000	-3.0
Jun 2000	2.8
Apr 2000	-0.2
Mar 2000	2.3
Mar 1999	-5.3
Feb 1999	0.3
Mar 1998	4.0
Feb 1998	0.8
May 1995	-0.2
Apr 1995	0.3
Feb 1995	-2.6
Jan 1995	0.9
Apr 1994	5.8
Mar 1994	7.4
Jan 1994	3.1
Dec 1993	2.9
Nov 1993	3.8
Oct 1993	1.3
Nov 1992	-2.6
Oct 1992	-4.4
Sep 1991	0.9
Aug 1991	0.5
Mar 1991	1.7
Feb 1991	-5.5
Feb 1990	-1.8
Jan 1990	-1.2
Jul 1985	-1.0
Jun 1985	3.2
Dec 1981	-0.4
Nov 1981	3.3
Jun 1981	0.5
May 1981	0.8

Period	balance (mean 100)
Sep 2026	4.5
Aug 2026	3.6
Jul 2024	-5.4
Jul 2023	-4.5
Jan 2022	17.3
Aug 2021	18.9
Jan 2021	-7.3
Aug 2020	-11.9
Apr 2019	-9.6
Dec 2018	-8.7
Aug 2018	-1.5
May 2018	1.6
Apr 2018	2.4
Mar 2018	5.4
Dec 2017	6.4
Aug 2017	8.6
May 2017	4.4
Mar 2017	2.9
Jul 2013	3.5
Jul 2012	-13.8
Aug 2010	20.0
Jun 2010	21.4
May 2010	24.1
Aug 2009	-18.8
Jun 2009	-30.4
May 2009	-33.2
Sep 2008	-19.5
May 2008	-6.3
Sep 2007	2.7
May 2007	1.4
Jun 2001	-20.5
Mar 2001	-8.8
Jun 2000	25.8
Mar 2000	23.9
Feb 2000	16.3
Feb 1998	14.2
Apr 1996	-15.7
Jan 1996	-23.0
Apr 1995	8.2
Mar 1995	13.7
Jan 1995	26.5
Dec 1994	28.7
Oct 1994	35.5
Mar 1994	22.1
Dec 1993	5.3
Oct 1992	-8.7
Aug 1992	-2.8
Feb 1992	6.5
Aug 1991	-12.0
Feb 1991	-24.6
Jan 1991	-20.9
Jan 1990	-7.0
Jun 1986	1.1
Jun 1985	4.8
Nov 1982	-4.4
May 1982	9.3
Mar 1982	9.8
Jan 1982	8.5
Nov 1981	7.7
Aug 1981	-1.6

About this indicator

Source

National Institute For Statistics And Economics Studies (INSEE)

Frequency

Monthly

Release

At the end of the month it refers to.

What it is

A monthly INSEE survey of managers in French manufacturing about current conditions and the outlook for their activity (output, demand, stocks, prices and expectations). The synthetic industrial business-climate indicator summarises those responses.

How it's calculated

From the responses (better, unchanged or worse), each balance is calculated as the difference between the shares of positive and negative answers. The business climate is built by combining those balances and is normalised around a mean of 100.

Market implications

It is a leading indicator of the French industrial cycle and comparable with surveys elsewhere in Europe; a reading above 100 points to conditions better than the historical average. It helps to anticipate industrial output and the pace of growth.

Limitations

It is best read for its trend rather than a single level, since it measures perceptions rather than actual output; it also covers manufacturing only and can diverge from the hard production data.