Business confidence in the French manufacturing sector held steady in February compared with the previous month, but remained well beneath its long-term average, according to data released today.
National statistics office INSEE's monthly business morale indicator for February stood at 91, unchanged from a downwardly revised figure for January.
A sharp fall off in foreign orders weighed on the overall index, dropping to -53 from -48, with a marked drop in car sales dragging the segment down.
The survey's reading for past production rose to 3 in February from 2 in January, while the stocks component remained flat at zero in both months.
INSEE said that the outlook among firms over the coming months was brighter than the long-term average.
Reuters