French manufacturing confidence weakened in March as production outlooks fell to "near-historic lows", the national statistics institute INSEE said today.
INSEE said its composite indicator of French business confidence fell to 94 in March after holding steady at 97 in February and January, according to its monthly survey of industrialists.
The indicator reflects the level of positive business leader opinion on the overall output outlook, their own output outlook, past production, inventories and order books.
The March decline "primarily reflects a climate of great uncertainty," while "the general production outlooks fell to near-historic lows" at minus 53, it said.
The production outlooks component stood at minus 34 in February and minus 31 in January, reflecting growing uncertainties since a reading of minus two in June 2002.
AFP