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French manufacturing sentiment strongest since 2011

Staff Writer |
French manufacturing sentiment strengthened to a near six-year high in April, survey results from the statistical office Insee showed.

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The manufacturing confidence index rose 3 points to 108 in April, the highest since June 2011. The score was forecast to remain unchanged at 105.0.

The turning-point indicator signals a favorable economic outlook and the reading was well above its long-term average of 100.

The balance of industrialists' opinion on their past activity rebounded to 16 in April, its highest level since December 2016. The balance on personal production expectations climbed to 14 from 11 in March.

Business managers were a little less upbeat on general production prospects for the sector. The corresponding balance dropped to 1 from 3 in March.

The global order books balance rose to -6 from -9 and that for export order books climbed to -1 from -5.

The overall business confidence held steady at 104 in April. The composite indicator, compiled from the answers of business managers in the main sectors, stood, as in March, four points above its long-term average of 100.

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