França Confiança do Empresário

France’s manufacturing business climate indicator rose to 105 in January 2026 from 102 in December, above forecasts of 101 and remaining above its long-term average of 100 for a second month. This marked the highest reading since July 2022, as optimism strengthened for personal production prospects (17 vs 10 in December), while pessimism eased for general production prospects (-4 vs -6), and overall order books (-11 from -17). In contrast, views weakened for finished-goods inventories (8 vs 19), while foreign orders (-6), past production (7), and economic uncertainty (33) remained stable. Workforce balances also stayed mildly negative. By sector, confidence surged in “other manufacturing” and transport equipment, rose modestly in food and beverages, and slipped in machinery and equipment goods. Supply constraints persisted, with 18% citing sourcing issues, 14% workforce shortages, 24% supply-only, and 24% demand-only obstacles.