França Confiança do Empresário

France’s manufacturing business climate indicator fell to 98 in November 2025 from 101 in October, moving below expectations and its long-term average of 100. Pessimism notably worsened for overall order books, which dropped to -20 from -15 in October, and for foreign orders, which fell to -15 from -4, mainly affecting other transport equipment. Optimism for personal production prospects eased to 14 from 19, though it remained well above the long-term average, while past production improved (-10 vs -13) but stayed below average. Positive sentiment about finished-goods inventories declined (16 vs 19), general production prospects remained weak at -10, and economic uncertainty held near 30. Workforce balances turned slightly negative (-1 vs 0), and expected selling price trends fell to 2 from 4. By sector, confidence rose in food products and beverages, increased in computer, electronic, and optical products, fell in transport equipment, and improved slightly in other manufacturing.