March 28, 2023 06:47 GMT
Manufacturing Sentiment Edges Down on Softer Outlooks
FRANCE MAR MANUF SENTIMENT 104; FEB 105
- French manufacturing sentiment edged down by one point in March to 104, from an upwardly revised 105 in February. This is largely in line with consensus expectations of a one-point decline.
- Softer March sentiment was largely a result of dampened personal production outlooks, which weakened to the lowest since September 2022. This was foreshadowed by the flash March PMI report which saw manufacturers’ one-year outlooks turn pessimistic for the first time since November.
- Regardless, the indicator remains above the long-term average of 100 and selling price expectations were stable, adding to evidence of cooling PPI.
- This data follows a boost in German manufacturing sentiment in the Ifo survey. Italian manufacturing sentiment is due at 0900 BST, creating a clearer picture of eurozone manufacturing outlooks at the end of Q1.