According to the business managers surveyed in February 2020, the business climate in industry has remained at 102, two points above its long term average.

n February 2020, the industrialists' balance of opinion on their overall order books has improved for the second month consecutively, after the low point of December. However, the balance on foreign order books has worsened again, after a rebound in January. Both balances stand above their long-term average. The balance of opinion on past production has recovered slightly but stays below its average. The balance on personal production prospects is stable, after a sharp increase in January, and the one on general prospects has recovered sharply. Both balances stand above their long-term average.

Considering employment, the balances of opinion on past and expected variations are practically stable. Both balances stand above their average. The turning point indicator has remained in the area indicating a favourable economic outlook.

Insee also reported that in February 2020 the business climate is stable. At 105, the composite indicator, compiled from the answers of business managers in the main market sectors, is still above its long-term mean (100). Compared to January, the business climate has gained one point in retail trade and in services. It is stable in building construction and in manufacturing. In all sectors, the business climate stands above its long-term average.