RTTNews reports that survey results from the statistical office Insee showed that French manufacturing confidence strengthened to the highest level in more than three years in July largely driven by the assessment of foreign orders and personal production expectations.

The manufacturing sentiment index advanced to 110 in July from 108 in June. This was the highest score since April 2018 and above economists' forecast of 107.

The overall order book balance rose to -2 in July from -7 in the previous month. Likewise, the balance of opinion on export order books advanced to -10 from -16.

Manufacturers are also being optimistic about their own production for the next three months. The corresponding balance advanced to 21 from 18 in June. Meanwhile, the general production expectations index fell to 20 in July from 25 in the previous month.

The overall business confidence index that comprises the responses of business leaders from sectors namely, manufacturing, construction, services, retail trade and wholesale trade, dropped marginally to 113 in July from 114 in June.