The FINANCIAL — Confidence in France’s manufacturing sector dropped further than expected in June as business leaders were more cautious about the outlook for their order books and levels of recent production, according to Nasdaq.
In June, business confidence in the manufacturing sector fell to 100–the long term average for the indicator–from 103 in May, statistics bureau Insee said on June 23. Economists polled by The Wall Street Journal had forecast only a one point decline to 102.
The decline in confidence in the manufacturing sector dragged on a wider indicator of business confidence that includes wholesale, construction, retail and services. That indicator fell to 97 in June from 98 in May.