France’s manufacturing business climate indicator eased to 102 in February 2026 from 105 in January, undershooting expectations of 104 but still standing above its long-term average of 100. Production-related balances weakened: personal production prospects fell sharply to 10 from 18, though they remained above their historical norm, while general production prospects slipped further into negative territory, to -6 from -4. The balance for past production also declined, to 3, dipping slightly below its long-term average.
Order books deteriorated, with overall orders dropping to -16 from -11, while foreign orders were unchanged at -6 and remained well above their historical norm. Finished-goods inventories edged up to 9 but continued to run below their usual levels. Workforce balances fell for both past and expected employment, although hiring expectations stayed above their long-term average. Selling price expectations increased to 5 from 2, returning above their norm, and economic uncertainty eased slightly to 32 from 33, though it remained elevated.
