France Business Confidence July 2016


Business sentiment broadly stable in July

According to the INSSE business climate survey, the business confidence indicator rose from 102 points in June to 103 points in July, overshooting market expectations of 101 points. Thus, the indicator remains above the 100-point long-term average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.

According to the INSEE, the result came on the back of businesses’ more optimistic assessment regarding three of the five components of the index, where general production expectations and past activity improved notably. The reading, however, was partly offset by a sharp deterioration in personal production expectations and a slightly worsening in inventories, with the latter tallying its lowest reading in eight months.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.0% in 2016, which is down 0.3 percentage points from last month’s forecast. For 2017, participants expect industrial output to accelerate to a 1.8% expansion.

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France Business Confidence Chart

France Business Confidence July 2016

Note: Value of monthly business sentiment indicator index; long-term avg. at 100.
Source: National Institute of Statistics and Economic Studies (INSEE).

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