France Business Confidence September 2018


France: Business confidence erodes in September

September 26, 2018

In September, the National Institute of Statistics and Economic Studies’ (INSEE) business sentiment index for the manufacturing sector ticked down to 107 points from 110 points a month earlier. Despite notching the weakest reading in a year and a half, the indicator landed above the 100-point long-run average—INSEE’s benchmark measure which distinguishes improvement of the business environment.

September’s reading reflected a nearly broad-based pullback across the index’s components, led by firms’ significantly less optimistic output expectations. Meanwhile, manufacturers’ views on order books remained as equally downbeat as a month earlier.

FocusEconomics Consensus Forecast panelists see fixed investment growing 2.8% in 2018, which is up 0.2 percentage points from last month’s estimate. For 2019, the panel sees fixed investment expanding 3.0%, unchanged from last month’s forecast.


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France Business Confidence Chart

France Business Confidence September 2018

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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