France: Business confidence falls for fourth consecutive month
August 27, 2014
The monthly business sentiment index published by the National Statistical Institute (INSEE) fell for a fourth consecutive month in August. The indicator edged down from the 97 points recorded in July to 96 points, which marked the lowest level since September 2013. The print also undershot market expectations that the index would hold steady at 97 points. The indicator remains below its long-term 100-point average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.
August’s deterioration stemmed from businesses’ more pessimistic assessment regarding general production expectations in the manufacturing industry as well as their view regarding their personal production expectations. Meanwhile, global order books and inventories were unchanged over the previous month.