France: Business confidence falls to near-five year low in October
In October, the French Statistical Institute’s (INSEE) business climate indicator for the manufacturing sector decreased to 99 from September’s 102 result, its lowest print since March 2015. Thus, the indicator moved below the 100-threshold, its long-term average.
October’s deterioration reflected increased pessimism towards overall order books, as well as in manufacturers perception of finished goods inventories. With regards to employment, the balances of opinion on manufacturers’ past assesment and future prospects decreased slighly, although both remained above their long-term average.