France: Business confidence improves slightly in October
October 23, 2013
The monthly business sentiment index published by the National Statistical Institute (INSEE) increased to 98 points in October (September: 97 points), a result that market analysts had expected. The October reading offset September's deterioration and therefore business confidence remains close to the long-standing 100-point average.
The October survey showed that business leaders in the manufacturing sector were less pessimistic regarding past activity. Moreover, business situation sentiment marked the highest level in more than two years. Conversely, respondents' expectations for general production were less optimistic than in the previous month.
According to the Central Bank's Monthly Index of Business Activity (MIBA), GDP will expand 0.1% in Q3. FocusEconomics Consensus Forecast panelists also estimate that GDP will expand 0.1% in Q3.