France: Business confidence in November rises for second consecutive month
November 25, 2014
The monthly business sentiment index published by the National Statistical Institute (INSEE) inched up from October’s 98 points to 99 points in November, which represented the second improvement in eight months. The print overshot market expectations that had the index falling to 97 points. As a result, the indicator moved closer to the long-term 100-point average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.
November’s reading showed that firms were less pessimistic regarding their current business activity than a year ago. Meanwhile, both personal production expectations and finished-goods inventories stabilized in November. Businesses’ assessments of foreign demand improved in November, as export order books and general production expectations rose over the previous month.
Author: Ricardo Aceves, Senior Economist