France: Business confidence plummets to over one-decade low in April
April 22, 2020
In April, the French Statistical Institute’s (INSEE) business climate indicator for the manufacturing sector fell to 82 in April from 98 in March. As a result, the indicator plunged further below the 100-threshold, its long-term average.
Manufacturers’ general production expectations sank amid plummeting new orders, as Covid-19 torpedoed demand. Moreover, employment intentions plunged deeper into negative territory, as did firms’ assessment of their past workforce size.