France Business Confidence

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France: Business confidence stabilizes in January

January 23, 2015

The monthly business sentiment index published by the National Statistical Institute (INSEE) stabilized at December’s 99 points in January. The print also matched market expectations. The indicator has hovered below the long-term 100-point average—the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations—for nine consecutive months.

January’s result reflected that businesses were less pessimistic regarding the general production expectations. In addition, firms were notably more optimistic regarding their own production prospects, with the sub-indicator rising to the highest level in more than three years. Conversely, respondents to the January survey signaled more pessimism regarding their own business activity than a year ago as well as regarding export order books.

FocusEconomics Consensus Forecast panelists see private investment expanding 0.4% in 2015, which is unchanged over the previous month’s estimate. For 2016, the panel sees investment expanding 1.8%.


Author:, Senior Economist

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France Business Confidence January 2015

Note: Value of monthly business sentiment indicator index; long-term avg. at 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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