France Business Confidence

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France: Business confidence stabilizes in September

September 23, 2014

The monthly business sentiment index published by the National Statistical Institute (INSEE) stabilized in September, following four consecutive months of deteriorating economic conditions. The indicator stood at the previous month’s 96 points in September, which represented the lowest level in a year. The print matched market expectations. The indicator remains below its long-term 100-point average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.

September’s reading mostly reflected that businesses were more pessimistic regarding general production expectations in the manufacturing industry as well as their view on global order books. Conversely, personal production expectations and inventories improved in September.

FocusEconomics Consensus Forecast panelists see private investment expanding 0.3% in 2014, which is down 0.2 percentage points over the previous month’s estimate. For 2015, the panel sees investment expanding 1.8%.


Author: Ricard Torné, Head of Economic Research

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France Business Confidence September 2014

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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