France Business Confidence July 2020


France: Business sentiment improves again in July but remains downbeat

July 23, 2020

The French Statistical Institute’s (INSEE) business climate indicator for the manufacturing sector rose to 82 in July from 77 in June. The index thus continued to improve for the third consecutive month. Nevertheless, it still remained below the 100-threshold, its long-term average.

Manufacturers’ personal production expectations rose further in July, after turning positive in June. Moreover, general production expectations in the sector turned less negative for the third consecutive month. Turning to staffing, employment intentions gained ground but remained pessimistic. In terms of demand, perceptions of new orders turned slightly less negative, but remained deeply entrenched in negative territory. Perspectives on new export orders, meanwhile, remained downbeat.

FocusEconomics Consensus Forecast panelists see fixed investment falling 16.9% in 2020, which is down 1.0 percentage points from last month’s forecast. For 2021, the panel sees fixed investment growth at 8.3%.

Author:, Economist

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France Business Confidence July 20 20 0

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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