France Business Confidence September 2016


France: Business sentiment improves in September

September 22, 2016

According to the National Institute of Statistics and Economic Studies’ (INSEE) business climate survey, the business confidence indicator rose from August’s over-one-year low of 101 points to 103 points in September. The reading overshot market expectations of 101 points. The indicator remains above the 100-point long-term average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.

According to the INSEE, the result reflected businesses’ nearly broad-based optimistic outlook on the economy. Looking at the details, general production expectations rose to the highest point in ten months and individual production expectations rose notably. Export order books was the only category where businesses were more pessimistic. At the sector level, sentiment in the food products and beverages sectors as well as in the transportation manufacturing industries improved while it remained unchanged in machinery and equipment goods manufacturing.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 2.3% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, participants expect fixed investment to expand 1.7%.

Author: Jean-Philippe Pourcelot, Economist

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France Business Confidence Chart

France Business Confidence September 2016

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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