France: Business sentiment remains constant in November
November 24, 2016
According to the French National Institute of Statistics and Economic Studies’ (INSEE) business climate survey on manufacturing activity, the business confidence indicator was at 103 points in November, identical to the October figure. The reading beat market expectations of 102 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’ broad-based optimistic outlook on the economy. Looking at the details, general production expectations rose slightly compared to October, although individual production expectations fell to their lowest level in three months. Business optimism remained at or above the 100-point long-term average in all categories. Business sentiment improved in the food products and beverages and in the machinery and equipment sub-sectors, while firms grew less optimistic in the transport equipment sub-sector.
Author: Oliver Reynolds, Economist