France Business Confidence July 2017


France: Business sentiment steady in July

July 25, 2017

According to the National Institute of Statistics and Economic Studies’ (INSEE) business climate survey on manufacturing activity, the indicator remained steady in July at June’s revised 109 points (previously reported: 108 points). The indicator is well 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, July’s reading reflected diverging views among manufacturers. While manufacturers perceived their past acitivty, personal production expectations and finished-good inventories in a more negative light, they were more upbeat concerning general production expectations. On the contrary, their views of global and export order books were unchanged from last month.

Regarding the different industries in the manufacturing sector, sentiment improved in machinery and equipment goods and manufacturing of transport equipment and declined in manufacturing of food products and beverages and other manufacturing.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 1.9% in 2017, which is unchanged from last month’s forecast. For 2018, participants expect fixed investment to expand 2.3%.

Author: Jean-Philippe Pourcelot, Economist

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France Business Confidence Chart

France Business Confidence July 2017

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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