France: Confidence among French firms reaches highest value since July 2011 in May
May 22, 2015
The monthly business sentiment index published by the National Statistical Institute (INSEE) inched up from April’s 102 points to 103 points in May. The reading overshot the 101 points the markets had expected. The figure marked the highest value in almost four years. The indicator is now further above the long-term 100-point average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations.
May’s increase reflected that businesses were more optimistic regarding past activity and inventories. Conversely, firms’ assessments regarding general production expectations and global order books deteriorated over the previous month. Businesses’ views regarding their personal production expectations remained stable.
Author: Eric Denis , Economist