France Business Confidence

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France: Confidence among French firms wanes somewhat in March

March 25, 2015

The monthly business sentiment index published by the National Statistical Institute (INSEE) inched down from February’s 100 points to 99 points in March. The reading also fell short of the 100 points the markets had expected. The indicator has been below the long-term 100-point average—the benchmark measure the INSEE uses to distinguish between improving and worsening business expectations—in nine of the last 11 months.

March’s mild drop reflected that businesses were less optimistic regarding their own production expectations. Respondents to the March survey also signaled more pessimism regarding their own business activity compared to a year ago. Conversely, firms’ assessment regarding general production expectations improved over the previous month along with businesses’ opinions about global order books.

FocusEconomics Consensus Forecast panelists see private investment expanding 0.4% in 2015, which is unchanged over the previous month’s estimate. For 2016, the panel sees investment expanding 1.8%.


Author:, Senior Economist

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France Business Confidence March 2015

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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