France: Business confidence dips in June
In June, the French Statistical Institute’s (INSEE) business climate indicator for the manufacturing sector fell 2 points from a month earlier to 102 points. The indicator thus remained above its 100-point long-run average.
June’s deterioration was nearly broad-based across categories but was mainly attributable to increased pessimism on overall and export orders, as well as reduced optimism of firm’s output prospects over the short-term. That said, manufacturers’ opinion on past activity improved sizably from a month earlier.