France: Business confidence steady in January
January 23, 2014
The monthly business sentiment index published by the National Statistical Institute (INSEE) remained at December's 100 points in January and matched market expectations. The indicator is resting at its long-term 100-point average, which is the benchmark measure the INSEE uses to distinguish between improving and worsening conditions in businesses' expectations.
Business leaders in the manufacturing sector were slightly more pessimistic regarding past activity and the state of inventories of finished goods. Businesses were more optimistic regarding their export orders, although the INSEE said that, despite the recent signs of recovery in global demand, business managers are still prudent about the external demand conditions for French exports. The outlook for both personal production and general production expectations also improved in January.
FocusEconomics Consensus Forecast panelists see private investment expanding 0.6% in 2014, which is unchanged over the previous month's estimate. For 2015, the panel sees investment expanding 1.9%.