France: Business confidence ticks up in August
August 29, 2012
The business sentiment index published by the National Statistical Institute (INSEE) inched up to 90 points in August from a revised 89 points in July (previously reported: 90 points). The modest increase matched market expectations, which had business confidence remaining stable at the original 90 points recorded in July. Despite the monthly improvement, business sentiment remains below its long-term average of 100 points, where it has now languished since September 2011. The monthly result reflected an improvement in personal production expectations. In addition, demand and export order levels improved over the previous month. On the other hand, finished-goods inventory levels and general production expectations remained unchanged from last month.