France: Business confidence wanes in September
September 25, 2013
The monthly business sentiment index published by the National Statistical Institute (INSEE) edged down to 97 points in September (August: 98 points) and contrasted market expectations of a rise to 99 points. Nonetheless, business confidence is still close to the long-standing 100-point average.
According to the September survey, business leaders in the manufacturing sector showed more pessimism regarding their global order books and past activity. Conversely, respondents' expectations for general production were more optimistic than in the previous month.
According to the Central Bank's Monthly Index of Business Activity (MIBA), GDP will expand 0.1% in Q3 FocusEconomics Consensus Forecast panelists estimate that GDP will expand 0.2% in Q3.