INSEE French business climate indicator stable in October

France’s business climate indicator came in stable in October 2016 for the second straight month. According to the official statistics office INSEE, the composite indicator, which is compiled from the answers of business managers in the main sectors, stood at 101, a tad higher than its long-term average of 100.

Since the initial estimate, the business climate indicator of September 2016 has been lowered a bit and the rounded figure has switched to 101, stated INSEE. The business climate indicator in manufacturing dropped slightly to 102 in October from 103. Consensus projection was for the indicator to remain stable at 103. However, it continues to remain above the long-term average of 100.

For building construction, the indicator has remained stable at 96 in the month. This indicator has remained at this level since April 2016. On the other hand, business climate in services dropped slightly by one point. The indicator has fallen to 101 in October from 102 in the previous month. Also, indicator for retail trade fell by two points in the month. It fell from 102 in September to 100 in October.