Business sentiment in France continued to deteriorate in May, hitting its lowest level in more than two years. Compared to the previous month, the business climate fell by two points to 100 points, as reported by the Insee statistics office in Paris on Thursday. Analysts had expected a slowdown, but had only assumed a drop to 101 points.
Business sentiment in the second largest economy in the eurozone has deteriorated for the third month in a row. The index value is the lowest it has been since April 2021.
As Insee further reported, there was a mood dampener in all recorded economic sectors. Accordingly, there were declines in the sub-indicators for industry, services, construction and retail. (dpa)