Business sentiment in France remained surprisingly stable in October. As in the previous month, the index value for the business climate was 102 points, as reported by the Insee statistics office on Thursday in Paris. Analysts had expected another setback and expected a drop to 101 points.
The mood barometer is thus staying above the longer-term average of 100 points. It remains well above levels seen during the coronavirus pandemic, despite the aftermath of the war in Ukraine and problems with industrial supply chains.
However, there were different developments in the individual sectors of the French economy. Even if the business climate in the retail sector in the second largest economy in the euro zone improved somewhat, it remains comparatively weak. In contrast, the statistics office for the construction industry reports a continued favorable business climate.
According to the information, there was also an improvement in industry in October. In the manufacturing sector, the business climate has recovered somewhat after three months in a row, the statement said. This is due in particular to higher expectations of future production and a better order situation. (dpa)