French business sentiment remained unchanged in January, monthly survey results from the statistical office Insee showed Thursday.
The business climate index in manufacturing came in at 102 in January, the same reading as seen in December and November. Economists had forecast the index to remain at December’s originally estimated value of 103.
Personal production expectations improved marginally in January. The corresponding index rose to 10 from 9 in prior month.
At the same time, industrialists were slightly more optimistic than in December on general production expectations. The indicator came in at 2 in January versus zero in December.
However, the assessment of past activity weakened slightly and export order balance deteriorated in January. The reading for past activity was -1 and that for export order at -12.
The indicator for finished goods inventory dropped to 7 from 12 and the global order book balance held steady at -11.
The composite business climate index, comprising the main sectors, rose to 102 in January from 101 in December. The climate indicator for retail sales gained 1 point to 105, and that for services rose 2 points to 100.
President Francois Hollande early this week unveiled a EUR 2 billion plan aimed at lowering double-digit unemployment rate. He said the nation is in ‘a state of economic emergency.’
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