French business confidence reached its highest level in more than four years in September, survey data from the statistical office Insee showed Thursday.
The business sentiment index for manufacturers improved to 104 in September from 103 in August. This was the highest score since August 2011, the Insee said. Economists had forecast the indicator to remain unchanged at 103.
Industrialists were increasingly optimistic on their personal production expectations. The corresponding index rose 6 points to 14 in September, its highest level since July 2011.
The opinion of the industrialists on general production expectations of the sector improved further. The indicator came in at 7 versus 3 in August.
The balance of opinion on past activity also bounced back, by 3 points to 7.
Meanwhile, global export order books balance decreased to -15 from -12 a month ago. At the same time, export order books balance remained stable at -9 in September.
The business sentiment index for services dropped to 97 in September from 99 in August. At the same time, the overall business confidence held steady at 100.
The material has been provided by InstaForex Company – www.instaforex.com