The business climate in France deteriorated in September, with business leaders becoming more pessimistic about their activity and prospects, INSEE reported on Thursday.
The indicator that summarizes the business climate lost two points to 102 points, and is still slightly above its long-term average, which is 100 points, according to the National Institute of Statistics. “All the major sectors of activity are contributing to this deterioration, with the exception of construction,” INSEE specifies in its press release.
“Favourable” work environment
In industry, business leaders are more pessimistic about their future activity and order book, while in services, business leaders’ opinion has become more negative about their activity in the last three months.
In retail trade, after a rebound in August, managers are now “more pessimistic about the prospects for activity in the sector” whose indicator, at 96 points, remains below its long-term average. In construction, the business climate is stabilizing at a very high level compared to its long-term average, even gaining one point, up to 114 points.
Finally, the employment climate “remains favorable”, INSEE still points out. The indicator, which has fluctuated between 107 and 110 since May, gained two points from August, rising to 109 points. This good behavior is due “mainly to the recent and future evolution of the workforce in services”, excluding temporary employment agencies, the institute specifies.
Source: BFM TV
