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France business climate stable in October

Xinhua, October 25, 2016 Adjust font size:

Confidence of French business leaders concerning the economy and manufacturing activity was stable in October, with the monthly sentiment indicator standing at 101, the national statistics bureau Insee said Tuesday.

Unchanged from September figures, October's business indicator remained "slightly above its long-term average of 100 points," according to the report.

Confidence in construction activity was stable over the period at 96 points while the indicator for manufacturing and services sectors fell by one point to 102 and 101 respectively.

However, there was more pessimism surrounding retail trade with the indicator losing two points to 100.

At the same time, "the turning point indicator for the French economy as a whole is showing an uncertain short-term economic outlook," Insee said in its monthly report.

The French government vowed to accelerate the country's economic growth by 1.5 percent this year by breathing life into the sluggish competitiveness of domestic companies and with the global business climate improving. Endit