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FR Sep Business Climate - Preview (24/9/20 0745BST)

FRANCE DATA
MNI (London)

FRANCE SEP BUS CLIM INDICATOR: BBG Cons: 94.0; AUG 91.0

FRANCE SEP MFG SENTIMENT: BBG Cons 96.0; AUG 93.0

  • French business confidence is expected to rise modestly to 94 in Sep after increasing to 91 in Aug, nevertheless, the index still remains below the long-term average.
  • Meanwhile, manufacturing sentiment is also seen higher at 96, up from 93, showing a further recovery although at a slower pace.
  • All other indicators including service sentiment and retail trade confidence improved further as well in Aug.
  • Similar survey evidence suggests a downside risk for Sep's reading:
  • The recently released flash PMI showed a decline of the service as well as the composite PMI in Sep with the renewed increase in Covid-19 cases being cited as the main reason.
  • The survey shows a divergence between the manufacturing and the service sector, with manufacturing posting a small uptick in business activity.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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