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FRANCE DATA
MNI (London)

MAY BUS CLIM INDICATOR 108; APR 96r

MAY MFG SENTIMENT 107; APR 104

MAY SERVICES SENTIMENT 107; APR 92

  • The French business climate indicator jumped to the highest level since Apr 2018, rising 12pt to 108 and surpassing market expectations (BBG: 97)
  • The index registered above the long-term average for the first time since Feb 2020.
  • Insee noted that the gradual easing of restrictions in France and other countries provided a significant boost to economic activity in May.
  • Service and retail trade sentiment both surged to 107 in May, up from 92 and 90, respectively. While service sector business climate recorded the highest level since Jan 2020, retail trade confidence posted a 17-month high.
  • Especially the food and accommodation industries are posting solid gains in business confidence the report noted.
  • Business climate in the manufacturing sector rose further as well to 107, its highest level since Apr 2018.
  • Employment climate improved as well in to 99.8 in May, up from 92.2 seen in Apr.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com