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JUL BUS CLIM INDICATOR 113; JUN 114r

JUL MFG SENTIMENT 110; JUN 108r

JUL SERVICES SENTIMENT 112; JUN 112

  • French business climate slipped 1pt to 113 in Jul, following an upward revised Jun reading of 114 and confirming expectations (BBG: 113)
  • Despite the downtick, business climate remains at a very high level, well above the long-term average and above the pre-crisis level.
  • Jul's small drop was led by a decline recorded in the retail trade sector, while the manufacturing sector posted a monthly gain.
  • Business climate in the service sector remained unchanged at Jun's very high level of 112, following Jun's downward revision by 1pt to 112.
  • Retail trade business climate eased 1pt to 115 in Jul, which was due to a fall in sales opinion on general business prospects, Insee noted.
  • Manufacturing sentiment rose 2pt in Jul, showing the highest level since Apr 2018.
  • Employment climate rose 3pt to 108, its the highest level since Mar 2019, mainly on the back of service sector employment in the past months.


Source: Insee