The French industrial sentiment indicator edged up to 104 in May 2019 from a near three-year low of 101 in the previous month and above market expectations of 101. It was the highest reading since November 2018, as the balance of industrialists’ opinion on their past activity rose (3 vs 0 in April) and that on their personal production expectations increased sharply (13 vs 6). In addition, manufacturers were much more optimistic about the general production prospects for the sector (4 vs -2) while they reported a slightly improvement in export orders books (-9 vs -10). Regarding employment, the balance of opinion on past workforce size has decreased (4 vs 7), while that on expected workforce was stable (at 2). Business Confidence in France averaged 100.03 Index Points from 1976 until 2019, reaching an all time high of 124 Index Points in June of 2000 and a record low of 66 Index Points in March of 2009.
Business Confidence in France is expected to be 103.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in France to stand at 102.00 in 12 months time. In the long-term, the France Business Confidence is projected to trend around 107.00 Index Points in 2020, according to our econometric models.