French Business Confidence Falls to Record Low

(CEP News) Frankfurt - Unexpectedly strong pessimism amongst businesses has pulled the business confidence indicator to a record low, the National Institute for Statistics and Economic Studies reported.

According to a report issued on Friday, the sentiment indicator fell to 68 in February, down from the 73 figure expected and recorded in January.

INSEE reported that total demand and order levels fell to -66 from January’s -55 level, while export demand lost nearly 20 points, coming in at -72 in February.

The general outlook for French production fell to -76, INSEE added, while the outlook for prices slipped one point to -33. The personal production outlook also lost ground, falling to -46 after improving to -39 previously.

Expectations had been for a further gain to -38 for the month.

The euro is currently down 0.68% on the day and is trading at 1.2588 USD.

Written by CEP News European Staff, eunews@economicnews.ca, edited by Stephen Huebl, shuebl@economicnews.ca

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Posted in Categories: Economy, Eurozone, Releases, USA.

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