The data published by INSEE showed that in August the business climate indicator increased by 3 points compared to July, reaching 97 points. All market sectors surveyed this month have contributed to this recovery. However, the index remained below its long-term average (100). Economists had expected an increase to 96 points.
INSEE said that the manufacturing climate indicator rose by 4 points, to 99 points (just below its long-term average), held up by the rebound in the balances of opinion related to the personal production prospects and the foreign order books. Economists had expected the index to be 96 points. The indicator of the business climate in the service sector increased by 3 points to 98 points. In the building construction sector, the business climate indicator increased to 101 points from 99 points in July. In retail trade (including trade and repair of vehicles), the business climate rose by 2 points to 96 points.
The data also showed that the employment climate index increased to 98 points from 96 points in July, and has moved closer to its long-term average (100). This improvement is mainly the result of the rebound in the balance of opinion related to the expected change in the workforce size in services (excluding temporary work agencies).