France’s business morale lowest since January

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France’s business confidence has decreased to its lowest level since January in May, the latest data by INSEE showed.

The gauge of business morale came in at a reading of 99.2 in May, down from 100.0 in April.

The indicator remained below its long-term average and also below market consensus of 100.0.

In May, companies’ assessments became negative for past production (-2 down from 1 in April) and for expected trend in selling prices (-1 down from 3 in April).

Additionally, businesses’ pessimism increased for general production (-9 down from -7 in April).

Meanwhile, evaluations became less positive for expected change in workforce (3 down from 4 in April) and for personal production (1 down from 8 in April).

Conversely, the gauge for perceiving economic uncertainty improved to 28 in May from a level of 27 in April.

The Euro was last 0.36% firmer on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0854.

Author: Miroslav Marinoff
Miroslav Marinoff, a news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market and the US Stock Market.

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