• French insee business climate index stable in June

    Source: FxWire Pro - Commentary / 21 Jun 2018 16:33:32   America/New_York

    The latest INSEE business survey from France – where in spite of the ongoing industrial unrest, politics continues to be much less volatile – was in line with a stabilization of business confidence at the end of second quarter. Having dropped in each of the initial five months of the year, the composite business climate indicator remained unchanged at 106, still above its long-term average and therefore in line with ongoing relatively firm economic growth.

    Sentiment was stable in manufacturing and services, and rose in construction and retail, and therefore continued to register above-average levels in every sector. Furthermore, the survey’s employment climate indicator also rose to a four-month high of 110, above its long-term average similarity with favourable labor market conditions recorded in every sector, noted Daiwa Capital Market Research.

    Sentiment was stable in manufacturing and services, and edged higher in construction and retail, and thus continued to register above-average levels in every sector. Moreover, the survey's employment climate indicator also picked up to a four-month high of 110, well above its long-term average, similarly with favourable labour market conditions reported in every sector.

    At 20:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at -28.5473, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 26.1944. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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