French business managers’ confidence was slightly down in February from a month earlier as a sluggish performance of service and retail trade, the worst hit by the COVID-19 outbreak, has offset an improvement in manufacturing activity, the national statistics bureau INSEE said on Wednesday.
The business climate composite indicator, compiled from a survey on business managers in the main market sectors — manufacturing, services, construction, wholesale and retail — stood at 90 this month, lower than 91 recorded in January, and remained significantly below its long-term average of 100.
“This slight decrease reflects different moves depending on the business sector, in a context of a continuing health crisis,” INSEE said.
Compared to last month’s figures, the business climate in retail trade lost 4 points to 89, while that of services dropped to 88 from 92 reported in January. Manufacturing gained one point to 97.
Source: Bangladesh Sangbad Sangstha (BSS)