French Business and Consumer Confidence Rise in July, Services Sector Rebounds
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
- French business confidence rose to 97 in July, a 4-month high.
- French services PMI rebounded to 49.8, a 7-month high.
- French consumer confidence increased to 86 in July, beating forecasts.
French economic sentiment and business activity demonstrated a broad improvement in July, with multiple indicators exceeding expectations. The overall business confidence index rose to 97, surpassing the 95 forecast and marking a four-month high. Manufacturing confidence also edged up to 101 from 100 in June, supported by better past production levels. A significant rebound in the services sector drove overall activity, with the flash services PMI reaching a 7-month high of 49.8, outperforming the 47.5 expectation. This strength in services helped stabilize the composite PMI at 49.6, despite the manufacturing PMI slightly dipping to 50.0. Furthermore, consumer confidence advanced to its highest level since March, contributing to the overall brighter economic picture for France.
French consumer confidence continued its recovery in July, with the index rising to 86. This was an increase from 84 in the prior month and surpassed the expected 85. Households reported improved sentiment regarding their personal financial situation, both for the past and future. The balance of opinion for the past financial situation increased by two points to -26, while the balance for the expected financial situation also rose by two points to -14. Despite the improvement, the July reading remains below the February peak of 92 and the long-term average of 100.