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French business climate stable in May as manufacturing sentiment rebounds

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French business climate stable in May as manufacturing sentiment rebounds

The business climate in France was stable in May as a strong improvement in the manufacturing industry offset falls in retail trade and services, data from the country's National Institute of Statistics and Economic Studies showed.

The business sentiment indicator came in at 106 in May, unchanged from April and higher than the long-term mean of 100. The composite indicator for the manufacturing industry unexpectedly rebounded, registering a three-point increase to 104, compared with the prior month's reading and the Econoday consensus estimate of 101.

The composite indicator for retail trade fell to 104 in May from 106 recorded in the previous month.

Business sentiment in the services sector deteriorated slightly, with the corresponding indicator dropping to 106 from 107. Employment climate also weakened, as the corresponding indicator fell two points to 105 from the prior month's 107.

Meanwhile, business climate in the building construction industry and the wholesale trade sector was stable.