Prior 97
It’s a notable miss on estimates as the French business climate worsens significantly amid the fallout from the US-Iran conflict. The reading is the lowest since February 2021.
Manufacturing confidence actually held up in April, recording a 100 reading compared to 99 in March. However, the were marked deteriorations in both services (94 compared to 96 previously) and the retail trade sector (94 compared to 100 previously). The employment index held steady at 95 on the month.
Higher energy prices that feeds to higher input cost inflation, which will also dampen domestic demand eventually, is what is weighing on the general outlook here.
Trouble, trouble.
This article was written by Justin Low at investinglive.com.