30 July 2003, 11:01  French July Composite Business Confidence index +91 vs +90 in June

PARIS, July 30 - French national statistics office INSEE said the "composite" business climate index in its July business sentiment survey rose to 91 from a June index of 90. Economists polled by had expected business morale to remain broadly stable or improve marginally, with a consensus prediction of 91 for the composite index. The composite index gauges sentiment on the business cycle by combining the survey's seven main components: stocks, past production levels, total and foreign order book levels, personal price and production outlooks and views on general production. A positive figure shows the percentage points by which the percentage of respondents saying things had improved or risen outnumbered the percentage saying things had worsened or fallen. July June May Apr Mar Feb Composite business climate 91 90 92 93 95 98 Recent past output -19 -10 -12 -11 -2 0 Finished product stocks 15 13 10 10 8 9 Overall orders and demand -29 -36 -33 -25 -25 -22 Foreign orders and demand -28 -37 -28 -26 -21 -12 Personal business outlook -4 -14 -7 -6 -7 1 Personal prices outlook -12* -19 -13 -6* -4 -5 General business outlook -37 -33 -32 -58 -53 -35 *Figures for January, April, July and October correspond to answers given in INSEE's quarterly industrial survey, expressed in quantitative terms which are then translated into qualitative terms. The indicators for those months must be considered separately as they underestimate rises and falls in prices, INSEE said. ((Reporting Paris Newsroom; editing by Catherine Bremer brian.love@.com; Messaging: For related news, double click on one of the following codes: [E] [M] [T] [D] [RNP] [PTD] [EMK] [FR] [WEU] [EUROPE] [ECI] [MCE] [NEWS] [LEN] [RTRS] [EU] [FR/BUS] Wednesday, 30 July 2003 06:49:59 RTRS [nPAB006013]

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