A composite indicator of French business confidence rose to 108 in April from 106 in March, according to a monthly survey of industrialists carried out by the statistics office Insee. The indicator reflects the level of positive business leader opinion on the overall output outlook, their own output outlook, past production, inventories and order books. General output expectations rose to +2 in April from -2 in March. The indicator represents the balance in percentage points between those expecting an overall rise in output and those predicting a decline. Economists had expected the composite indicator to remain stable and the general production outlook indicator to rise to zero. The indicator on industrialists' expectations on their own output stood at +14 in April, down from +15 the previous month. The indicator on past production was +18 in April compared with +8 in March. General price expectations were +20 in April versus +13 in March, while own price expectations fell to -3 in April from +2 in March. Insee said the indicator on inventory levels for April was +13, up from +11 in March. Overall order levels were -8 in April compared with -9 the month before, while the indicator on foreign order levels was +6 in April versus +4 in March. All figures relate to all branches of industry except the food sector.