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French industry morale fell in September to lowest level since March 2017

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French industry morale fell in September to lowest level since March 2017
FILE PHOTO: An employee works on an engine at the Renault SA car factory in Flins, near Paris, France, February 23, 2017. REUTERS/Benoit Tessier   -   Copyright  Benoit Tessier(Reuters)
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PARIS (Reuters) – Morale in the French industrial sector fell in September to its lowest level since March 2017, according to data from the INSEE state statistics agency, in a further sign that the euro zone’s second-biggest economy is going through a sluggish period.

The reading for industrial confidence in September fell to 107 points from 110 points in August – worse than a Reuters forecast which predicted a September reading of 109.40 points.

There was, however, a slightly better reading for the levels of confidence in the services sector, which edged up to 105 points in September from 104 in August.

Data published earlier this month showed that the French economy had meagre growth of 0.2 percent, the same as in the first quarter. The French government is expecting economic growth of 1.7 percent for 2018 overall.

For details from INSEE:

For a graphic:

(Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)

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