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DATA SNAP: French Business Sentiment Stable In November

 
   By Geraldine Amiel 
   Of DOW JONES NEWSWIRES 
 

PARIS (Dow Jones)-- French business leaders' confidence was stable in November, missing expectations for a further increase after hitting a 12-month high in October, official data showed Tuesday.

Confidence among business managers polled by the national statistics office, Insee, was unchanged with an index reading of 89 in November. The market was expecting a rise to 91, according to a Dow Jones Newswires survey of economists.

Business confidence plunged to a trough of 69 in March but has been climbing ever since, as the French economy has been slowly emerging from the worst slump since World War II.

A decline in prices is boosting household purchasing power and, with the economy stabilizing, companies have stopped unloading their stocks on the market and have increased production.

In October, Prime Minister Francois Fillon said gross domestic product, which returned to growth in the second quarter, will probably expand more than 1% in 2010. The government's prior forecast was for growth of only 0.75% in 2010, after a contraction of 2.25% this year.

Business leaders' confidence on global order books was stable in November. Sentiment readings on the individual production outlook and stocks were also steady, while confidence about general output prospects and past production improved a touch compared with October, Insee said.

Agency Web site: www.insee.fr

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com;

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(END) Dow Jones Newswires

November 24, 2009 02:56 ET (07:56 GMT)


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