French business climate degrades in June

According to business managers, the business climate composite indicator in France drops from 94 in May to 92 in June, with turning point indicators going from 0.5 to -1, French national statistics bureau Insee said on Wednesday.
The business climate is stable in the services sector, with the business climate composite indicator standing at 90, still below its long-term average (100). The turning point indicator remains in a favorable area at 0.6.
The situation gets worse in the building industry. The composite indicator has slumped by four points from 94 to 90, dropping to its lowest level since mid-2009. The turning-point indicator has gone from 0,8 to -0.6 and into the unfavorable zone.
The business climate in industry has also deteriorated compared to the previous month. The composite indicator has decreased by one point from 99 to 98, with the turning-point indicator switching from 0.0 to an unfavorable -0.9.
The business climate synthetic indicator slightly declines in the retail trade and in the trade and repair of motor vehicles. It has lost two points from 98 to 96 and has stayed still below its long-term average.