French business confidence rose to the highest in 15 months in July, indicating that improving demand is helping to support an economy that’s stagnated for the past two years.
Sentiment among industrial executives increased to 95 in from 93 in June, national statistics office Insee in Paris said today. That’s above the reading of 94 that was the median forecast of 21 economists in a Bloomberg News survey. A broader index including the services, wholesale and construction industries climbed to 87 from 86.
The improvement suggests the euro area’s second-largest economy may be starting to stabilize after it slipped back into a recession this year. With the indexes below their long-term average, the recovery that President Francois Hollande trumpeted in his Bastille Day address last week remains elusive.
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