France Must Accelerate Reform Pace: Business Leaders

CEOs worldwide may be eyeing China right now, but European business leaders are also concerned about rumblings in an economy closer to home.

France’s economy has struggled to gather pace and this week, French Prime Minister Manuel Valls promised to step up the pace of economic reforms and make the French labor market more flexible.

August’s flurry of economic data shows an ongoing recovery, but one that lacks strong momentum. The INSEE business climate index showed that confidence inched higher in August, while the Markit purchasing managers’ index (PMI) showed business activity continuing to rise, but at a slightly slower rate than in the previous month.

Data out on Wednesday showed that France’s stubbornly high unemployment level crept lower in July. But economic growth flatlined in the second quarter.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam