Virus fears broke the French PMI

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The confidence of French entrepreneurs has been hit hard by the corona crisis. The index measuring confidence shows the strongest decline ever before March, the French statistics agency reported.

The indicator dropped to a reading of 95 out of 105 in February. This is the sharpest decrease since the measurements started in 1980. French entrepreneurs are particularly pessimistic about future production. The statistical office reported that economic activity and household spending in France are now at 65 percent of normal levels.

To combat the virus outbreak, French public life has been largely shut down and many companies have been closed.

About the author

Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

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