By Mark Deen
Nov. 9 (Bloomberg) -- French business confidence rose for an eighth month in October as government stimulus programs and demand for exports spurred the economy that emerged from recession earlier this year.
The Bank of France’s Business Sentiment Indicator for manufacturing climbed to 95 from 93 in September, the central bank said in an e-mailed statement today. Economists expected a reading of 93, according to the median of six forecasts gathered by Bloomberg News. The sentiment indicator for services was 84, the same as in the previous month.
French businesses benefited from a return to growth in the second quarter after being buffeted by a recession the previous year. With exports rising and government incentives stoking car sales, Europe’s second-largest economy will probably continue expanding through the end of the year, economists said.
“Orders are inching up and the global production outlook is improving,” said Pierre-Olivier Beffy, chief economist at Exane BNP Paribas in Paris. “The economy is benefiting in full from the effects of monetary and fiscal stimulus.”
To contact the reporters on this story: Mark Deen in Paris at markdeen@bloomberg.net
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