Global| Mar 27 2008French Service Sector Continues to Lose Momentum
Summary
The climate indicator for France’s Service sector noted lower by one point in March continuing a slip that began in mid-2007. The index now stands in the 77th percentile of its range of values since 2000. The climate outlook is weaker [...]
The climate indicator for France’s Service sector noted lower by one point in March continuing a slip that began in mid-2007. The index now stands in the 77th percentile of its range of values since 2000. The climate outlook is weaker in the 67th percentile of its range.
The past observed sales rating is the best of the period at the top of its range since 2000 but the 3-month ahead expected result is only in the 48th percentile of its range, a sharp reversal in expectations form current conditions. Sales prices are expected are moderately high in the 70th percentile of their range. Employment while in the 92nd percentile as observed over the past three months is rated in the 70th percentile of its range for the next 3 months. Expectations are shifting lower in France’s services sector.
| France INSEE Services Survey Jan 2000-date | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Mar 08 |
Feb 08 |
Jan 08 |
Dec 07 |
%tile | Rank | Max | Min | Range | Mean | |
| Climate Indicator | 104 | 105 | 108 | 108 | 70.0 | 44 | 113 | 83 | 30 | 102 |
| Climate: 3Mo MAV | 106 | 107 | 109 | 111 | 74.7 | 31 | 113 | 85 | 28 | 102 |
| Climate: 12Mo MAV | 110 | 110 | 110 | 110 | 96.6 | 7 | 110 | 91 | 20 | 101 |
| Outlook | -1 | -1 | 2 | 3 | 67.7 | 41 | 9 | -22 | 31 | -1 |
| Sales | ||||||||||
| Observed over past 3 Months | 18 | 13 | 13 | 15 | 100.0 | 1 | 18 | -11 | 29 | 6 |
| Expected over next 3 Months | 3 | 10 | 14 | 8 | 48.1 | 62 | 17 | -10 | 27 | 7 |
| Sales Price | ||||||||||
| Observed over past 3 Months | 1 | 1 | 1 | 1 | 41.7 | 21 | 8 | -4 | 12 | 0 |
| Expected over next 3 Months | 2 | 0 | 0 | 0 | 70.0 | 11 | 5 | -5 | 10 | 0 |
| Employment | ||||||||||
| Observed over past 3 Months | 15 | 17 | 7 | 15 | 92.9 | 2 | 17 | -11 | 28 | 4 |
| Expected over next 3 Months | 12 | 19 | 14 | 11 | 70.8 | 7 | 19 | -5 | 24 | 5 |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
More Economy in Brief
