Bank of France October business sentiment to perform well

Business sentiment indicator of the France's central bank is likely to release today. The French flash services PMI figure was revised upwards from 52.3 to 52.7 last week.

The business sentiment indicator of the central bank is expected increase from 97 to 98 for October, estimates Societe Generale. The indicator is expected to be driven by the increased disposable income and higher corporate profit margins. 

As the above chart shows, the indicator has enough scope to reach the PMIs and the reliable INSEE survey, and exceeding to 99 is likely to be possible (long-term average = 100).