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Business sentiment index, which is compiled by Bank of France reached its highest level since March, 2011. Latest data have been pointing that Euro Zone's second largest economy is finally gaining some ground both in soft and hard data.
While German economy has remained strong and recovered sharply after Euro Zone debt crisis, France has been stagnating all along. France twice failed to reach its budget deficit target. Both manufacturing and services had remained stagnated at least till first quarter of 2015. Latest survey showed business reading has improved to 101 in January from 100 in December.
Any positive surprises from Euro Zone, would not only good news for economic recovery, will also benefit political landscape as well. Weak growth, high unemployment coupled with austerity have led to the rise of left wing and Euro-skeptic politicians across the monetary union, threatening the very fabric of European politics. Now, with better growth, pro-austerity and pro-Euro campaigners have tide on their side.
However, these welcome surprises need to be consistent and frequent as many countries like France are far from full recovery, as unemployment hovers above 10%.
Euro is currently trading at 1.118 against Dollar.
