TABLE-French July business morale falls to 90

July 24 (Reuters) - The French statistics institute INSEE released the
following data for business morale on Tuesday.
MANUFACTURING INDUSTRY Apr 2012 May 2012 Jun 2012 Jul 2012
Composite business climate 95 93 91 90
Recent past output -3 -3 -7 -9
Finished product stock 10 12 11 11
Overall orders and demand -22 -29 -33 -30
Foreign orders and demand -25 -28 -30 -37
Personal business outlook -3 -2 -5 -8
General business outlook -21 -30 -35 -45

The composite index gauges business cycle sentiment by combining the
survey's seven main components: stocks, past production levels, total and
foreign order book levels, personal price and production outlooks and views on
general production.
Each component is calculated by subtracting the percentage of survey
respondents with a negative opinion from the percentage of respondents with a
positive opinion.
MORALE DATA FOR ALL INDUSTRIES Apr 2012 May 2012 Jun 2012 Jul 2012
France composite 95 91 89 87
Industry 95 93 91 90
Wholesale trade - 93 - 95
Building 99 97 97 95
Retail trade 97 92 95 89
Services 92 89 87 87
TURNING POINT INDICATORS
France composite -0.6 -0.7 -1.0 -1.0
Industry 0.0 -0.9 -0.9 -0.8
Wholesale trade - -0.5 - -0.6
Building -0.9 -1.0 -0.9 -1.0
Services 1.0 1.0 -0.9 -1.0