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French business morale sinks to 15-year low

Published 11/25/2008, 02:56 AM
Updated 11/25/2008, 03:00 AM

PARIS, Nov 25 (Reuters) - French business sentiment in November fell to its lowest level since October 1993 as gloom among the heads of domestic companies deepened as a result of the global financial crisis, data showed on Tuesday.

Statistics office INSEE's business confidence index fell to 80 from October's revised 87. Economists had expected a smaller drop to 85.

"According to business chiefs surveyed in November, the industrial situation has clearly worsened again," INSEE said. (Reporting by Brian Rohan and Tamora Vidaillet, editing by Mike Peacock)

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