PARIS (MNI) – The following is the text of the overview of the
Bank of France’s July monthly business survey:

The business sentiment indicator in industry* stood at 101 in July,
as in June.

The business sentiment indicator in services* stood at 96 in July,
after 97 in June.

According to the monthly index of business activity (MIBA), GDP is
expected to increase by 0.3% in the third quarter of 2010 (first
estimate).

* Calculations are based on survey data smoothed over three
months.

SUMMARY

In July, industrial activity increased at a similar pace to the
previous month. All sectors improved; only “other transport equipment”,
excluding cars, remained stable.

The capacity utilisation rate remained almost unchanged and is
still below its long-term average.

Order books stayed at close to normal levels.

Inventories of final goods remained stable at normal levels.

Forecasts point to slight growth in production levels in the short
term.

Activity in the services sector continued to increase, buoyed in
particular by growth in temporary work.

Prices barely changed. Staff levels continued to rise, but at a
slacker pace than in June.

The outlook for activity indicates an upswing over the coming
months.

–Paris newsroom +331 42 71 55 40, e-mail paris@marketnews.com

[TOPICS: M$F$$$,M$X$$$,M$$EC$,MT$$$$]