French business confidence rises

French business confidence rose unexpectedly in November, data showed today.

French business confidence rose unexpectedly in November, data showed today.

A survey of company leaders by national statistics office INSEE said confidence improved to 110 in November from 108 in October.

The finding indicates that a round of transport strikes, the strong euro and high oil prices have not dented bosses' optimism.

President Nicolas Sarkozy has said two weeks of strikes by transport workers in November could hit the economy.

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Recent data showed an acceleration in French growth to 0.7 per cent in the third quarter, but analysts have been looking for the momentum to slow in the fourth quarter of the year as the euro's strength and high oil prices bite.

A separate report from the housing ministry today showed housing starts rose 10.5 per cent in the three months to the end of October.