16 December 2016
2016- n° 328In December 2016, the French business climate improves markedly Business climate indicator and turning point indicator - December 2016
After being almost stable since August 2015, equal or slightly above its long term average (100), the climate has improved markedly in December 2016. The composite indicator, compiled from the answers of business managers in the main sectors, has gained three points. It stands five points above its long term mean, reaching its highest level since the summer 2011. The climate has gained four points in services as in manufacturing, and three points in retail trade. However, it has lost one point in building construction.
The French business climate indicator has gained three points
After being almost stable since August 2015, equal or slightly above its long term average (100), the climate has improved markedly in December 2016. The composite indicator, compiled from the answers of business managers in the main sectors, has gained three points. It stands five points above its long term mean, reaching its highest level since the summer 2011. The climate has gained four points in services as in manufacturing, and three points in retail trade. However, it has lost one point in building construction.
graphiqueGraph2 – Turning point indicator
- Close to +1 (resp. −1): favourable business climate (unfavourable), between +0.3 and −0.3: uncertainty area
The turning point indicator for the French economy as a whole remains in the area showing a favourable economic outlook.
graphiqueGraph1 – French business climate composite indicator
tableauTable – Business climate and turning point indicators
| Aug. 16 | Sept. 16 | Oct. 16 | Nov. 16 | Dec. 16 | |
|---|---|---|---|---|---|
| Composite indicators | |||||
| France | 101 | 101 | 102 | 102 | 105 |
| Manufacturing | 101 | 103 | 103 | 102 | 106 |
| Building construction | 95 | 96 | 96 | 99 | 98 |
| Services | 101 | 102 | 101 | 102 | 106 |
| Retail trade | 103 | 102 | 100 | 104 | 107 |
| Wholesale trade | - | 98 | - | 96 | - |
| Turning point indicators | |||||
| France | –0,2 | 0,6 | 0,2 | 1,0 | 0,9 |
| Manufacturing | –0,1 | 0,2 | 0,3 | 0,4 | 0,9 |
| Building construction | –0,4 | 0,2 | –0,2 | 0,3 | 0,2 |
| Services | –0,4 | –0,2 | –0,4 | –0,2 | 0,8 |
| Wholesale trade | - | –0,4 | - | –0,1 | - |
- Source: INSEE, Business tendency surveys
Revisions
Compared to its first estimation, the composite indicator in manufacturing has been lowered by one point, because of late businesses' answers that have been taken into account.
Documentation
Methodology (pdf,125 Ko)
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