23 November 2017

2017- n° 306

In November 2017, the business climate in services is at the highest since May 2011 Monthly survey of services - November 2017

According to business managers surveyed in November 2017, the business climate in services has improved anew. The business climate composite indicator has gained two points and reached 109, its highest level since May 2011.

The turning point indicator remains in the area indicating a favourable short-term economic situation.

The balances of opinion on general outlook, on expected demand and past activity have increased in November. The one on expected activity remains stable. All are well above their long-term average.

The balance on past employment has sharply increased in November, exceeding even more its long-term average. In contrast, the balance on expected employment has declined due to services, except temporary work agencies. However, it remains above its average.

The business climate indicator has improved and stands well above its long-term average in almost all the service sub-sectors. The only exception is the sector of real estate activities, where the climate has continued to deteriorate.

In road transport, despite the decrease in the balances on expected employment and past activity, the business climate has gained three points because of the strong increase in the balances on expected activity, past employment and general outlook. At 116, it stands at its highest level since July 2007.

In accommodation and food services, the business climate has gained two points (108) mainly due to the rise in the balances on past employment and on expected activity. However, the balances on past activity and expected employment have declined.

In information and communication, the business climate has gone up anew (+3 points). At 107, it has reached a level unseen since July 2011. The different balances have grown except the one on expected employment which is steady. All of them are above their long-term average.

The business climate has continued to worsen in real estate activities and has returned to its lowest level since June 2013. It has lost eleven points because of the fall in balances on expected activity, on expected demand, on past employment and on general outlook, mainly in the sector of housing rental.

The business climate in professional, scientific and technical activities has gained two points and reached its highest level since January 2008. The balances on expected activity and demand, past employment, and general outlook have gone up. In contrast, the one on expected employment has fallen back. All the balances are above their average.

In administrative and support service activities, the business climate indicator has increased for the fourth month in a row. At 110, it stands at its highest level since May 2011. All balances have climbed except the one on expected activity, in sharp decline. The balances are all above their average.