24 July 2018

2018- n° 188

In July 2018, the business climate remains stable in services Monthly survey of services - July 2018

According to business managers surveyed in July 2018, the business climate remains stable in services. The composite indicator which measures it has stood at 104 since May 2018, above its long-term average (100).

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

The balances of opinion on expected activity and on expected demand have increased again whereas that on past activity has declined sharply. The balance on general outlook has bounced back slightly. These balances stand above their long-term average.

The balances on selling prices have weakened markedly and stand well below their average.

The balance on past employment has deteriorated, including temporary work agencies, and comes back to its average. That on expected employment is virtually stable and remains well above its average level.

The balance on past result has recovered whereas that on expected result has decreased. They stand both above their long-term average.

The balance on difficulties in recruitment has gone down but remains at a high level.

The business climate is above its average in all sub-sectors except in real estate where it stands below and in information-communication where it has returned to it. It has improved in road transport and in accommodation and food service activities. It has weakened in information-communication, in real estate activities and in professional, scientific and technical activities. It remains steady in administrative and support service activities.

In road transport, the business climate has gained two points (114) and remains sharply above its average level. All the balances of opinion have gone up, particulary that on past activity. Moreover, they are all clearly above their long-term average.

In accommodation and food service activities, the business climate has increased by two points (109), well above its long-term average. The balances on past activity and on past employment have fallen whereas that on expected activity and on expected employment have recovered clearly. The balances on expected activity and general outlook are markedly above their average.

In information and communication, the climate has weakened and reached its average (100). The balances on general outlook, on past activity, and on past employment have declined slightly. The balances on expected activity and on expected demand have increased again but remain below their average level.

In real estate activities, the business climate, sharply below its average, has lost two points (86) due to the decline of the balances on past activity, on expected demand and on employment. The balances on general outlook and expected activity have recovered but are still markedly below their average.

In professional, scientific and technical activities, the business climate has lost two points. At 106, it stands however above its average level. All balances of opinion have worsened except that on expected demand. Nevertheless, all the balances remain above their average.

The climate has been stable since May 2018 in administrative and support service activities. At 108, it remains well above its average. The balances on past activity and on past employment have weakened whereas that on general outlook, on expected demand and on expected activity have increased. Only the balance on past employment is below its average.