24 October 2018

2018- n° 275

In October 2018, the business climate is stable in services Monthly survey of services - October 2018

According to business managers surveyed in October 2018, the business climate is stable in services. The composite indicator which measures it stands at 105 above its long-term average (100).

The turning point indicator remains in the area indicating an uncertain short-term economic situation.

The balances of opinion on past activity and on expected demand have weakened, that on past activity has even fallen below its average. The balance on expected activity has slightly increased, that on general outlook is stable. Both of them are above their average level.

The balances on past and on expected employment have slightly improved, in particular due to temporary

work agencies. They stand above their long-term average. However, the balance on difficulties in recruitment declared by the business managers has sharply increased from July to October and reached its highest level since October 2001.

The balances on investments have declined but remain above their average.

The balances on past and expected operating balance result and on cash position have deteriorated.

The business climate indicator has increased in road transport, in real estate activities, in professional, scientific and technical activities and in administrative and support service activities. It has decreased in accommodation and food services and in information-communication. It stands well above its average in transport, in accommodation and food service activities in professional activities and in administrative activities. It stands just below its average in information-communication and clearly below in real estate activities.

In road transport, the business climate has gained two points (109) and remains well above its average. All the balances of opinion have gone up, except that on past activity. All the balances are clearly above their long-term average.

In accommodation and food service activities, the business climate has lost one point. However, at 111, it remains sharply above its average. The balances on expected demand, on employment and on general outlook have decreased. Conversely, the balances on past and expected activity have sharply bounced back. Except the balance on expected employment, all balances are well above their average.

In information and communication, the climate has lost three points and fallen just below its average (99). This decline is due to the sharp fall in the balances on past activity, expected demand and general outlook. These balances stand below their average. In contrast, the balance on past employment has sharply grown.

In real estate activities, the business climate has improved again. However, at 91, it remains significantly below its average. The balances on expected demand and on past employment have increased. These on past and expected activity, on past employment and on general outlook stand well below their average level.

In professional, scientific and technical activities, the business climate has gained two points (109) and thus, stands well above its average level. All balances have gone up, except that on expected activity, which is stable. Otherwise, they are all above their average

The climate has gained two points in administrative and support service activities. At 110, it stands clearly above its average. All balances have risen and only the balance on past employment is below its long-term average.