24 September 2019

2019- n° 246

In September 2019, the business climate has improved a little in services Monthly survey of services - September 2019

According to business managers surveyed in September 2019, the business climate in services has slightly increased. The business climate composite indicator has gained one point. At 106, it stands well above its long-term average (100).

The balances of opinion on the general outlook of business managers on their sector, on expected activity and on expected demand have increased a little and stand above their long-term average. That on past activity has slightly fallen back but remains above its average.

The balance on past employment has fallen back, particularly due to services except temporary work agencies. It has fallen back to its long-term average level, as in July. That on expected employment has continued to grow slightly and stands above its average level.

The balances on past and expected investments are both stable, slightly above their average.

In September 2019, the turning point indicator remains in the area indicating a favourable short-term economic situation.

In all sub-sectors, the business climate indicator is above its long-term average. The climate has clearly deteriorated in information-communication while it has improved in all other sub-sectors. In particular, it has sharply improved in professional, scientific end technical activities.

In road transport, the climate indicator has recovered a little after a sharp decline in August. It has gained one point and stands at 106, well above its average level. Only the balance on past employment has slightly decreased and stands below its average. That on expected activity has sharply bounced back and stands clearly above its average.

In accommodation and food services, the climate has gained one point. At 104, it stands above its average. The balances on expected activity, on expected demand and on expected employment have significantly recovered. In contrast, the balance on past activity has fallen back. All balances of opinion are above its average, except that on expected activity.

In information-communication, the business climate has lost three points but, at 102, stands above its average. All balances of opinion have gone down except that on expected employment, which is stable. Those on expected demand and past employment have plummeted. Only the balances on expected activity and general outlook are above their average level.

In real estate activities, the climate has gained two points again, to 101, and has moved above its average for the first time since September 2017. The balance on past employment has sharply recovered whereas that on expected employment has fallen back. The balances on past activity and general outlook are slightly below their average, all the others are above theirs.

The business climate in professional, scientific and technical activities has gained four points. At 111, it stands largely above its long-term average and has reached its highest level since January 2008. Only the balance on past employment has sharply declined. All balances are above their average.

In administrative and support service activities, the climate has improved again and gained two points. At 104, it stands above its average. Most of the balances have increased; only those on past activity and on past employment have weakened.