27 August 2020

2020- n° 215
In August 2020, both the French business climate and the employement climate have continued to recover Business climate indicator and turning point indicator - August 2020

In August 2020, the business climate has continued its recovery started in May. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has gained 7 points. At 91, the business climate is however still below its long-term average (100), and a fortiori below its relatively high pre-lockdown level (105). This sharp improvement is explained above all by the significant rise in the balances of opinion on the development of activity over the past three months, common to all major sectors of activity.

Informations rapides

N^o 215

Paru le :Paru le27/08/2020

Prochaine parution le : 19/09/2025 at 08:45 - September 2025

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Données

(xls, 161 Ko)

Warning

Since the definitive data of April 2020, the correction mode of non-response has been modified compared to the previous method which was to carry on past answers from non-responding companies. We have, since then, considered that non-responding units would have answered as their elementary stratum’s units average.

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Documentation

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Sommaire

The business climate has continued to improve
The employment climate has also continued its recovery
Revisions
For further information

The business climate has continued to improve

Graphique
Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
1998-01	108.9
1998-02	110.2
1998-03	113.1
1998-04	111.0
1998-05	112.1
1998-06	113.3
1998-07	112.4
1998-08	111.6
1998-09	109.5
1998-10	106.9
1998-11	105.0
1998-12	102.2
1999-01	102.3
1999-02	102.3
1999-03	100.7
1999-04	101.6
1999-05	103.3
1999-06	102.7
1999-07	107.6
1999-08	110.5
1999-09	113.7
1999-10	115.5
1999-11	117.1
1999-12	118.5
2000-01	115.4
2000-02	115.9
2000-03	116.7
2000-04	116.5
2000-05	115.8
2000-06	117.1
2000-07	116.7
2000-08	117.2
2000-09	117.3
2000-10	116.0
2000-11	113.7
2000-12	113.2
2001-01	112.1
2001-02	112.1
2001-03	112.1
2001-04	107.1
2001-05	104.9
2001-06	103.9
2001-07	101.8
2001-08	100.5
2001-09	98.8
2001-10	94.4
2001-11	94.4
2001-12	95.0
2002-01	96.3
2002-02	97.0
2002-03	98.8
2002-04	101.9
2002-05	103.1
2002-06	102.2
2002-07	99.5
2002-08	98.7
2002-09	97.7
2002-10	96.0
2002-11	97.4
2002-12	99.8
2003-01	96.5
2003-02	95.6
2003-03	90.3
2003-04	88.3
2003-05	92.8
2003-06	92.8
2003-07	95.1
2003-08	95.9
2003-09	95.9
2003-10	96.9
2003-11	100.9
2003-12	102.1
2004-01	105.9
2004-02	104.9
2004-03	105.1
2004-04	105.9
2004-05	105.7
2004-06	105.2
2004-07	106.6
2004-08	106.7
2004-09	106.6
2004-10	107.6
2004-11	105.1
2004-12	106.3
2005-01	105.9
2005-02	106.1
2005-03	105.7
2005-04	104.9
2005-05	102.7
2005-06	103.8
2005-07	104.3
2005-08	104.2
2005-09	103.6
2005-10	106.4
2005-11	106.4
2005-12	107.7
2006-01	109.0
2006-02	107.2
2006-03	107.2
2006-04	108.0
2006-05	109.5
2006-06	109.0
2006-07	110.7
2006-08	111.0
2006-09	111.4
2006-10	111.3
2006-11	112.1
2006-12	110.6
2007-01	110.6
2007-02	112.2
2007-03	112.6
2007-04	113.3
2007-05	113.7
2007-06	114.8
2007-07	114.1
2007-08	112.8
2007-09	112.0
2007-10	111.3
2007-11	111.4
2007-12	111.1
2008-01	109.9
2008-02	108.6
2008-03	108.3
2008-04	105.6
2008-05	102.9
2008-06	100.1
2008-07	96.0
2008-08	94.7
2008-09	92.1
2008-10	83.6
2008-11	80.3
2008-12	76.7
2009-01	75.2
2009-02	72.8
2009-03	70.0
2009-04	71.1
2009-05	74.6
2009-06	77.3
2009-07	79.4
2009-08	83.1
2009-09	86.4
2009-10	89.0
2009-11	91.1
2009-12	91.7
2010-01	93.7
2010-02	94.1
2010-03	93.4
2010-04	97.5
2010-05	98.5
2010-06	98.2
2010-07	100.3
2010-08	102.5
2010-09	104.0
2010-10	105.0
2010-11	105.2
2010-12	106.9
2011-01	107.8
2011-02	108.5
2011-03	109.4
2011-04	109.1
2011-05	108.1
2011-06	108.4
2011-07	106.3
2011-08	101.2
2011-09	98.0
2011-10	96.8
2011-11	94.9
2011-12	93.5
2012-01	92.8
2012-02	92.7
2012-03	95.2
2012-04	95.9
2012-05	92.5
2012-06	91.4
2012-07	89.4
2012-08	88.9
2012-09	87.4
2012-10	85.4
2012-11	87.3
2012-12	87.9
2013-01	87.8
2013-02	87.8
2013-03	85.9
2013-04	84.5
2013-05	85.5
2013-06	86.6
2013-07	88.6
2013-08	91.7
2013-09	94.8
2013-10	94.5
2013-11	93.6
2013-12	93.6
2014-01	94.2
2014-02	94.0
2014-03	95.3
2014-04	95.1
2014-05	94.8
2014-06	93.7
2014-07	93.1
2014-08	91.9
2014-09	91.1
2014-10	91.3
2014-11	93.0
2014-12	93.2
2015-01	93.6
2015-02	94.4
2015-03	95.5
2015-04	96.6
2015-05	97.5
2015-06	98.3
2015-07	98.7
2015-08	100.2
2015-09	99.9
2015-10	100.9
2015-11	101.0
2015-12	99.5
2016-01	101.3
2016-02	100.4
2016-03	100.5
2016-04	100.5
2016-05	102.2
2016-06	100.6
2016-07	101.2
2016-08	100.9
2016-09	101.2
2016-10	101.5
2016-11	101.8
2016-12	104.0
2017-01	103.7
2017-02	104.2
2017-03	104.1
2017-04	104.4
2017-05	105.3
2017-06	106.9
2017-07	107.7
2017-08	108.7
2017-09	109.2
2017-10	109.1
2017-11	110.4
2017-12	111.4
2018-01	110.7
2018-02	109.7
2018-03	109.3
2018-04	108.5
2018-05	106.7
2018-06	106.5
2018-07	105.8
2018-08	105.3
2018-09	105.1
2018-10	104.0
2018-11	104.5
2018-12	101.7
2019-01	102.2
2019-02	103.2
2019-03	104.8
2019-04	105.4
2019-05	106.1
2019-06	106.2
2019-07	105.2
2019-08	105.4
2019-09	106.3
2019-10	105.5
2019-11	105.9
2019-12	105.1
2020-01	104.8
2020-02	105.1
2020-03	94.4
2020-04	53.4
2020-05	60.2
2020-06	78.4
2020-07	84.3
2020-08	91.1

graphiqueFrench business climate composite indicator

tableauBusiness and employment climates

Business and employment climates
	Apr. 20	May 20	June 20	July 20	Aug. 20
Business climates
France	53	60	78	84	91
Manufacturing	68	71	78	82	93
Building construction*	n.a.	n.a.	n.a.	n.a.	n.a.
Services	41	52	78	88	94
Retail trade	60	63	84	88	93
Wholesale trade		66		80
Employment Climate Indicator
Employment	49	53	67	76	88

* c.f. "For further information"
Source: INSEE, Business tendency surveys

The employment climate has also continued its recovery

In August 2020, the employment climate has continued to recover sharply, after the low point reached in April. At 88, it has gained 12 points compared to July, but it still remains below its pre-lockdown level. This strong improvement in the employment climate is largely due to the improvement in the balance of opinion on the past change in staff size in services, mainly in services except temporary work agencies.

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
1998-01	102.4
1998-02	103.9
1998-03	105.7
1998-04	107.1
1998-05	107.7
1998-06	108.7
1998-07	109.9
1998-08	108.2
1998-09	106.6
1998-10	105.7
1998-11	105.5
1998-12	104.9
1999-01	104.2
1999-02	105.4
1999-03	106.5
1999-04	107.8
1999-05	108.0
1999-06	108.5
1999-07	109.2
1999-08	111.6
1999-09	114.0
1999-10	116.1
1999-11	117.0
1999-12	117.5
2000-01	117.9
2000-02	116.0
2000-03	114.3
2000-04	112.6
2000-05	116.0
2000-06	119.3
2000-07	116.5
2000-08	118.1
2000-09	119.1
2000-10	119.3
2000-11	121.2
2000-12	119.7
2001-01	117.8
2001-02	118.4
2001-03	117.4
2001-04	116.3
2001-05	112.7
2001-06	110.9
2001-07	107.5
2001-08	107.8
2001-09	107.5
2001-10	108.2
2001-11	103.1
2001-12	105.1
2002-01	102.8
2002-02	101.0
2002-03	102.6
2002-04	106.6
2002-05	104.3
2002-06	103.0
2002-07	103.8
2002-08	101.6
2002-09	98.9
2002-10	95.5
2002-11	98.5
2002-12	97.4
2003-01	98.4
2003-02	96.6
2003-03	93.2
2003-04	91.9
2003-05	91.1
2003-06	93.4
2003-07	94.4
2003-08	95.0
2003-09	95.2
2003-10	95.7
2003-11	95.0
2003-12	97.6
2004-01	99.1
2004-02	98.0
2004-03	101.1
2004-04	101.4
2004-05	104.0
2004-06	101.2
2004-07	102.0
2004-08	102.0
2004-09	101.6
2004-10	103.1
2004-11	103.3
2004-12	102.1
2005-01	102.4
2005-02	102.1
2005-03	104.6
2005-04	102.3
2005-05	102.9
2005-06	102.3
2005-07	102.7
2005-08	103.4
2005-09	103.8
2005-10	104.1
2005-11	103.8
2005-12	103.2
2006-01	104.1
2006-02	104.0
2006-03	104.6
2006-04	107.0
2006-05	108.1
2006-06	110.0
2006-07	109.8
2006-08	109.0
2006-09	107.9
2006-10	108.9
2006-11	110.3
2006-12	110.9
2007-01	109.2
2007-02	111.2
2007-03	110.9
2007-04	111.5
2007-05	113.1
2007-06	112.8
2007-07	111.0
2007-08	112.4
2007-09	113.1
2007-10	111.5
2007-11	112.9
2007-12	114.4
2008-01	113.7
2008-02	113.8
2008-03	112.1
2008-04	112.4
2008-05	108.2
2008-06	104.8
2008-07	105.5
2008-08	100.9
2008-09	99.7
2008-10	95.4
2008-11	88.5
2008-12	83.6
2009-01	81.1
2009-02	79.6
2009-03	74.0
2009-04	74.6
2009-05	73.6
2009-06	74.8
2009-07	78.5
2009-08	83.1
2009-09	82.4
2009-10	84.4
2009-11	86.7
2009-12	89.0
2010-01	90.4
2010-02	90.9
2010-03	93.4
2010-04	95.5
2010-05	97.4
2010-06	98.5
2010-07	98.8
2010-08	99.2
2010-09	100.8
2010-10	103.5
2010-11	104.5
2010-12	105.3
2011-01	103.8
2011-02	109.8
2011-03	108.8
2011-04	109.0
2011-05	110.6
2011-06	110.7
2011-07	109.2
2011-08	105.1
2011-09	103.4
2011-10	100.4
2011-11	100.5
2011-12	98.8
2012-01	97.6
2012-02	97.2
2012-03	98.8
2012-04	97.7
2012-05	95.0
2012-06	93.9
2012-07	92.5
2012-08	93.5
2012-09	91.4
2012-10	91.8
2012-11	90.3
2012-12	89.9
2013-01	92.4
2013-02	89.3
2013-03	88.5
2013-04	87.0
2013-05	86.6
2013-06	89.1
2013-07	90.3
2013-08	90.9
2013-09	92.3
2013-10	94.7
2013-11	93.1
2013-12	95.1
2014-01	95.3
2014-02	94.6
2014-03	95.4
2014-04	98.0
2014-05	97.1
2014-06	95.5
2014-07	95.9
2014-08	94.6
2014-09	94.7
2014-10	94.6
2014-11	94.5
2014-12	94.8
2015-01	94.0
2015-02	96.1
2015-03	95.4
2015-04	97.5
2015-05	97.6
2015-06	99.3
2015-07	99.7
2015-08	100.5
2015-09	100.3
2015-10	100.7
2015-11	101.6
2015-12	100.8
2016-01	101.9
2016-02	100.6
2016-03	99.6
2016-04	100.5
2016-05	102.1
2016-06	101.5
2016-07	104.0
2016-08	103.2
2016-09	104.6
2016-10	104.8
2016-11	104.8
2016-12	106.5
2017-01	105.2
2017-02	104.4
2017-03	107.2
2017-04	106.3
2017-05	107.0
2017-06	107.6
2017-07	107.1
2017-08	105.7
2017-09	106.8
2017-10	108.4
2017-11	108.2
2017-12	108.7
2018-01	109.1
2018-02	109.8
2018-03	109.6
2018-04	108.8
2018-05	109.0
2018-06	109.7
2018-07	108.1
2018-08	107.6
2018-09	107.2
2018-10	107.1
2018-11	105.3
2018-12	104.8
2019-01	105.1
2019-02	106.8
2019-03	107.0
2019-04	106.8
2019-05	104.8
2019-06	106.2
2019-07	105.9
2019-08	105.2
2019-09	105.8
2019-10	105.8
2019-11	106.4
2019-12	106.8
2020-01	104.6
2020-02	104.9
2020-03	96.1
2020-04	48.7
2020-05	53.0
2020-06	66.8
2020-07	76.3
2020-08	88.3

graphiqueFrench employment climate composite indicator

Revisions

The French business climate and the sectoral business climate in services for July 2020, as well as the employment climate, have been revised downwards by one point. Those revisions are mainly explained by the inclusion of late responses from companies.

For further information

The business climate indicator summarises the information provided by the surveys in manufacturing, services, trade (retail and wholesale), and building construction. It is built from 26 balances of opinion from these surveys. The employment indicator is based on the 10 balances of employment, past and expected, from the surveys in manufacturing, services, retail trade and building construction.

The balances of opinion concerning employment in services that are used in the employment climate distinguish the services excluding temporary work employment sector from temporary work agencies. For the latter, the balances on past and expected workforce size are not weighted, unlike the other sectors.

Finally, specifically concerning the building industry, all the balances of opinion resulting from the survey are published in the Informations Rapides issue dedicated to this sector and in the additional series available online. However, it appeared during the health crisis that the synthetic indicator usually calculated from some of these balances of opinion tended to smooth fluctuations in activity measured in the building industry. This is why an overhaul of this synthetic indicator is currently being studied in this sector in order to, if possible, improve its predictive qualities. The French business climate indicator has continued to take into account all the sectors studied, including the building construction industry; its methodology is unchanged.

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