Informations Rapides ·
24 March 2022 · n° 78
In March 2022, the business climate has deteriorated in services Monthly survey of services - March 2022
According to the business managers surveyed in March 2022, the business climate has deteriorated in services. At 109, the business climate indicator that synthesizes it has lost three points but remains well above its long-term average (100).
According to the business managers surveyed in March 2022, the business climate has deteriorated in services. At 109, the business climate indicator that synthesizes it has lost three points but remains well above its long-term average (100).
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2022-03 | 108.7 |
| 2022-02 | 112.0 |
| 2022-01 | 105.5 |
| 2021-12 | 107.3 |
| 2021-11 | 113.9 |
| 2021-10 | 112.7 |
| 2021-09 | 109.8 |
| 2021-08 | 108.4 |
| 2021-07 | 110.8 |
| 2021-06 | 111.6 |
| 2021-05 | 106.3 |
| 2021-04 | 91.5 |
| 2021-03 | 93.7 |
| 2021-02 | 88.4 |
| 2021-01 | 91.3 |
| 2020-12 | 89.9 |
| 2020-11 | 77.9 |
| 2020-10 | 88.7 |
| 2020-09 | 94.3 |
| 2020-08 | 93.5 |
| 2020-07 | 88.7 |
| 2020-06 | 77.9 |
| 2020-05 | 51.6 |
| 2020-04 | 41.6 |
| 2020-03 | 92.9 |
| 2020-02 | 106.0 |
| 2020-01 | 106.1 |
| 2019-12 | 106.4 |
| 2019-11 | 106.1 |
| 2019-10 | 105.7 |
| 2019-09 | 105.5 |
| 2019-08 | 105.0 |
| 2019-07 | 105.0 |
| 2019-06 | 105.7 |
| 2019-05 | 105.4 |
| 2019-04 | 105.4 |
| 2019-03 | 104.7 |
| 2019-02 | 103.6 |
| 2019-01 | 103.6 |
| 2018-12 | 102.0 |
| 2018-11 | 103.7 |
| 2018-10 | 103.2 |
| 2018-09 | 104.4 |
| 2018-08 | 104.0 |
| 2018-07 | 104.4 |
| 2018-06 | 104.5 |
| 2018-05 | 104.1 |
| 2018-04 | 105.8 |
| 2018-03 | 106.6 |
| 2018-02 | 106.5 |
| 2018-01 | 107.5 |
| 2017-12 | 108.4 |
| 2017-11 | 107.2 |
| 2017-10 | 106.6 |
| 2017-09 | 106.4 |
| 2017-08 | 105.9 |
| 2017-07 | 103.8 |
| 2017-06 | 103.4 |
| 2017-05 | 102.6 |
| 2017-04 | 103.1 |
| 2017-03 | 103.2 |
| 2017-02 | 102.8 |
| 2017-01 | 101.7 |
| 2016-12 | 103.5 |
| 2016-11 | 100.9 |
| 2016-10 | 100.8 |
| 2016-09 | 100.9 |
| 2016-08 | 100.3 |
| 2016-07 | 100.5 |
| 2016-06 | 99.2 |
| 2016-05 | 100.8 |
| 2016-04 | 98.5 |
| 2016-03 | 99.6 |
| 2016-02 | 100.0 |
| 2016-01 | 100.1 |
| 2015-12 | 97.3 |
| 2015-11 | 99.4 |
| 2015-10 | 99.7 |
| 2015-09 | 97.7 |
| 2015-08 | 98.8 |
| 2015-07 | 97.7 |
| 2015-06 | 97.1 |
| 2015-05 | 95.7 |
| 2015-04 | 94.2 |
| 2015-03 | 92.7 |
| 2015-02 | 91.9 |
| 2015-01 | 91.6 |
| 2014-12 | 91.7 |
| 2014-11 | 91.7 |
| 2014-10 | 91.7 |
| 2014-09 | 91.5 |
| 2014-08 | 92.0 |
| 2014-07 | 93.0 |
| 2014-06 | 92.7 |
| 2014-05 | 92.6 |
| 2014-04 | 93.7 |
| 2014-03 | 93.4 |
| 2014-02 | 92.5 |
| 2014-01 | 92.7 |
| 2013-12 | 91.3 |
| 2013-11 | 92.8 |
| 2013-10 | 92.1 |
| 2013-09 | 92.6 |
| 2013-08 | 89.1 |
| 2013-07 | 87.2 |
| 2013-06 | 86.7 |
| 2013-05 | 85.5 |
| 2013-04 | 84.1 |
| 2013-03 | 85.0 |
| 2013-02 | 87.7 |
| 2013-01 | 88.9 |
| 2012-12 | 87.9 |
| 2012-11 | 86.3 |
| 2012-10 | 86.9 |
| 2012-09 | 88.1 |
| 2012-08 | 88.3 |
| 2012-07 | 90.3 |
| 2012-06 | 90.7 |
| 2012-05 | 92.7 |
| 2012-04 | 96.2 |
| 2012-03 | 94.2 |
| 2012-02 | 92.9 |
| 2012-01 | 93.5 |
| 2011-12 | 95.4 |
| 2011-11 | 95.7 |
| 2011-10 | 97.8 |
| 2011-09 | 98.8 |
| 2011-08 | 100.9 |
| 2011-07 | 105.2 |
| 2011-06 | 107.2 |
| 2011-05 | 107.7 |
| 2011-04 | 109.0 |
| 2011-03 | 110.3 |
| 2011-02 | 109.1 |
| 2011-01 | 107.0 |
| 2010-12 | 106.8 |
| 2010-11 | 104.8 |
| 2010-10 | 102.9 |
| 2010-09 | 101.7 |
| 2010-08 | 100.8 |
| 2010-07 | 99.3 |
| 2010-06 | 98.5 |
| 2010-05 | 99.4 |
| 2010-04 | 97.8 |
| 2010-03 | 94.7 |
| 2010-02 | 94.5 |
| 2010-01 | 94.3 |
| 2009-12 | 92.9 |
| 2009-11 | 92.4 |
| 2009-10 | 91.1 |
| 2009-09 | 88.0 |
| 2009-08 | 84.9 |
| 2009-07 | 82.4 |
| 2009-06 | 78.8 |
| 2009-05 | 74.3 |
| 2009-04 | 70.4 |
| 2009-03 | 70.3 |
| 2009-02 | 75.3 |
| 2009-01 | 76.5 |
| 2008-12 | 79.0 |
| 2008-11 | 82.0 |
| 2008-10 | 85.9 |
| 2008-09 | 94.2 |
| 2008-08 | 96.1 |
| 2008-07 | 97.6 |
| 2008-06 | 101.8 |
| 2008-05 | 104.8 |
| 2008-04 | 107.2 |
| 2008-03 | 108.7 |
| 2008-02 | 108.6 |
| 2008-01 | 110.4 |
| 2007-12 | 109.0 |
| 2007-11 | 110.1 |
| 2007-10 | 110.0 |
| 2007-09 | 111.3 |
| 2007-08 | 112.0 |
| 2007-07 | 112.9 |
| 2007-06 | 112.3 |
| 2007-05 | 112.6 |
| 2007-04 | 112.8 |
| 2007-03 | 113.0 |
| 2007-02 | 112.1 |
| 2007-01 | 110.7 |
| 2006-12 | 111.3 |
| 2006-11 | 112.8 |
| 2006-10 | 110.7 |
| 2006-09 | 110.5 |
| 2006-08 | 110.3 |
| 2006-07 | 110.2 |
| 2006-06 | 109.1 |
| 2006-05 | 110.3 |
| 2006-04 | 107.8 |
| 2006-03 | 107.6 |
| 2006-02 | 106.3 |
| 2006-01 | 108.6 |
| 2005-12 | 106.7 |
| 2005-11 | 106.4 |
| 2005-10 | 108.4 |
| 2005-09 | 107.0 |
| 2005-08 | 107.3 |
| 2005-07 | 107.7 |
| 2005-06 | 108.3 |
| 2005-05 | 106.1 |
| 2005-04 | 108.0 |
| 2005-03 | 108.2 |
| 2005-02 | 106.3 |
| 2005-01 | 106.5 |
graphiqueBusiness climate composite indicator
- Source: INSEE
Business managers’ expectations have deteriorated
In March 2022, the business managers are less optimistic than in the previous month about their activity prospects. The balances of opinion on the general business outlook for the sector, on expected activity and on expected demand have decreased sharply. Nevertheless, these three balances remain above their respective averages. After a sharp decline in February, the balance on economic uncertainty has rebounded slightly.
The balance of opinion on activity over the past three months is virtually stable and remains above its average.
The balance of opinion on the recent change in selling prices is stable. The one on the expected change in selling prices has decreased. Both remain at high levels, well above their respective averages.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2022-03 | 6.5 |
| 2022-02 | 9.0 |
| 2022-01 | 8.0 |
| 2021-12 | 5.5 |
| 2021-11 | 6.6 |
| 2021-10 | 2.9 |
| 2021-09 | 1.8 |
| 2021-08 | 4.0 |
| 2021-07 | 5.2 |
| 2021-06 | 0.8 |
| 2021-05 | -0.6 |
| 2021-04 | -8.1 |
| 2021-03 | -8.0 |
| 2021-02 | -10.9 |
| 2021-01 | -9.4 |
| 2020-12 | -8.1 |
| 2020-11 | -12.7 |
| 2020-10 | -10.3 |
| 2020-09 | -4.8 |
| 2020-08 | -5.4 |
| 2020-07 | -7.0 |
| 2020-06 | -12.3 |
| 2020-05 | -22.6 |
| 2020-04 | -22.6 |
| 2020-03 | -3.7 |
| 2020-02 | 0.7 |
| 2020-01 | 0.3 |
| 2019-12 | 0.1 |
| 2019-11 | -0.2 |
| 2019-10 | 0.7 |
| 2019-09 | -2.2 |
| 2019-08 | -0.9 |
| 2019-07 | 1.7 |
| 2019-06 | 0.4 |
| 2019-05 | -1.9 |
| 2019-04 | -2.1 |
| 2019-03 | -1.3 |
| 2019-02 | -2.5 |
| 2019-01 | -2.2 |
| 2018-12 | -0.2 |
| 2018-11 | -2.4 |
| 2018-10 | -3.6 |
| 2018-09 | -2.8 |
| 2018-08 | -0.3 |
| 2018-07 | -5.3 |
| 2018-06 | -4.6 |
| 2018-05 | -2.3 |
| 2018-04 | -2.7 |
| 2018-03 | -3.5 |
| 2018-02 | -3.9 |
| 2018-01 | -2.5 |
| 2017-12 | -3.7 |
| 2017-11 | -2.6 |
| 2017-10 | -2.8 |
| 2017-09 | -2.8 |
| 2017-08 | -5.2 |
| 2017-07 | -5.7 |
| 2017-06 | -4.0 |
| 2017-05 | -5.3 |
| 2017-04 | -5.1 |
| 2017-03 | -3.8 |
| 2017-02 | -3.9 |
| 2017-01 | -6.5 |
| 2016-12 | -5.5 |
| 2016-11 | -7.7 |
| 2016-10 | -6.8 |
| 2016-09 | -4.8 |
| 2016-08 | -5.2 |
| 2016-07 | -4.7 |
| 2016-06 | -6.8 |
| 2016-05 | -6.2 |
| 2016-04 | -4.9 |
| 2016-03 | -5.1 |
| 2016-02 | -4.6 |
| 2016-01 | -8.5 |
| 2015-12 | -8.8 |
| 2015-11 | -5.8 |
| 2015-10 | -5.9 |
| 2015-09 | -7.5 |
| 2015-08 | -6.4 |
| 2015-07 | -6.9 |
| 2015-06 | -6.1 |
| 2015-05 | -6.2 |
| 2015-04 | -7.8 |
| 2015-03 | -9.8 |
| 2015-02 | -9.7 |
| 2015-01 | -11.4 |
| 2014-12 | -11.0 |
| 2014-11 | -10.3 |
| 2014-10 | -9.5 |
| 2014-09 | -10.6 |
| 2014-08 | -9.0 |
| 2014-07 | -9.2 |
| 2014-06 | -9.3 |
| 2014-05 | -9.9 |
| 2014-04 | -9.6 |
| 2014-03 | -10.8 |
| 2014-02 | -11.0 |
| 2014-01 | -8.4 |
| 2013-12 | -9.4 |
| 2013-11 | -8.4 |
| 2013-10 | -10.1 |
| 2013-09 | -10.4 |
| 2013-08 | -10.7 |
| 2013-07 | -12.3 |
| 2013-06 | -12.0 |
| 2013-05 | -12.2 |
| 2013-04 | -12.2 |
| 2013-03 | -12.0 |
| 2013-02 | -11.9 |
| 2013-01 | -9.8 |
| 2012-12 | -9.2 |
| 2012-11 | -9.5 |
| 2012-10 | -11.0 |
| 2012-09 | -7.6 |
| 2012-08 | -7.8 |
| 2012-07 | -4.3 |
| 2012-06 | -6.0 |
| 2012-05 | -5.6 |
| 2012-04 | -4.2 |
| 2012-03 | -0.7 |
| 2012-02 | -3.4 |
| 2012-01 | 0.5 |
| 2011-12 | -2.3 |
| 2011-11 | -4.3 |
| 2011-10 | -3.0 |
| 2011-09 | -1.6 |
| 2011-08 | -1.5 |
| 2011-07 | -0.3 |
| 2011-06 | 0.5 |
| 2011-05 | 5.1 |
| 2011-04 | 2.4 |
| 2011-03 | 3.5 |
| 2011-02 | 3.3 |
| 2011-01 | -0.1 |
| 2010-12 | 0.0 |
| 2010-11 | -1.1 |
| 2010-10 | -0.9 |
| 2010-09 | -3.1 |
| 2010-08 | -3.8 |
| 2010-07 | -7.7 |
| 2010-06 | -5.4 |
| 2010-05 | -5.7 |
| 2010-04 | -7.8 |
| 2010-03 | -7.5 |
| 2010-02 | -9.0 |
| 2010-01 | -8.5 |
| 2009-12 | -10.1 |
| 2009-11 | -10.1 |
| 2009-10 | -9.4 |
| 2009-09 | -12.4 |
| 2009-08 | -14.4 |
| 2009-07 | -18.5 |
| 2009-06 | -15.4 |
| 2009-05 | -17.8 |
| 2009-04 | -17.7 |
| 2009-03 | -17.1 |
| 2009-02 | -13.1 |
| 2009-01 | -13.1 |
| 2008-12 | -13.8 |
| 2008-11 | -9.6 |
| 2008-10 | -2.7 |
| 2008-09 | 0.3 |
| 2008-08 | 1.5 |
| 2008-07 | 3.4 |
| 2008-06 | 3.3 |
| 2008-05 | 3.4 |
| 2008-04 | 3.9 |
| 2008-03 | 2.6 |
| 2008-02 | 2.1 |
| 2008-01 | 2.2 |
| 2007-12 | 3.0 |
| 2007-11 | 2.8 |
| 2007-10 | 1.3 |
| 2007-09 | 2.3 |
| 2007-08 | 3.2 |
| 2007-07 | 3.4 |
| 2007-06 | 2.1 |
| 2007-05 | 2.9 |
| 2007-04 | 2.2 |
| 2007-03 | 1.5 |
| 2007-02 | 1.1 |
| 2007-01 | 1.8 |
graphiqueExpected prices in services
- Source: INSEE
About employment, the balance of opinion on the change in the workforce size over the last three months has decreased but remains above its average level. Conversely, the balance on the expected workforce size has increased again and has further exceeded its long-term average.
tableauEconomic outlook in the services sector
| Average* | Dec. 2021 | Jan. 2022 | Feb. 2022 | Mar. 2022 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 107 | 106 | 112 | 109 |
| General outlook | -7 | 4 | -1 | 9 | 4 |
| Past activity | 2 | 15 | 13 | 9 | 8 |
| Expected activity | 1 | 3 | 3 | 11 | 7 |
| Expected demand | -1 | 5 | 2 | 13 | 8 |
| Past selling prices | -4 | 6 | 6 | 5 | 5 |
| Expected selling prices | -3 | 6 | 8 | 9 | 6 |
| Past employment | 2 | 16 | 19 | 11 | 9 |
| except temporary work agencies | 0 | 9 | 5 | 4 | 4 |
| Expected employment | 2 | 4 | 4 | 9 | 12 |
| except temporary work agencies | -1 | 3 | 4 | 11 | 11 |
| Economic uncertainty felt** | 13 | 11 | 13 | 7 | 9 |
- * Average since 1989 for the composite indicator and since 1988 for the balances of opinion, except general outlook (June 2000) and uncertainty (April 2021)
- ** Balance of opinion not seasonally adjusted
- Source: INSEE, monthly business survey in services.
Among the sub-sectors, only the business climate in accommodation and food services has improved again
In March 2022, the business climate indicator has increased again in accommodation and food services whereas it has decreased in the other sub-sectors of services.
In the context of the lifting of health constraints, the business climate has continued to rebound strongly in accommodation and food services, in connection with the standardization of the health situation. At 119, it has further exceeded its long-term average. This sharp rise is mainly due to the strong increase in the forward-looking balances on the general outlook, activity and demand.
In real estate activities, the business climate is virtually stable, above its average.
In road freight transport and in professional, scientific and technical activities, the business climate has deteriorated sharply and has moved closer to its average level. This deterioration is mainly due to the forward-looking balances, which have fallen markedly, especially the balances on expected demand and activity.
In administrative and support services, the business climate indicator has also decreased. The forward-looking balances have decreased, except the one concerning expected employment, which has increased.
In information-communication, the business climate has also deteriorated but to a lesser extent. The forward-looking balances have decreased but those concerning activity and employment over the past three months have rebounded.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Mean* | Dec. 2021 | Jan. 2022 | Feb. 2022 | Mar. 2022 |
|---|---|---|---|---|---|
| Road freight transport (8 %) | |||||
| Composite indicator | 100 | 113 | 107 | 111 | 103 |
| Past activity | -5 | 13 | 17 | 17 | 5 |
| Expected activity | -6 | 11 | -4 | 8 | -10 |
| Expected demand | -8 | 14 | 3 | 8 | -4 |
| Past employment | -5 | 4 | 18 | 9 | 0 |
| Expected employment | -7 | 7 | -2 | 4 | 1 |
| General outlook | -18 | 8 | -3 | 3 | -13 |
| Accommodation and food service activities (11 %) | |||||
| Composite indicator | 100 | 99 | 90 | 111 | 119 |
| Past activity | -8 | 27 | 6 | -6 | 0 |
| Expected activity | -8 | -19 | -30 | 5 | 18 |
| Expected demand | -10 | -14 | -31 | 13 | 21 |
| Past employment | -5 | 7 | 6 | 2 | 4 |
| Expected employment | -6 | -2 | 0 | 7 | 13 |
| General outlook | -14 | -22 | -38 | 3 | 17 |
| Information and communication (26 %) | |||||
| Composite indicator | 100 | 109 | 108 | 110 | 107 |
| Past activity | 7 | 14 | 12 | 6 | 12 |
| Expected activity | 9 | 11 | 15 | 17 | 14 |
| Expected demand | 9 | 15 | 21 | 25 | 17 |
| Past employment | 6 | 23 | 19 | 13 | 14 |
| Expected employment | 10 | 20 | 17 | 20 | 18 |
| General outlook | 0 | 12 | 7 | 13 | 9 |
| Real estate activities (11 %) | |||||
| Composite indicator | 100 | 102 | 106 | 109 | 108 |
| Past activity | 6 | 3 | 9 | 11 | 14 |
| Expected activity | 6 | 5 | 7 | 9 | 7 |
| Expected demand | 2 | 2 | 2 | 5 | 5 |
| Past employment | 3 | 11 | 12 | 9 | 9 |
| Expected employment | 3 | 4 | 8 | 8 | 9 |
| General outlook | -4 | -2 | -2 | 1 | 1 |
| Professional, scientific and technical activities (24 %) | |||||
| Composite indicator | 100 | 108 | 110 | 112 | 105 |
| Past activity | -1 | 9 | 7 | 6 | 4 |
| Expected activity | -2 | 3 | 5 | 8 | -1 |
| Expected demand | -5 | 3 | 5 | 6 | -6 |
| Past employment | 1 | -3 | 4 | 3 | 5 |
| Expected employment | 0 | 2 | 3 | 15 | 7 |
| General outlook | -8 | 6 | 4 | 8 | 3 |
| Administrative and support service activities (18 %) | |||||
| Composite indicator | 100 | 104 | 102 | 113 | 108 |
| Past activity | 5 | 28 | 29 | 19 | 14 |
| Expected activity | 5 | 2 | 5 | 17 | 12 |
| Expected demand | 3 | 5 | -4 | 19 | 13 |
| Past employment | 8 | 35 | 41 | 28 | 15 |
| Expected employment | 7 | 5 | 1 | 5 | 18 |
| General outlook | -4 | 4 | -2 | 15 | 9 |
- The figures in parentheses indicate the weights used to aggregate the sub-sector balances of opinion.
- *Composite indicator: average since 1989 (2006 for road transport); balances of opinion: average since 1988, except general outlook since June 2000 (2006 for road transport)
- Source: INSEE, monthly business survey in services.
For further information
For the three-modality questions, a balance of opinion is calculated as the difference between the percentage of “increase” responses and the percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 25 February and 21 March 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 April 2022 at 8:45 am
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
Pour en savoir plus
For the three-modality questions, a balance of opinion is calculated as the difference between the percentage of “increase” responses and the percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 25 February and 21 March 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 April 2022 at 8:45 am