Informations Rapides ·
21 April 2022 · n° 102
In April 2022, the business climate is stable in services Monthly survey of services - April 2022
According to the business managers surveyed in April 2022, the business climate is stable in services. At 109, the business climate indicator that synthesizes remains above its long-term average (100).
According to the business managers surveyed in April 2022, the business climate is stable in services. At 109, the business climate indicator that synthesizes remains above its long-term average (100).
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2022-04 | 108.7 |
| 2022-03 | 108.6 |
| 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 | 106.2 |
| 2021-04 | 91.4 |
| 2021-03 | 93.7 |
| 2021-02 | 88.3 |
| 2021-01 | 91.3 |
| 2020-12 | 89.9 |
| 2020-11 | 77.8 |
| 2020-10 | 88.6 |
| 2020-09 | 94.2 |
| 2020-08 | 93.4 |
| 2020-07 | 88.7 |
| 2020-06 | 77.8 |
| 2020-05 | 51.5 |
| 2020-04 | 41.5 |
| 2020-03 | 92.8 |
| 2020-02 | 105.9 |
| 2020-01 | 106.0 |
| 2019-12 | 106.4 |
| 2019-11 | 106.1 |
| 2019-10 | 105.7 |
| 2019-09 | 105.5 |
| 2019-08 | 104.9 |
| 2019-07 | 105.0 |
| 2019-06 | 105.7 |
| 2019-05 | 105.4 |
| 2019-04 | 105.4 |
| 2019-03 | 104.6 |
| 2019-02 | 103.6 |
| 2019-01 | 103.5 |
| 2018-12 | 102.0 |
| 2018-11 | 103.6 |
| 2018-10 | 103.2 |
| 2018-09 | 104.4 |
| 2018-08 | 103.9 |
| 2018-07 | 104.3 |
| 2018-06 | 104.5 |
| 2018-05 | 104.0 |
| 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 | 103.3 |
| 2017-05 | 102.6 |
| 2017-04 | 103.1 |
| 2017-03 | 103.2 |
| 2017-02 | 102.8 |
| 2017-01 | 101.7 |
| 2016-12 | 103.4 |
| 2016-11 | 100.9 |
| 2016-10 | 100.7 |
| 2016-09 | 100.8 |
| 2016-08 | 100.2 |
| 2016-07 | 100.4 |
| 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 | 97.2 |
| 2015-11 | 99.4 |
| 2015-10 | 99.6 |
| 2015-09 | 97.7 |
| 2015-08 | 98.8 |
| 2015-07 | 97.7 |
| 2015-06 | 97.0 |
| 2015-05 | 95.6 |
| 2015-04 | 94.2 |
| 2015-03 | 92.7 |
| 2015-02 | 91.8 |
| 2015-01 | 91.5 |
| 2014-12 | 91.7 |
| 2014-11 | 91.7 |
| 2014-10 | 91.7 |
| 2014-09 | 91.4 |
| 2014-08 | 92.0 |
| 2014-07 | 92.9 |
| 2014-06 | 92.6 |
| 2014-05 | 92.6 |
| 2014-04 | 93.6 |
| 2014-03 | 93.3 |
| 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 | 84.9 |
| 2013-02 | 87.7 |
| 2013-01 | 88.9 |
| 2012-12 | 87.8 |
| 2012-11 | 86.3 |
| 2012-10 | 86.9 |
| 2012-09 | 88.0 |
| 2012-08 | 88.2 |
| 2012-07 | 90.3 |
| 2012-06 | 90.7 |
| 2012-05 | 92.6 |
| 2012-04 | 96.1 |
| 2012-03 | 94.2 |
| 2012-02 | 92.8 |
| 2012-01 | 93.5 |
| 2011-12 | 95.3 |
| 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 | 106.7 |
| 2010-11 | 104.8 |
| 2010-10 | 102.9 |
| 2010-09 | 101.7 |
| 2010-08 | 100.8 |
| 2010-07 | 99.2 |
| 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 | 91.0 |
| 2009-09 | 88.0 |
| 2009-08 | 84.8 |
| 2009-07 | 82.3 |
| 2009-06 | 78.8 |
| 2009-05 | 74.3 |
| 2009-04 | 70.4 |
| 2009-03 | 70.3 |
| 2009-02 | 75.3 |
| 2009-01 | 76.4 |
| 2008-12 | 78.9 |
| 2008-11 | 82.0 |
| 2008-10 | 85.9 |
| 2008-09 | 94.2 |
| 2008-08 | 96.1 |
| 2008-07 | 97.5 |
| 2008-06 | 101.7 |
| 2008-05 | 104.8 |
| 2008-04 | 107.1 |
| 2008-03 | 108.6 |
| 2008-02 | 108.6 |
| 2008-01 | 110.3 |
| 2007-12 | 109.0 |
| 2007-11 | 110.1 |
| 2007-10 | 110.0 |
| 2007-09 | 111.3 |
| 2007-08 | 112.0 |
| 2007-07 | 112.8 |
| 2007-06 | 112.3 |
| 2007-05 | 112.6 |
| 2007-04 | 112.7 |
| 2007-03 | 113.0 |
| 2007-02 | 112.1 |
| 2007-01 | 110.7 |
| 2006-12 | 111.2 |
| 2006-11 | 112.8 |
| 2006-10 | 110.7 |
| 2006-09 | 110.5 |
| 2006-08 | 110.3 |
| 2006-07 | 110.2 |
| 2006-06 | 109.0 |
| 2006-05 | 110.3 |
| 2006-04 | 107.8 |
| 2006-03 | 107.5 |
| 2006-02 | 106.2 |
| 2006-01 | 108.5 |
| 2005-12 | 106.7 |
| 2005-11 | 106.4 |
| 2005-10 | 108.4 |
| 2005-09 | 106.9 |
| 2005-08 | 107.3 |
| 2005-07 | 107.7 |
| 2005-06 | 108.3 |
| 2005-05 | 106.1 |
| 2005-04 | 107.9 |
| 2005-03 | 108.2 |
| 2005-02 | 106.3 |
| 2005-01 | 106.5 |
graphiqueBusiness climate composite indicator
- Source: INSEE
Activity expectations have barely changed
In April 2022, the business managers are as optimistic as in the previous month about their activity prospects. The balance of opinion on the general business outlook for the sector is stable, whereas the one on expected activity has improved slightly. The balance on expected demand has decreased slightly. These three balances remain above their respective averages. At the same time, the balance on economic uncertainty has decreased a little.
The balance of opinion on activity over the past three months has improved very slightly and remains above its average.
The balance of opinion on the recent change in selling prices has increased sharply and therefore remains well above its average. The one on the expected change in selling prices has rebounded strongly and has reached a level not seen since 1990.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2022-04 | 12.8 |
| 2022-03 | 7.3 |
| 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
Concerning employment, the balance of opinion on the change in the workforce size over the last three months has decreased sharply and has returned just below its average level. The one on the expected workforce size has decreased slightly but remains above its long-term average. Besides, as many business managers as in last January have reported difficulties in recruitment: this proportion stands at its highest level since the beginning of the series (July 2000).
The balance of opinion on expected investment for the next three months has decreased but remains well above its average.
Among the obstacles preventing them from increasing their activity, fewer business managers compared to January have reported demand difficulties – and the proportion remains well below its long-term average – while the share of those experiencing supply difficulties has increased, above its average.
The balance on the cash position is stable compared to January, above its average.
tableauEconomic outlook in the services sector
| Average* | Jan. 2022 | Feb. 2022 | Mar. 2022 | Apr. 2022 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 105 | 112 | 109 | 109 |
| General outlook | -7 | -1 | 9 | 4 | 4 |
| Past activity | 2 | 13 | 9 | 8 | 9 |
| Expected activity | 1 | 3 | 11 | 7 | 9 |
| Expected demand | -1 | 2 | 13 | 8 | 6 |
| Past selling prices | -4 | 6 | 5 | 5 | 9 |
| Expected selling prices | -3 | 8 | 9 | 7 | 13 |
| Past employment | 2 | 19 | 11 | 6 | 1 |
| except temporary work agencies | 0 | 5 | 4 | 4 | 2 |
| Expected employment | 2 | 4 | 9 | 11 | 10 |
| except temporary work agencies | -1 | 4 | 11 | 11 | 9 |
| Cash position | -11 | -5 | -5 | ||
| Difficulties of supply and demand | |||||
| difficulties of supply and demand (in %) | 10 | 7 | 6 | ||
| difficulties of supply only (in %) | 23 | 27 | 32 | ||
| difficulties of demand only (in %) | 30 | 18 | 13 | ||
| Difficulties in recruitment (in %) | 30 | 53 | 53 | ||
| Expected investments | 3 | 12 | 10 | ||
| Economic uncertainty felt** | 13 | 13 | 7 | 9 | 8 |
- * 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.
The business climate remains very favourable in accommodation and food services
In April 2022, in accommodation and food services, the business climate indicator remains stable at a very high level. In information-communication, the business climate indicator is also stable, above its average.
After a sharp decrease in March, the business climate in road freight transport has improved slightly. In particular, the balance of opinion on expected activity has rebounded sharply.
In real estate activities, scientific and technical activities and administrative and support services, the business climates have improved slightly and stand above their long-term average.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Mean* | Jan. 2022 | Feb. 2022 | Mar. 2022 | Apr. 2022 |
|---|---|---|---|---|---|
| Road freight transport (8 %) | |||||
| Composite indicator | 100 | 107 | 111 | 103 | 105 |
| Past activity | -5 | 17 | 17 | 5 | 4 |
| Expected activity | -6 | -4 | 8 | -10 | 3 |
| Expected demand | -8 | 3 | 8 | -4 | -1 |
| Past employment | -5 | 18 | 9 | 0 | -1 |
| Expected employment | -7 | -2 | 4 | 2 | -6 |
| General outlook | -18 | -3 | 3 | -13 | -13 |
| Accommodation and food service activities (11 %) | |||||
| Composite indicator | 100 | 90 | 111 | 120 | 120 |
| Past activity | -8 | 6 | -6 | -3 | 6 |
| Expected activity | -8 | -30 | 5 | 16 | 4 |
| Expected demand | -9 | -31 | 13 | 25 | 26 |
| Past employment | -5 | 6 | 2 | 3 | 4 |
| Expected employment | -6 | 0 | 7 | 15 | 20 |
| General outlook | -14 | -38 | 3 | 17 | 19 |
| Information and communication (26 %) | |||||
| Composite indicator | 100 | 108 | 110 | 108 | 108 |
| Past activity | 7 | 12 | 6 | 12 | 10 |
| Expected activity | 9 | 15 | 17 | 15 | 17 |
| Expected demand | 9 | 21 | 25 | 18 | 6 |
| Past employment | 6 | 19 | 13 | 16 | 17 |
| Expected employment | 10 | 17 | 20 | 17 | 22 |
| General outlook | 0 | 7 | 13 | 9 | 11 |
| Real estate activities (11 %) | |||||
| Composite indicator | 100 | 106 | 109 | 106 | 107 |
| Past activity | 7 | 9 | 11 | 13 | 10 |
| Expected activity | 6 | 7 | 9 | 6 | 8 |
| Expected demand | 2 | 2 | 5 | 5 | 6 |
| Past employment | 3 | 12 | 9 | 3 | 5 |
| Expected employment | 3 | 8 | 8 | 8 | 9 |
| General outlook | -4 | -2 | 1 | 1 | 1 |
| Professionnel, scientific and technical activities (24 %) | |||||
| Composite indicator | 100 | 110 | 112 | 105 | 106 |
| Past activity | -1 | 7 | 6 | 6 | 9 |
| Expected activity | -2 | 5 | 8 | 0 | 1 |
| Expected demand | -5 | 5 | 6 | -5 | -5 |
| Past employment | 1 | 4 | 3 | 7 | 3 |
| Expected employment | 0 | 3 | 15 | 7 | 8 |
| General outlook | -8 | 4 | 8 | 3 | -1 |
| Administrative and support service activities (18 %) | |||||
| Composite indicator | 100 | 102 | 113 | 107 | 108 |
| Past activity | 5 | 29 | 19 | 12 | 11 |
| Expected activity | 5 | 5 | 17 | 10 | 13 |
| Expected demand | 3 | -4 | 19 | 10 | 11 |
| Past employment | 8 | 41 | 28 | 8 | -9 |
| Expected employment | 7 | 1 | 5 | 14 | 4 |
| General outlook | -4 | -2 | 15 | 8 | 11 |
- 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 28 March and 15 April 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 24 May 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 28 March and 15 April 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 24 May 2022 at 8:45 am