Informations Rapides ·
24 May 2022 · n° 135
In May 2022, the French business climate is stable while the employment climate has
darkened a little Business indicator - May 2022
In May 2022, the business climate in France is stable. At 106, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, remains above its long-term average (100). This stability in the business climate results from various movements: the business situation has improved a little in services and retail trade, but has worsened in manufacturing, building construction and wholesale trade.
In May 2022, the business climate in France is stable
In May 2022, the business climate in France is stable. At 106, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, remains above its long-term average (100). This stability in the business climate results from various movements: the business situation has improved a little in services and retail trade, but has worsened in manufacturing, building construction and wholesale trade.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 2022-05 | 105.6 |
| 2022-04 | 105.5 |
| 2022-03 | 106.7 |
| 2022-02 | 112.6 |
| 2022-01 | 107.4 |
| 2021-12 | 109.0 |
| 2021-11 | 113.3 |
| 2021-10 | 112.3 |
| 2021-09 | 110.3 |
| 2021-08 | 109.8 |
| 2021-07 | 111.9 |
| 2021-06 | 113.4 |
| 2021-05 | 109.1 |
| 2021-04 | 95.5 |
| 2021-03 | 97.3 |
| 2021-02 | 90.7 |
| 2021-01 | 93.3 |
| 2020-12 | 92.2 |
| 2020-11 | 78.1 |
| 2020-10 | 89.8 |
| 2020-09 | 93.1 |
| 2020-08 | 93.4 |
| 2020-07 | 89.9 |
| 2020-06 | 83.6 |
| 2020-05 | 59.4 |
| 2020-04 | 47.7 |
| 2020-03 | 93.8 |
| 2020-02 | 105.5 |
| 2020-01 | 105.7 |
| 2019-12 | 105.8 |
| 2019-11 | 106.0 |
| 2019-10 | 105.9 |
| 2019-09 | 106.0 |
| 2019-08 | 105.3 |
| 2019-07 | 105.4 |
| 2019-06 | 105.9 |
| 2019-05 | 106.2 |
| 2019-04 | 106.2 |
| 2019-03 | 105.4 |
| 2019-02 | 104.2 |
| 2019-01 | 103.7 |
| 2018-12 | 103.1 |
| 2018-11 | 106.2 |
| 2018-10 | 105.8 |
| 2018-09 | 106.8 |
| 2018-08 | 107.4 |
| 2018-07 | 107.9 |
| 2018-06 | 108.4 |
| 2018-05 | 108.7 |
| 2018-04 | 110.4 |
| 2018-03 | 111.1 |
| 2018-02 | 111.2 |
| 2018-01 | 112.2 |
| 2017-12 | 112.6 |
| 2017-11 | 111.5 |
| 2017-10 | 110.4 |
| 2017-09 | 110.5 |
| 2017-08 | 110.3 |
| 2017-07 | 109.6 |
| 2017-06 | 108.5 |
| 2017-05 | 107.4 |
| 2017-04 | 107.0 |
| 2017-03 | 106.5 |
| 2017-02 | 106.7 |
| 2017-01 | 106.0 |
| 2016-12 | 106.0 |
| 2016-11 | 103.6 |
| 2016-10 | 103.8 |
| 2016-09 | 103.5 |
| 2016-08 | 103.4 |
| 2016-07 | 103.7 |
| 2016-06 | 102.8 |
| 2016-05 | 104.1 |
| 2016-04 | 102.2 |
| 2016-03 | 102.7 |
| 2016-02 | 102.8 |
| 2016-01 | 103.8 |
| 2015-12 | 101.4 |
| 2015-11 | 102.6 |
| 2015-10 | 102.7 |
| 2015-09 | 101.9 |
| 2015-08 | 102.5 |
| 2015-07 | 100.9 |
| 2015-06 | 100.4 |
| 2015-05 | 99.1 |
| 2015-04 | 98.1 |
| 2015-03 | 96.8 |
| 2015-02 | 95.7 |
| 2015-01 | 94.6 |
| 2014-12 | 93.9 |
| 2014-11 | 93.7 |
| 2014-10 | 91.8 |
| 2014-09 | 91.9 |
| 2014-08 | 92.8 |
| 2014-07 | 94.3 |
| 2014-06 | 94.9 |
| 2014-05 | 95.5 |
| 2014-04 | 96.0 |
| 2014-03 | 96.1 |
| 2014-02 | 95.0 |
| 2014-01 | 95.4 |
| 2013-12 | 94.1 |
| 2013-11 | 94.6 |
| 2013-10 | 95.3 |
| 2013-09 | 95.4 |
| 2013-08 | 91.9 |
| 2013-07 | 88.6 |
| 2013-06 | 86.9 |
| 2013-05 | 85.7 |
| 2013-04 | 84.6 |
| 2013-03 | 86.0 |
| 2013-02 | 88.1 |
| 2013-01 | 88.1 |
| 2012-12 | 88.6 |
| 2012-11 | 88.0 |
| 2012-10 | 86.7 |
| 2012-09 | 88.4 |
| 2012-08 | 89.9 |
| 2012-07 | 90.9 |
| 2012-06 | 92.1 |
| 2012-05 | 93.2 |
| 2012-04 | 97.4 |
| 2012-03 | 95.8 |
| 2012-02 | 93.4 |
| 2012-01 | 93.5 |
| 2011-12 | 94.9 |
| 2011-11 | 95.8 |
| 2011-10 | 97.7 |
| 2011-09 | 98.8 |
| 2011-08 | 101.5 |
| 2011-07 | 106.2 |
| 2011-06 | 107.6 |
| 2011-05 | 107.9 |
| 2011-04 | 108.5 |
| 2011-03 | 109.2 |
| 2011-02 | 108.7 |
| 2011-01 | 107.4 |
| 2010-12 | 106.5 |
| 2010-11 | 104.9 |
| 2010-10 | 104.1 |
| 2010-09 | 102.3 |
| 2010-08 | 100.3 |
| 2010-07 | 98.3 |
| 2010-06 | 96.3 |
| 2010-05 | 96.8 |
| 2010-04 | 95.5 |
| 2010-03 | 91.7 |
| 2010-02 | 92.4 |
| 2010-01 | 91.8 |
| 2009-12 | 90.2 |
| 2009-11 | 90.0 |
| 2009-10 | 88.3 |
| 2009-09 | 85.6 |
| 2009-08 | 82.9 |
| 2009-07 | 79.7 |
| 2009-06 | 77.7 |
| 2009-05 | 74.4 |
| 2009-04 | 71.8 |
| 2009-03 | 69.9 |
| 2009-02 | 74.1 |
| 2009-01 | 75.6 |
| 2008-12 | 77.3 |
| 2008-11 | 80.1 |
| 2008-10 | 84.0 |
| 2008-09 | 92.9 |
| 2008-08 | 95.3 |
| 2008-07 | 96.9 |
| 2008-06 | 100.3 |
| 2008-05 | 103.4 |
| 2008-04 | 106.0 |
| 2008-03 | 108.1 |
| 2008-02 | 108.2 |
| 2008-01 | 109.3 |
| 2007-12 | 109.9 |
| 2007-11 | 110.1 |
| 2007-10 | 109.6 |
| 2007-09 | 111.0 |
| 2007-08 | 111.6 |
| 2007-07 | 112.5 |
| 2007-06 | 113.4 |
| 2007-05 | 112.4 |
| 2007-04 | 112.3 |
| 2007-03 | 111.7 |
| 2007-02 | 111.3 |
| 2007-01 | 109.6 |
| 2006-12 | 109.5 |
| 2006-11 | 111.0 |
| 2006-10 | 109.4 |
| 2006-09 | 109.2 |
| 2006-08 | 108.7 |
| 2006-07 | 108.2 |
| 2006-06 | 106.2 |
| 2006-05 | 106.5 |
| 2006-04 | 104.7 |
| 2006-03 | 104.2 |
| 2006-02 | 103.8 |
| 2006-01 | 106.2 |
| 2005-12 | 104.8 |
| 2005-11 | 103.3 |
| 2005-10 | 103.8 |
| 2005-09 | 100.9 |
| 2005-08 | 101.5 |
| 2005-07 | 101.6 |
| 2005-06 | 101.8 |
| 2005-05 | 100.9 |
| 2005-04 | 103.3 |
| 2005-03 | 104.2 |
| 2005-02 | 104.1 |
| 2005-01 | 103.8 |
graphiqueFrench business climate composite indicator
- Source: INSEE
In retail trade, the business climate indicator has rebounded markedly, thanks to the improvement in the forward-looking balances of opinion regarding activity.
In services, the business climate is slightly more favourable in May compared to April, held up by the improvement in the business outlook for the sector.
Conversely, the business climate has worsened in manufacturing, mainly because of less favourable personal outlooks and foreign order books, according to the business managers of the sector.
In building construction, the composite indicator of the business climate has receded too, for the most part due to the deterioration in the balance of opinion related to past activity.
Finally, in wholesale trade, the business climate has deteriorated sharply compared to March, in relation with the decrease in the balance of opinion regarding deliveries received from abroad.
tableauBusiness and employment climates
| Jan. 22 | Feb. 22 | Mar. 22 | Apr. 22 | May 22 | |
|---|---|---|---|---|---|
| Business climates | |||||
| France | 107 | 113 | 107 | 106 | 106 |
| Manufacturing | 113 | 112 | 107 | 108 | 106 |
| Building construction | 113 | 114 | 114 | 116 | 114 |
| Services | 105 | 112 | 109 | 108 | 109 |
| Retail trade | 105 | 107 | 99 | 93 | 98 |
| Wholesale trade | 115 | 105 | 101 | ||
| Employment | 111 | 113 | 113 | 111 | 110 |
- Source: INSEE, Business tendency surveys
The employment climate has worsened a little again
The employment climate has deteriorated slightly in May 2022, for the second month in a row. The composite indicator has lost one point and stands at 110, well above its long-term average (100). This slight degradation is mainly the result of the decrease in the balances of opinion regarding past and expected change in workforce in temporary work agencies.
tableauFrench employment climate composite indicator
| French employment climate composite indicator | |
|---|---|
| 2022-05 | 109.7 |
| 2022-04 | 110.8 |
| 2022-03 | 113.2 |
| 2022-02 | 113.4 |
| 2022-01 | 110.7 |
| 2021-12 | 109.7 |
| 2021-11 | 112.3 |
| 2021-10 | 110.2 |
| 2021-09 | 105.6 |
| 2021-08 | 107.6 |
| 2021-07 | 107.3 |
| 2021-06 | 104.4 |
| 2021-05 | 100.2 |
| 2021-04 | 92.6 |
| 2021-03 | 93.0 |
| 2021-02 | 86.4 |
| 2021-01 | 88.5 |
| 2020-12 | 86.7 |
| 2020-11 | 85.3 |
| 2020-10 | 89.5 |
| 2020-09 | 92.6 |
| 2020-08 | 88.0 |
| 2020-07 | 76.7 |
| 2020-06 | 67.7 |
| 2020-05 | 55.7 |
| 2020-04 | 52.2 |
| 2020-03 | 97.5 |
| 2020-02 | 105.3 |
| 2020-01 | 105.2 |
| 2019-12 | 106.3 |
| 2019-11 | 106.1 |
| 2019-10 | 105.3 |
| 2019-09 | 106.1 |
| 2019-08 | 105.3 |
| 2019-07 | 106.2 |
| 2019-06 | 106.6 |
| 2019-05 | 105.6 |
| 2019-04 | 107.5 |
| 2019-03 | 107.9 |
| 2019-02 | 107.3 |
| 2019-01 | 105.3 |
| 2018-12 | 104.8 |
| 2018-11 | 105.0 |
| 2018-10 | 106.9 |
| 2018-09 | 107.3 |
| 2018-08 | 107.6 |
| 2018-07 | 108.3 |
| 2018-06 | 110.1 |
| 2018-05 | 109.3 |
| 2018-04 | 109.2 |
| 2018-03 | 110.2 |
| 2018-02 | 110.1 |
| 2018-01 | 109.4 |
| 2017-12 | 108.8 |
| 2017-11 | 108.1 |
| 2017-10 | 108.2 |
| 2017-09 | 106.8 |
| 2017-08 | 105.9 |
| 2017-07 | 107.6 |
| 2017-06 | 107.8 |
| 2017-05 | 107.3 |
| 2017-04 | 106.4 |
| 2017-03 | 107.6 |
| 2017-02 | 104.8 |
| 2017-01 | 105.2 |
| 2016-12 | 106.5 |
| 2016-11 | 104.7 |
| 2016-10 | 104.7 |
| 2016-09 | 104.4 |
| 2016-08 | 103.4 |
| 2016-07 | 103.9 |
| 2016-06 | 101.8 |
| 2016-05 | 102.4 |
| 2016-04 | 100.9 |
| 2016-03 | 100.0 |
| 2016-02 | 100.9 |
| 2016-01 | 102.1 |
| 2015-12 | 100.8 |
| 2015-11 | 101.9 |
| 2015-10 | 100.6 |
| 2015-09 | 100.4 |
| 2015-08 | 100.6 |
| 2015-07 | 99.8 |
| 2015-06 | 99.4 |
| 2015-05 | 97.7 |
| 2015-04 | 97.6 |
| 2015-03 | 95.8 |
| 2015-02 | 96.2 |
| 2015-01 | 94.1 |
| 2014-12 | 94.8 |
| 2014-11 | 94.8 |
| 2014-10 | 94.8 |
| 2014-09 | 94.9 |
| 2014-08 | 94.7 |
| 2014-07 | 96.2 |
| 2014-06 | 95.6 |
| 2014-05 | 97.2 |
| 2014-04 | 98.1 |
| 2014-03 | 95.6 |
| 2014-02 | 95.0 |
| 2014-01 | 95.7 |
| 2013-12 | 95.6 |
| 2013-11 | 93.6 |
| 2013-10 | 95.1 |
| 2013-09 | 92.8 |
| 2013-08 | 91.1 |
| 2013-07 | 90.8 |
| 2013-06 | 89.5 |
| 2013-05 | 87.1 |
| 2013-04 | 87.4 |
| 2013-03 | 88.7 |
| 2013-02 | 89.6 |
| 2013-01 | 92.8 |
| 2012-12 | 90.1 |
| 2012-11 | 90.5 |
| 2012-10 | 91.9 |
| 2012-09 | 91.4 |
| 2012-08 | 93.8 |
| 2012-07 | 93.0 |
| 2012-06 | 94.3 |
| 2012-05 | 95.6 |
| 2012-04 | 98.0 |
| 2012-03 | 99.3 |
| 2012-02 | 97.7 |
| 2012-01 | 98.2 |
| 2011-12 | 99.2 |
| 2011-11 | 100.9 |
| 2011-10 | 101.0 |
| 2011-09 | 103.7 |
| 2011-08 | 105.7 |
| 2011-07 | 109.7 |
| 2011-06 | 111.4 |
| 2011-05 | 111.1 |
| 2011-04 | 109.7 |
| 2011-03 | 109.5 |
| 2011-02 | 110.1 |
| 2011-01 | 104.5 |
| 2010-12 | 105.5 |
| 2010-11 | 104.9 |
| 2010-10 | 103.7 |
| 2010-09 | 101.1 |
| 2010-08 | 99.4 |
| 2010-07 | 99.1 |
| 2010-06 | 98.6 |
| 2010-05 | 97.5 |
| 2010-04 | 95.5 |
| 2010-03 | 93.3 |
| 2010-02 | 90.8 |
| 2010-01 | 90.3 |
| 2009-12 | 88.9 |
| 2009-11 | 86.7 |
| 2009-10 | 84.5 |
| 2009-09 | 82.4 |
| 2009-08 | 83.1 |
| 2009-07 | 78.4 |
| 2009-06 | 74.8 |
| 2009-05 | 73.6 |
| 2009-04 | 74.5 |
| 2009-03 | 73.9 |
| 2009-02 | 79.3 |
| 2009-01 | 81.0 |
| 2008-12 | 83.3 |
| 2008-11 | 88.3 |
| 2008-10 | 95.4 |
| 2008-09 | 99.7 |
| 2008-08 | 101.0 |
| 2008-07 | 105.2 |
| 2008-06 | 104.9 |
| 2008-05 | 108.2 |
| 2008-04 | 112.5 |
| 2008-03 | 112.3 |
| 2008-02 | 113.8 |
| 2008-01 | 113.7 |
| 2007-12 | 114.4 |
| 2007-11 | 112.9 |
| 2007-10 | 111.4 |
| 2007-09 | 112.9 |
| 2007-08 | 112.2 |
| 2007-07 | 110.9 |
| 2007-06 | 112.7 |
| 2007-05 | 113.0 |
| 2007-04 | 111.6 |
| 2007-03 | 111.0 |
| 2007-02 | 111.1 |
| 2007-01 | 109.2 |
| 2006-12 | 110.8 |
| 2006-11 | 110.2 |
| 2006-10 | 108.7 |
| 2006-09 | 107.9 |
| 2006-08 | 108.9 |
| 2006-07 | 109.6 |
| 2006-06 | 109.7 |
| 2006-05 | 107.9 |
| 2006-04 | 106.8 |
| 2006-03 | 104.6 |
| 2006-02 | 104.1 |
| 2006-01 | 103.9 |
| 2005-12 | 103.1 |
| 2005-11 | 103.7 |
| 2005-10 | 103.8 |
| 2005-09 | 103.5 |
| 2005-08 | 103.1 |
| 2005-07 | 102.5 |
| 2005-06 | 102.0 |
| 2005-05 | 102.4 |
| 2005-04 | 101.7 |
| 2005-03 | 104.2 |
| 2005-02 | 101.7 |
| 2005-01 | 101.9 |
graphiqueFrench employment climate composite indicator
- Source: INSEE
Revisions
The business climate in services and the employment climate of April 2022 have both been revised downwards by one point. These revisions are mainly explained by the inclusion of late responses from companies. The other business climate indicators are unchanged.
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 30 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, since the definitive data of April 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding units.
The responses to these surveys were collected between 27 April and 19 May 2022.
Next issue: 23 June 2022 at 08:45 am.
Documentation
Methodology note (in French) (pdf,245 Ko)
Pour en savoir plus
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 30 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, since the definitive data of April 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding units.
The responses to these surveys were collected between 27 April and 19 May 2022.
Next issue: 23 June 2022 at 08:45 am.