Informations Rapides ·
23 June 2022 · n° 166
In June 2022, the French business climate and the employment climate are a little
less favourable Business indicator - June 2022
In June 2022, the business climate in France has darkened a bit. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost two points. At 104, it remains above its long-term average (100). This degradation in the business climate results mainly from the weakening in the forward-looking balances of opinion in services and retail trade.
In June 2022, the business climate in France has darkened a little
In June 2022, the business climate in France has darkened a bit. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost two points. At 104, it remains above its long-term average (100). This degradation in the business climate results mainly from the weakening in the forward-looking balances of opinion in services and retail trade.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 2022-06 | 104.2 |
| 2022-05 | 105.7 |
| 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 | 93.2 |
| 2020-12 | 92.2 |
| 2020-11 | 78.0 |
| 2020-10 | 89.8 |
| 2020-09 | 93.1 |
| 2020-08 | 93.4 |
| 2020-07 | 89.9 |
| 2020-06 | 83.6 |
| 2020-05 | 59.3 |
| 2020-04 | 47.6 |
| 2020-03 | 93.7 |
| 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 | 100.8 |
| 2015-06 | 100.4 |
| 2015-05 | 99.1 |
| 2015-04 | 98.1 |
| 2015-03 | 96.7 |
| 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 | 94.8 |
| 2014-05 | 95.5 |
| 2014-04 | 96.0 |
| 2014-03 | 96.0 |
| 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 | 85.6 |
| 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 | 90.8 |
| 2012-06 | 92.0 |
| 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 | 82.8 |
| 2009-07 | 79.7 |
| 2009-06 | 77.7 |
| 2009-05 | 74.4 |
| 2009-04 | 71.7 |
| 2009-03 | 69.9 |
| 2009-02 | 74.0 |
| 2009-01 | 75.6 |
| 2008-12 | 77.3 |
| 2008-11 | 80.0 |
| 2008-10 | 83.9 |
| 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 fallen back in June, for the most part because of the worsening of the outlook for employment and activity in the sector.
In services, the business climate is slightly less favourable in June, undermined by the weakening in the forward-looking balances of opinion related to activity.
Conversely, the business climate has improved slightly in building construction. However, this rebound is the result of mixed movements, the business managers of the sector being less optimistic regarding their prospects despite judging more favourably their recent activity.
Finally, in manufacturing, the business climate has improved a little, held up by the balances of opinion regarding past as well as expected activity.
tableauBusiness and employment climates
| Feb. 22 | Mar. 22 | Apr. 22 | May 22 | June 22 | |
|---|---|---|---|---|---|
| Business climates | |||||
| France | 113 | 107 | 106 | 106 | 104 |
| Manufacturing | 112 | 107 | 108 | 106 | 108 |
| Building construction | 113 | 114 | 116 | 114 | 115 |
| Services | 112 | 109 | 108 | 109 | 108 |
| Retail trade | 107 | 99 | 93 | 98 | 95 |
| Wholesale trade | 105 | 101 | |||
| Employment | 113 | 113 | 111 | 110 | 108 |
- Source: INSEE, Business tendency surveys
The employment climate has weakened again
The employment climate has deteriorated again in June 2022, for the third month in a row. The composite indicator has lost two points and stands at 108, remaining well above its long-term average (100). This degradation is mainly the result of the decrease in the balances of opinion regarding expected change in the workforce size in services (excluding temporary work agencies), in temporary work agencies and in retail trade.
tableauFrench employment climate composite indicator
| French employment climate composite indicator | |
|---|---|
| 2022-06 | 108.2 |
| 2022-05 | 109.7 |
| 2022-04 | 110.7 |
| 2022-03 | 113.3 |
| 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 | 107.2 |
| 2021-06 | 104.5 |
| 2021-05 | 100.1 |
| 2021-04 | 92.5 |
| 2021-03 | 93.0 |
| 2021-02 | 86.3 |
| 2021-01 | 88.4 |
| 2020-12 | 86.7 |
| 2020-11 | 85.2 |
| 2020-10 | 89.5 |
| 2020-09 | 92.6 |
| 2020-08 | 88.0 |
| 2020-07 | 76.6 |
| 2020-06 | 67.7 |
| 2020-05 | 55.6 |
| 2020-04 | 52.1 |
| 2020-03 | 97.5 |
| 2020-02 | 105.3 |
| 2020-01 | 105.2 |
| 2019-12 | 106.2 |
| 2019-11 | 106.1 |
| 2019-10 | 105.3 |
| 2019-09 | 106.1 |
| 2019-08 | 105.3 |
| 2019-07 | 106.1 |
| 2019-06 | 106.6 |
| 2019-05 | 105.6 |
| 2019-04 | 107.5 |
| 2019-03 | 107.9 |
| 2019-02 | 107.2 |
| 2019-01 | 105.3 |
| 2018-12 | 104.8 |
| 2018-11 | 105.0 |
| 2018-10 | 106.8 |
| 2018-09 | 107.3 |
| 2018-08 | 107.6 |
| 2018-07 | 108.3 |
| 2018-06 | 110.1 |
| 2018-05 | 109.3 |
| 2018-04 | 109.1 |
| 2018-03 | 110.2 |
| 2018-02 | 110.1 |
| 2018-01 | 109.4 |
| 2017-12 | 108.7 |
| 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 | 107.5 |
| 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 | 100.8 |
| 2016-01 | 102.0 |
| 2015-12 | 100.8 |
| 2015-11 | 101.9 |
| 2015-10 | 100.6 |
| 2015-09 | 100.4 |
| 2015-08 | 100.5 |
| 2015-07 | 99.8 |
| 2015-06 | 99.4 |
| 2015-05 | 97.6 |
| 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 | 91.0 |
| 2013-07 | 90.7 |
| 2013-06 | 89.4 |
| 2013-05 | 87.0 |
| 2013-04 | 87.4 |
| 2013-03 | 88.7 |
| 2013-02 | 89.5 |
| 2013-01 | 92.8 |
| 2012-12 | 90.1 |
| 2012-11 | 90.5 |
| 2012-10 | 91.9 |
| 2012-09 | 91.3 |
| 2012-08 | 93.7 |
| 2012-07 | 93.0 |
| 2012-06 | 94.3 |
| 2012-05 | 95.6 |
| 2012-04 | 98.0 |
| 2012-03 | 99.2 |
| 2012-02 | 97.7 |
| 2012-01 | 98.1 |
| 2011-12 | 99.2 |
| 2011-11 | 100.9 |
| 2011-10 | 101.0 |
| 2011-09 | 103.7 |
| 2011-08 | 105.7 |
| 2011-07 | 109.6 |
| 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 | 99.0 |
| 2010-06 | 98.6 |
| 2010-05 | 97.5 |
| 2010-04 | 95.4 |
| 2010-03 | 93.3 |
| 2010-02 | 90.8 |
| 2010-01 | 90.2 |
| 2009-12 | 88.9 |
| 2009-11 | 86.7 |
| 2009-10 | 84.5 |
| 2009-09 | 82.4 |
| 2009-08 | 83.0 |
| 2009-07 | 78.4 |
| 2009-06 | 74.8 |
| 2009-05 | 73.5 |
| 2009-04 | 74.4 |
| 2009-03 | 73.8 |
| 2009-02 | 79.3 |
| 2009-01 | 81.0 |
| 2008-12 | 83.3 |
| 2008-11 | 88.3 |
| 2008-10 | 95.3 |
| 2008-09 | 99.7 |
| 2008-08 | 101.0 |
| 2008-07 | 105.2 |
| 2008-06 | 104.9 |
| 2008-05 | 108.2 |
| 2008-04 | 112.4 |
| 2008-03 | 112.2 |
| 2008-02 | 113.8 |
| 2008-01 | 113.6 |
| 2007-12 | 114.4 |
| 2007-11 | 112.8 |
| 2007-10 | 111.4 |
| 2007-09 | 112.9 |
| 2007-08 | 112.2 |
| 2007-07 | 110.9 |
| 2007-06 | 112.6 |
| 2007-05 | 113.0 |
| 2007-04 | 111.6 |
| 2007-03 | 111.0 |
| 2007-02 | 111.1 |
| 2007-01 | 109.2 |
| 2006-12 | 110.7 |
| 2006-11 | 110.2 |
| 2006-10 | 108.6 |
| 2006-09 | 107.8 |
| 2006-08 | 108.8 |
| 2006-07 | 109.5 |
| 2006-06 | 109.7 |
| 2006-05 | 107.9 |
| 2006-04 | 106.8 |
| 2006-03 | 104.5 |
| 2006-02 | 104.1 |
| 2006-01 | 103.9 |
| 2005-12 | 103.1 |
| 2005-11 | 103.7 |
| 2005-10 | 103.8 |
| 2005-09 | 103.4 |
| 2005-08 | 103.1 |
| 2005-07 | 102.4 |
| 2005-06 | 101.9 |
| 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 composite indicators of the business climate in France and the employment climate of May 2022 have not been revised.
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 May and 20 June 2022.
Next issue: 21 July 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 May and 20 June 2022.
Next issue: 21 July 2022 at 08:45 am.