Informations Rapides · 20 October 2022 · n° 277
In October 2022, the French business climate is stable Business indicator - October 2022

In October 2022, the French business climate is stable. At 102, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, remains slightly above its long-term average (100). This stability is the result of mixed movements: compared to last month, the outlook has slightly darkened in services but the business situation has improved a bit in the other sectors.

Informations rapides

N^o 277

Paru le :Paru le20/10/2022

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

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In October 2022, the business climate in France is stable, slightly above its long term average
The employment climate remains favourable
Revisions
For further information

In October 2022, the business climate in France is stable, slightly above its long term average

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Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2022-10	101.9
2022-09	101.8
2022-08	103.5
2022-07	102.9
2022-06	104.0
2022-05	105.6
2022-04	105.5
2022-03	106.7
2022-02	112.6
2022-01	107.3
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	95.4
2021-03	97.3
2021-02	90.7
2021-01	93.2
2020-12	92.1
2020-11	77.9
2020-10	89.7
2020-09	93.0
2020-08	93.4
2020-07	89.9
2020-06	83.5
2020-05	59.1
2020-04	47.3
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	110.5
2018-03	111.1
2018-02	111.3
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	93.6
2014-10	91.8
2014-09	91.8
2014-08	92.8
2014-07	94.2
2014-06	94.8
2014-05	95.5
2014-04	96.0
2014-03	96.0
2014-02	94.9
2014-01	95.3
2013-12	94.1
2013-11	94.5
2013-10	95.2
2013-09	95.4
2013-08	91.8
2013-07	88.5
2013-06	86.8
2013-05	85.6
2013-04	84.5
2013-03	85.9
2013-02	88.0
2013-01	88.0
2012-12	88.5
2012-11	87.9
2012-10	86.6
2012-09	88.3
2012-08	89.8
2012-07	90.8
2012-06	92.0
2012-05	93.1
2012-04	97.4
2012-03	95.7
2012-02	93.3
2012-01	93.4
2011-12	94.8
2011-11	95.7
2011-10	97.7
2011-09	98.7
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	107.5
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	92.3
2010-01	91.7
2009-12	90.1
2009-11	89.9
2009-10	88.2
2009-09	85.5
2009-08	82.8
2009-07	79.6
2009-06	77.6
2009-05	74.3
2009-04	71.6
2009-03	69.8
2009-02	73.9
2009-01	75.5
2008-12	77.2
2008-11	79.9
2008-10	83.8
2008-09	92.8
2008-08	95.3
2008-07	96.8
2008-06	100.2
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	112.6
2007-06	113.5
2007-05	112.5
2007-04	112.4
2007-03	111.8
2007-02	111.3
2007-01	109.6
2006-12	109.6
2006-11	111.0
2006-10	109.4
2006-09	109.3
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	100.8
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	103.7

graphiqueFrench business climate composite indicator

In retail trade (including trade and repair of vehicles), the business climate remains weak but it has improved a little, held up by the rebound of the balances of opinion related to ordering intentions and the general outlook for the sector.

In building construction, the business climate remains favourable, with notably an improvement in the opinion of the business managers of the sector regarding their recent activity.

In manufacturing industry, after receding for three months in a row, the business climate has recovered a little, thanks notably to the rebound of the balances of opinion regarding expected production and order books.

Finally, in services, the business climate is virtually stable: the good standing of the balances of opinion related to the past evolution of the activity and the workforce size is counterbalanced by a lesser optimism of the business managers concerning the general business outlook.

tableauBusiness and employment climates

Business and employment climates
	June 22	Jul. 22	Aug. 22	Sept. 22	Oct. 22
Business climates
France	104	103	104	102	102
Manufacturing	108	106	103	102	103
Building construction	114	113	113	113	115
Services	108	107	107	106	105
Retail trade	95	95	99	95	97
Wholesale trade		102		96

Employment	107	109	107	109	108

Source: INSEE, Business tendency surveys

The employment climate remains favourable

In October 2022, the employment climate has lost one point and stands at 108, thus remaining well above its long-term average (100). It has fluctuated between 107 and 110 since May. Its movement in October is mainly the result of the decrease in the balance of opinion regarding the expected change in the workforce size in services (excluding temporary work agencies).

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2022-10	108.2
2022-09	108.7
2022-08	107.2
2022-07	109.0
2022-06	107.5
2022-05	109.6
2022-04	110.6
2022-03	113.2
2022-02	113.2
2022-01	110.5
2021-12	109.6
2021-11	112.2
2021-10	109.8
2021-09	105.4
2021-08	107.5
2021-07	107.2
2021-06	104.5
2021-05	100.1
2021-04	92.4
2021-03	92.8
2021-02	86.1
2021-01	88.2
2020-12	86.5
2020-11	85.1
2020-10	89.2
2020-09	92.4
2020-08	87.8
2020-07	76.4
2020-06	67.5
2020-05	55.4
2020-04	51.9
2020-03	97.4
2020-02	105.2
2020-01	105.1
2019-12	106.2
2019-11	106.0
2019-10	105.1
2019-09	105.9
2019-08	105.2
2019-07	106.0
2019-06	106.5
2019-05	105.5
2019-04	107.4
2019-03	107.8
2019-02	107.2
2019-01	105.2
2018-12	104.6
2018-11	104.9
2018-10	106.7
2018-09	107.2
2018-08	107.5
2018-07	108.2
2018-06	110.0
2018-05	109.2
2018-04	109.1
2018-03	110.1
2018-02	110.0
2018-01	109.3
2017-12	108.7
2017-11	108.0
2017-10	108.1
2017-09	106.7
2017-08	105.8
2017-07	107.5
2017-06	107.7
2017-05	107.2
2017-04	106.3
2017-03	107.5
2017-02	104.7
2017-01	105.1
2016-12	106.4
2016-11	104.6
2016-10	104.6
2016-09	104.3
2016-08	103.3
2016-07	103.8
2016-06	101.7
2016-05	102.3
2016-04	100.8
2016-03	99.9
2016-02	100.7
2016-01	101.9
2015-12	100.7
2015-11	101.8
2015-10	100.5
2015-09	100.3
2015-08	100.4
2015-07	99.7
2015-06	99.3
2015-05	97.5
2015-04	97.5
2015-03	95.7
2015-02	96.1
2015-01	93.9
2014-12	94.7
2014-11	94.6
2014-10	94.7
2014-09	94.8
2014-08	94.6
2014-07	96.0
2014-06	95.4
2014-05	97.1
2014-04	98.0
2014-03	95.6
2014-02	94.8
2014-01	95.5
2013-12	95.4
2013-11	93.4
2013-10	94.9
2013-09	92.7
2013-08	90.9
2013-07	90.6
2013-06	89.3
2013-05	86.9
2013-04	87.3
2013-03	88.6
2013-02	89.4
2013-01	92.6
2012-12	90.0
2012-11	90.3
2012-10	91.8
2012-09	91.3
2012-08	93.7
2012-07	92.9
2012-06	94.2
2012-05	95.5
2012-04	97.9
2012-03	99.2
2012-02	97.5
2012-01	98.0
2011-12	99.0
2011-11	100.7
2011-10	100.9
2011-09	103.7
2011-08	105.6
2011-07	109.6
2011-06	111.3
2011-05	111.1
2011-04	109.6
2011-03	109.4
2011-02	109.9
2011-01	104.2
2010-12	105.2
2010-11	104.6
2010-10	103.5
2010-09	101.1
2010-08	99.4
2010-07	99.0
2010-06	98.6
2010-05	97.4
2010-04	95.4
2010-03	93.3
2010-02	90.7
2010-01	90.0
2009-12	88.6
2009-11	86.4
2009-10	84.3
2009-09	82.5
2009-08	83.0
2009-07	78.4
2009-06	74.7
2009-05	73.5
2009-04	74.4
2009-03	73.8
2009-02	79.2
2009-01	80.8
2008-12	83.0
2008-11	88.1
2008-10	95.2
2008-09	99.8
2008-08	101.0
2008-07	105.3
2008-06	104.9
2008-05	108.2
2008-04	112.4
2008-03	112.3
2008-02	113.7
2008-01	113.4
2007-12	114.2
2007-11	112.6
2007-10	111.3
2007-09	113.0
2007-08	112.2
2007-07	110.9
2007-06	112.6
2007-05	113.0
2007-04	111.5
2007-03	111.0
2007-02	111.0
2007-01	109.1
2006-12	110.6
2006-11	110.0
2006-10	108.5
2006-09	107.9
2006-08	108.9
2006-07	109.6
2006-06	109.7
2006-05	107.9
2006-04	106.7
2006-03	104.5
2006-02	104.0
2006-01	103.8
2005-12	102.9
2005-11	103.5
2005-10	103.7
2005-09	103.4
2005-08	103.1
2005-07	102.4
2005-06	101.9
2005-05	102.3
2005-04	101.6
2005-03	104.1
2005-02	101.6
2005-01	101.8

graphiqueFrench employment climate composite indicator

Revisions

The composite indicators of the business climate in building construction and retail trade of September 2022 have been revised downwards by one point (after rounding). These revisions are mainly explained by the inclusion of late responses from companies. The other business climate indicators are unchanged (after rounding).

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 September and 18 October 2022.

Next issue: 24 November 2022 at 08:45 am.

Documentation

Changes to business tendency surveys related to European harmonisation – October 2021 (pdf,181 Ko)

Methodology note (in French) (pdf,245 Ko)

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