Insee
Informations Rapides · 20 July 2023 · n° 183
Informations rapidesIn July 2023, the business climate in retail trade and in trade and repair of motor vehicles has improved again Monthly survey of retailing - July 2023

In July 2023, the business climate in retail trade and trade and repair of motor vehicles as a whole has improved again sharply. At 106, the indicator that synthesizes it has gained four points and lies above its long-term average (100). This increase is mainly due to the rise of the balance of opinion concerning the general business outlook.

Informations rapides
No 183
Paru le :Paru le20/07/2023
Prochaine parution le : 19/09/2025 at 08:45 - September 2025
Warning

The seasonal coefficients as well as the parameters of the composite indicators have been updated in July 2023. That has led to revisions in the set of results previously published from this survey. Those revisions are for the most part quite minor and have no impact on the analysis of the business situation.

In July 2023, the business climate in retail trade and trade and repair of motor vehicles as a whole has improved again sharply. At 106, the indicator that synthesizes it has gained four points and lies above its long-term average (100). This increase is mainly due to the rise of the balance of opinion concerning the general business outlook.

Composite indicator

Composite indicator
Business climate synthetic indicator
2023-07 105.7
2023-06 101.7
2023-05 96.7
2023-04 100.0
2023-03 97.5
2023-02 100.2
2023-01 99.4
2022-12 98.7
2022-11 96.2
2022-10 97.5
2022-09 96.8
2022-08 99.1
2022-07 95.5
2022-06 94.6
2022-05 94.1
2022-04 91.2
2022-03 98.7
2022-02 105.6
2022-01 104.0
2021-12 106.8
2021-11 107.8
2021-10 106.5
2021-09 107.9
2021-08 110.0
2021-07 114.0
2021-06 116.2
2021-05 107.7
2021-04 91.8
2021-03 96.4
2021-02 89.3
2021-01 93.7
2020-12 93.5
2020-11 71.1
2020-10 98.0
2020-09 98.1
2020-08 96.9
2020-07 90.5
2020-06 86.7
2020-05 61.9
2020-04 58.5
2020-03 93.7
2020-02 107.2
2020-01 106.7
2019-12 108.6
2019-11 106.6
2019-10 106.5
2019-09 107.1
2019-08 103.3
2019-07 106.0
2019-06 104.8
2019-05 104.9
2019-04 107.8
2019-03 105.1
2019-02 103.5
2019-01 102.1
2018-12 100.2
2018-11 107.4
2018-10 107.5
2018-09 110.0
2018-08 116.0
2018-07 113.8
2018-06 113.6
2018-05 113.0
2018-04 113.5
2018-03 114.4
2018-02 116.9
2018-01 117.2
2017-12 116.6
2017-11 116.1
2017-10 116.5
2017-09 113.3
2017-08 111.1
2017-07 111.9
2017-06 111.2
2017-05 107.0
2017-04 105.7
2017-03 107.8
2017-02 107.5
2017-01 108.8
2016-12 108.2
2016-11 103.2
2016-10 102.0
2016-09 102.9
2016-08 104.6
2016-07 104.5
2016-06 104.0
2016-05 106.1
2016-04 103.0
2016-03 103.9
2016-02 102.5
2016-01 104.2
2015-12 101.6
2015-11 105.1
2015-10 108.3
2015-09 105.9
2015-08 106.6
2015-07 103.2
2015-06 104.2
2015-05 103.1
2015-04 103.1
2015-03 102.2
2015-02 102.0
2015-01 98.8
2014-12 94.4
2014-11 92.8
2014-10 89.4
2014-09 88.6
2014-08 90.7
2014-07 96.7
2014-06 94.7
2014-05 96.4
2014-04 96.5
2014-03 95.4
2014-02 94.7
2014-01 95.2
2013-12 94.1
2013-11 92.0
2013-10 95.4
2013-09 97.7
2013-08 93.5
2013-07 85.5
2013-06 85.1
2013-05 83.6
2013-04 84.6
2013-03 86.5
2013-02 89.7
2013-01 85.1
2012-12 88.0
2012-11 88.3
2012-10 87.5
2012-09 86.0
2012-08 91.0
2012-07 89.3
2012-06 93.1
2012-05 91.0
2012-04 96.1
2012-03 93.4
2012-02 90.7
2012-01 88.3
2011-12 93.0
2011-11 93.9
2011-10 94.7
2011-09 93.9
2011-08 98.3
2011-07 101.4
2011-06 102.1
2011-05 103.9
2011-04 103.1
2011-03 103.7
2011-02 106.4
2011-01 106.6
2010-12 107.8
2010-11 104.3
2010-10 107.4
2010-09 105.8
2010-08 106.1
2010-07 101.0
2010-06 101.0
2010-05 101.7
2010-04 103.1
2010-03 97.9
2010-02 98.7
2010-01 98.3
2009-12 96.6
2009-11 98.2
2009-10 92.7
2009-09 90.5
2009-08 87.5
2009-07 86.1
2009-06 79.8
2009-05 80.6
2009-04 75.9
2009-03 82.5
2009-02 78.7
2009-01 77.8
2008-12 76.6
2008-11 84.1
2008-10 80.8
2008-09 96.2
2008-08 93.1
2008-07 95.4
2008-06 99.4
2008-05 103.0
2008-04 103.4
2008-03 109.3
2008-02 108.5
2008-01 109.9
2007-12 114.3
2007-11 112.6
2007-10 111.3
2007-09 111.7
2007-08 115.0
2007-07 116.9
2007-06 120.3
2007-05 114.4
2007-04 113.1
2007-03 110.9
2007-02 112.1
2007-01 107.5
2006-12 108.2
2006-11 110.6
2006-10 111.5
2006-09 110.2
2006-08 109.5
2006-07 107.9
2006-06 107.5
2006-05 105.2
2006-04 103.4
2006-03 102.1
2006-02 102.5
2006-01 102.9
2005-12 103.9
2005-11 99.6
2005-10 101.5
2005-09 98.9
2005-08 97.7
2005-07 95.8
2005-06 97.9
2005-05 101.2
2005-04 103.5
2005-03 104.1
2005-02 103.6
2005-01 105.8

Composite indicator

  • Source: INSEE

The balance of opinion related to the general business outlook has increased sharply

In July 2023, the balance of opinion on the general business outlook has increased again sharply and has moved away from its long-term average. The one on ordering intentions has increased very slightly for its part, to the level of its own. The balance associated with the past sales has rebounded strongly and has moved above its average, while the balance on the expected sales has increased again slightly but remains below its own. Finally, for the third month in a row, fewer business managers consider that the evolution of their business situation is difficult to forecast compared to the previous month.

Concerning employment, the balance of opinion associated with the recent change in the workforce size has increased sharply and the one related to its expected change has increased again, more slightly. Both of them remain nonetheless below their long-term average.

The balance associated with the current level of stocks has increased again a little and has moved away from its average.

Tendency in retail trade and in trade and repair of motor vehicles

Balances of opinion, in %, S.A.
Tendency in retail trade and in trade and repair of motor vehicles (Balances of opinion, in %, S.A.)
Ave. (1) Apr. 23 May 23 June 23 July 23
Business climate 100 100 97 102 106
General business outlook -28 -21 -22 -17 -9
Recent sales -7 -2 -6 -9 -2
Expected sales -3 -1 -8 -7 -6
Ordering intentions -8 -11 -16 -9 -8
Stocks 10 7 8 17 19
Past selling prices (2) -3 - 37 - 22
Expected selling prices -1 37 27 19 15
Cash position (2) -15 - -19 - -19
Past workforce size 0 -8 -11 -10 -5
Expected workforce size -4 -10 -12 -8 -6
Economic uncertainty felt (3) 38 42 40 36 34
  • (1) Average since 1991 (except 2004 for recent and expected sales and ordering intentions, and April 2021 for uncertainty felt).
  • (2) Bimonthly question (odd-numbered months).
  • (3) Non-seasonally adjusted balance.
  • Source: INSEE - monthly survey in retail trade and in trade and repair of motor vehicles

Recent sales and ordering intentions

Recent sales and ordering intentions
Ordering intentions Recent sales
2023-07 -8.2 -2.0
2023-06 -8.8 -9.1
2023-05 -16.0 -5.8
2023-04 -11.3 -1.6
2023-03 -14.9 -5.7
2023-02 -10.4 -1.2
2023-01 -11.8 6.0
2022-12 -10.4 -1.4
2022-11 -15.4 2.1
2022-10 -8.7 -2.8
2022-09 -13.9 -4.9
2022-08 -7.4 -12.3
2022-07 -10.7 -20.4
2022-06 -12.6 -16.1
2022-05 -14.4 -12.9
2022-04 -18.7 -18.6
2022-03 -5.0 -12.4
2022-02 -3.1 -7.0
2022-01 -3.3 -4.7
2021-12 -1.6 -6.2
2021-11 -0.5 -11.0
2021-10 -3.8 -17.6
2021-09 -2.0 -11.2
2021-08 3.9 11.0
2021-07 2.6 0.3
2021-06 1.0 -2.0
2021-05 -7.2 -10.9
2021-04 -16.0 -7.4
2021-03 -8.5 -16.4
2021-02 -15.5 -14.1
2021-01 -13.4 -5.4
2020-12 -11.4 -21.8
2020-11 -37.0 7.4
2020-10 0.4 -2.1
2020-09 -6.3 6.2
2020-08 -3.9 -9.9
2020-07 -9.6 -42.0
2020-06 -13.8 -48.2
2020-05 -47.3 -56.4
2020-04 -56.4 -4.3
2020-03 -12.5 -4.4
2020-02 -0.6 1.6
2020-01 -2.8 11.1
2019-12 1.3 -1.5
2019-11 -1.0 -5.8
2019-10 -2.5 -6.3
2019-09 -3.7 0.5
2019-08 -7.8 -5.0
2019-07 -5.0 -3.7
2019-06 -7.6 -9.0
2019-05 -6.3 -10.9
2019-04 0.3 -12.9
2019-03 -2.4 -17.9
2019-02 -6.2 -10.0
2019-01 -6.4 -9.1
2018-12 -5.6 -9.1
2018-11 -0.6 -6.8
2018-10 -2.2 -8.1
2018-09 0.6 2.0
2018-08 13.4 0.3
2018-07 3.7 -2.1
2018-06 5.2 -8.7
2018-05 2.6 -6.9
2018-04 2.1 -9.7
2018-03 2.3 -8.2
2018-02 4.2 5.1
2018-01 6.3 1.9
2017-12 5.9 1.5
2017-11 7.7 -5.1
2017-10 9.3 -0.4
2017-09 2.3 -1.6
2017-08 -0.8 -1.0
2017-07 -1.4 5.5
2017-06 -1.0 -5.9
2017-05 -3.2 -5.5
2017-04 -3.5 -11.9
2017-03 0.2 -1.8
2017-02 -0.4 4.2
2017-01 1.5 1.0
2016-12 -0.1 -1.2
2016-11 -9.2 -6.3
2016-10 -8.2 -10.7
2016-09 -6.1 -10.5
2016-08 -3.9 -4.1
2016-07 -5.1 -5.1
2016-06 -3.7 -4.0
2016-05 -3.8 4.8
2016-04 -8.7 1.5
2016-03 -3.5 -5.2
2016-02 -6.8 -9.2
2016-01 -6.1 -4.9
2015-12 -5.2 -15.3
2015-11 -3.5 3.0
2015-10 0.3 4.4
2015-09 -2.6 1.6
2015-08 -1.5 8.0
2015-07 -6.3 -0.6
2015-06 -1.3 -8.3
2015-05 -3.0 -4.4
2015-04 -2.2 -2.6
2015-03 -3.3 -5.4
2015-02 -1.9 -4.3
2015-01 -4.9 -8.6
2014-12 -12.7 -10.2
2014-11 -13.6 -14.7
2014-10 -16.8 -23.7
2014-09 -18.4 -30.6
2014-08 -17.3 -19.8
2014-07 -10.3 -5.9
2014-06 -13.8 -11.9
2014-05 -11.3 -14.8
2014-04 -9.6 -21.3
2014-03 -11.1 -16.9
2014-02 -13.3 -13.1
2014-01 -12.7 -10.7
2013-12 -15.2 -10.6
2013-11 -13.5 -12.9
2013-10 -13.4 -11.5
2013-09 -7.5 -12.8
2013-08 -13.4 -18.3
2013-07 -23.1 -26.0
2013-06 -19.4 -24.4
2013-05 -21.7 -29.8
2013-04 -19.6 -31.8
2013-03 -17.1 -25.9
2013-02 -14.0 -27.2
2013-01 -25.5 -17.3
2012-12 -17.7 -21.2
2012-11 -18.5 -16.4
2012-10 -19.3 -23.0
2012-09 -21.7 -23.8
2012-08 -15.1 -8.3
2012-07 -15.4 -19.5
2012-06 -12.9 -18.3
2012-05 -16.8 -14.8
2012-04 -13.7 -8.1
2012-03 -16.0 -12.3
2012-02 -15.4 -15.4
2012-01 -19.9 -20.3
2011-12 -13.9 -17.5
2011-11 -12.6 -13.0
2011-10 -13.5 -15.7
2011-09 -13.1 -17.4
2011-08 -11.3 -6.5
2011-07 -11.6 -9.4
2011-06 -11.4 0.1
2011-05 -7.9 3.6
2011-04 -7.2 1.7
2011-03 -5.8 -6.4
2011-02 -2.4 1.6
2011-01 -1.8 4.3
2010-12 -1.3 4.1
2010-11 -4.9 -8.0
2010-10 1.3 -3.9
2010-09 -2.3 -1.8
2010-08 -1.6 4.0
2010-07 -7.9 -5.3
2010-06 -4.7 -1.0
2010-05 -7.0 2.1
2010-04 -4.5 -2.7
2010-03 -10.0 -20.1
2010-02 -9.9 -13.0
2010-01 -13.4 -4.7

Recent sales and ordering intentions

  • Source: INSEE

The balances of opinion on prices have declined again

In July 2023, the balances of opinion on the expected and past selling prices have decreased again, after having reached in March 2023 their highest level since the beginning of the series (1991). They remain nonetheless well above their long-term average.

Expected prices in retail trade and in trade and repair of motor vehicles

Expected prices in retail trade and in trade and repair of motor vehicles
Expected prices
2023-07 14.9
2023-06 18.8
2023-05 26.8
2023-04 37.0
2023-03 46.7
2023-02 45.3
2023-01 41.2
2022-12 37.3
2022-11 38.2
2022-10 44.5
2022-09 40.9
2022-08 42.2
2022-07 40.3
2022-06 41.0
2022-05 41.3
2022-04 36.1
2022-03 37.5
2022-02 35.8
2022-01 26.1
2021-12 24.9
2021-11 26.2
2021-10 23.5
2021-09 15.1
2021-08 14.4
2021-07 13.4
2021-06 10.1
2021-05 3.7
2021-04 0.5
2021-03 1.7
2021-02 -0.2
2021-01 0.3
2020-12 -3.9
2020-11 -4.0
2020-10 2.9
2020-09 1.0
2020-08 -0.1
2020-07 -2.7
2020-06 -3.6
2020-05 -8.2
2020-04 -8.1
2020-03 -1.5
2020-02 2.1
2020-01 -0.2
2019-12 3.0
2019-11 1.5
2019-10 3.9
2019-09 1.8
2019-08 -1.0
2019-07 -1.2
2019-06 -3.3
2019-05 -0.5
2019-04 2.3
2019-03 0.9
2019-02 0.3
2019-01 -2.9
2018-12 4.1
2018-11 -1.3
2018-10 -0.6
2018-09 0.3
2018-08 -1.6
2018-07 0.7
2018-06 -3.3
2018-05 -2.0
2018-04 -3.0
2018-03 -3.4
2018-02 0.9
2018-01 -3.5
2017-12 -1.6
2017-11 1.4
2017-10 3.6
2017-09 -2.0
2017-08 -0.4
2017-07 -2.5
2017-06 -2.1
2017-05 -7.4
2017-04 -4.2
2017-03 -1.1
2017-02 -4.1
2017-01 0.2
2016-12 -0.7
2016-11 -1.2
2016-10 -7.3
2016-09 -6.5
2016-08 -4.2
2016-07 -4.5
2016-06 -7.6
2016-05 -4.7
2016-04 -6.4
2016-03 -5.1
2016-02 -6.6
2016-01 -8.3
2015-12 -7.5
2015-11 -2.8
2015-10 -3.0
2015-09 -7.2
2015-08 -7.8
2015-07 -5.6
2015-06 -3.1
2015-05 -7.4
2015-04 -5.3
2015-03 -9.3
2015-02 -10.0
2015-01 -11.7
2014-12 -11.4
2014-11 -11.8
2014-10 -13.8
2014-09 -14.0
2014-08 -12.2
2014-07 -9.7
2014-06 -13.9
2014-05 -14.2
2014-04 -16.4
2014-03 -12.7
2014-02 -10.3
2014-01 -2.4
2013-12 -1.0
2013-11 -3.6
2013-10 -2.9
2013-09 -0.5
2013-08 -3.5
2013-07 -1.6
2013-06 -6.9
2013-05 -0.7
2013-04 -13.8
2013-03 -1.6
2013-02 -8.2
2013-01 -6.3
2012-12 -1.6
2012-11 -5.0
2012-10 -4.8
2012-09 -0.9
2012-08 -3.6
2012-07 -1.8
2012-06 -2.0
2012-05 -1.6
2012-04 -1.2
2012-03 3.7
2012-02 3.7
2012-01 5.1
2011-12 7.1
2011-11 4.8
2011-10 3.3
2011-09 3.3
2011-08 5.2
2011-07 4.8
2011-06 5.2
2011-05 9.7
2011-04 9.0
2011-03 7.6
2011-02 5.8
2011-01 2.5
2010-12 -1.4
2010-11 -0.2
2010-10 0.8
2010-09 -1.7
2010-08 -5.0
2010-07 -3.6
2010-06 -0.8
2010-05 -3.4
2010-04 -4.2
2010-03 -4.3
2010-02 -5.0
2010-01 -5.7
2009-12 -5.7
2009-11 -9.3
2009-10 -8.0
2009-09 -4.9
2009-08 -11.4
2009-07 -5.7
2009-06 -16.4
2009-05 -17.4
2009-04 -18.3
2009-03 -30.6
2009-02 -17.4
2009-01 -17.8
2008-12 -20.4
2008-11 -26.8
2008-10 -6.3
2008-09 -15.4
2008-08 4.6
2008-07 6.0
2008-06 3.8
2008-05 1.9
2008-04 1.5
2008-03 8.1
2008-02 1.5
2008-01 5.4
2007-12 3.1
2007-11 14.5
2007-10 0.0
2007-09 7.8
2007-08 0.7
2007-07 -6.0
2007-06 -5.0
2007-05 -1.7
2007-04 -8.9
2007-03 -5.8
2007-02 -1.7
2007-01 -6.2

Expected prices in retail trade and in trade and repair of motor vehicles

  • Source: INSEE

The economic outlook has improved strongly in trade and repair of motor vehicles

The balance of opinion on the general business outlook has recovered sharply in trade and repair of motor vehicles, and has continued its rebound in retail trade (excluding trade and repair of motor vehicles). Concerning the balance on ordering intentions, it has rebounded strongly in trade and repair of motor vehicles, but has retreated in retail trade (excluding trade and repair of motor vehicles). The one on the past sales has increased strongly in retail trade (excluding trade and repair of motor vehicles) and slightly in trade and repair of motor vehicles.

The cash position has evolved more favourably in trade and repair of motor vehicles. The corresponding bimonthly balance of opinion has increased in this sub-sector and has moved away from its long-term average, while it has diminished again in retail trade (excluding trade and repair of motor vehicles) and has moved away from its own.

The balance on the expected selling prices has decreased sharply in both sub-sectors but remains above its average.

Balances of opinion by sub-sector in retail trade and trade and repair of motor vehicles

Balances of opinion, in %, S.A.
Balances of opinion by sub-sector in retail trade and trade and repair of motor vehicles (Balances of opinion, in %, S.A.)
Ave. (1) Apr. 23 May 23 June 23 July 23
Retail trade
General business outlook -28 -20 -21 -15 -9
Recent sales -7 5 -4 -5 5
Expected sales -2 1 -6 -2 -4
Ordering intentions -7 -10 -17 -4 -10
Stocks 9 8 11 21 21
Past selling prices (2) -5 - 42 - 24
Expected selling prices -3 45 32 19 16
Cash position (2) -14 - -20 - -21
Past workforce size 0 -9 -13 -11 -4
Expected workforce size -4 -13 -13 -10 -11
Economic uncertainty felt (3) 36 40 38 33 31
Trade and repair of motor vehicles
General business outlook -26 -24 -19 -20 -10
Recent sales -7 -16 -10 -18 -17
Expected sales -7 -6 -12 -18 -12
Ordering intentions -9 -15 -14 -20 -5
Stocks 11 4 0 10 15
Past selling prices (2) 5 - 26 - 18
Expected selling prices 7 18 15 19 13
Cash position (2) -21 - -17 - -13
Past workforce size -7 -2 -3 -3 -10
Expected workforce size -5 3 -8 -4 12
Economic uncertainty felt (3) 44 47 45 42 42
  • (1) Average since 1991 for retail trade and 2003 for trade and repair of motor vehicles (except 2004 for recent and expected sales and ordering intentions, and April 2021 for uncertainty felt).
  • (2) Bimonthly question (odd-numbered months).
  • (3) Non-seasonally adjusted balance.
  • Source: INSEE - monthly survey in retail trade and in trade and repair of motor vehicles

Revisions

The business climate for June 2023 in retail trade and trade and repair of motor vehicles has not been revised (after rounding).

For more information

The whole sector “retail trade and trade and repair of motor vehicles” is composed for 70% of retail trade and for 30% of trade and repair of motor vehicles.

For the three-modality questions, a balance of opinion is the difference between weighted percentage of “increase” or “above normal” answers and weighted percentage of “decrease” or “below normal” answers.

Company responses were collected between 26 June and 17 July 2023.

Next issue: 24 August 2023 at 8:45 am

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