Insee
Informations Rapides · 21 December 2023 · n° 328
Informations rapidesIn December 2023, the business climate has improved slightly in services Monthly survey of services - December 2023

According to the business managers surveyed in December 2023, the business climate in services has improved a little. At 100, the indicator that synthesizes it has gained one point and has reached its long-term average.

Informations rapides
No 328
Paru le :Paru le21/12/2023
Prochaine parution le : 19/09/2025 at 08:45 - September 2025

According to the business managers surveyed in December 2023, the business climate in services has improved a little. At 100, the indicator that synthesizes it has gained one point and has reached its long-term average.

Business climate composite indicator

Business climate composite indicator
Business climate composite indicator
2023-12 99.7
2023-11 99.5
2023-10 99.9
2023-09 101.5
2023-08 101.6
2023-07 101.6
2023-06 101.9
2023-05 101.3
2023-04 103.0
2023-03 104.7
2023-02 105.2
2023-01 104.4
2022-12 103.5
2022-11 103.4
2022-10 104.4
2022-09 105.6
2022-08 106.5
2022-07 106.1
2022-06 107.5
2022-05 108.7
2022-04 108.3
2022-03 108.7
2022-02 111.6
2022-01 105.1
2021-12 107.1
2021-11 113.4
2021-10 112.4
2021-09 110.2
2021-08 108.6
2021-07 110.8
2021-06 112.3
2021-05 106.5
2021-04 91.5
2021-03 93.9
2021-02 87.6
2021-01 91.1
2020-12 89.3
2020-11 75.9
2020-10 87.4
2020-09 93.8
2020-08 93.5
2020-07 88.6
2020-06 77.7
2020-05 50.0
2020-04 39.1
2020-03 92.4
2020-02 105.7
2020-01 106.0
2019-12 106.3
2019-11 105.8
2019-10 105.1
2019-09 105.6
2019-08 105.1
2019-07 104.7
2019-06 105.6
2019-05 105.5
2019-04 105.5
2019-03 104.7
2019-02 103.6
2019-01 103.5
2018-12 101.8
2018-11 103.5
2018-10 102.9
2018-09 104.4
2018-08 104.0
2018-07 104.3
2018-06 104.3
2018-05 104.3
2018-04 105.9
2018-03 106.9
2018-02 106.7
2018-01 107.5
2017-12 108.6
2017-11 107.1
2017-10 106.4
2017-09 106.5
2017-08 106.3
2017-07 103.8
2017-06 103.2
2017-05 102.8
2017-04 103.2
2017-03 103.2
2017-02 102.9
2017-01 101.6
2016-12 103.5
2016-11 100.8
2016-10 100.7
2016-09 100.7
2016-08 100.1
2016-07 100.3
2016-06 99.1
2016-05 100.7
2016-04 98.3
2016-03 99.5
2016-02 99.8
2016-01 100.1
2015-12 97.1
2015-11 99.2
2015-10 99.4
2015-09 97.6
2015-08 98.5
2015-07 97.4
2015-06 96.8
2015-05 95.4
2015-04 94.0
2015-03 92.4
2015-02 91.5
2015-01 91.2
2014-12 91.4
2014-11 91.3
2014-10 91.2
2014-09 91.0
2014-08 91.6
2014-07 92.5
2014-06 92.3
2014-05 92.3
2014-04 93.3
2014-03 93.1
2014-02 92.2
2014-01 92.3
2013-12 90.9
2013-11 92.4
2013-10 91.8
2013-09 92.4
2013-08 88.7
2013-07 86.7
2013-06 86.0
2013-05 84.8
2013-04 83.4
2013-03 84.3
2013-02 87.2
2013-01 88.3
2012-12 87.2
2012-11 85.7
2012-10 86.2
2012-09 87.3
2012-08 87.5
2012-07 89.7
2012-06 90.1
2012-05 92.1
2012-04 95.7
2012-03 93.4
2012-02 92.0
2012-01 92.6
2011-12 94.6
2011-11 95.1
2011-10 97.3
2011-09 98.3
2011-08 100.5
2011-07 105.0
2011-06 107.1
2011-05 107.4
2011-04 108.8
2011-03 110.2
2011-02 109.1
2011-01 107.0
2010-12 106.7
2010-11 104.7
2010-10 102.8
2010-09 101.6
2010-08 100.6
2010-07 99.1
2010-06 98.3
2010-05 99.3
2010-04 97.7
2010-03 94.4
2010-02 94.3
2010-01 94.0
2009-12 92.7
2009-11 92.2
2009-10 90.7
2009-09 87.6
2009-08 84.3
2009-07 81.8
2009-06 78.0
2009-05 73.4
2009-04 69.3
2009-03 68.9
2009-02 73.9
2009-01 75.1
2008-12 77.7
2008-11 80.6
2008-10 84.6
2008-09 93.2
2008-08 95.1
2008-07 96.6
2008-06 101.0
2008-05 104.2
2008-04 106.7
2008-03 108.4
2008-02 108.4
2008-01 110.3
2007-12 108.9
2007-11 110.0
2007-10 109.9
2007-09 111.3
2007-08 112.1
2007-07 113.0
2007-06 112.5
2007-05 112.7
2007-04 112.8
2007-03 113.2
2007-02 112.2
2007-01 110.7
2006-12 111.2
2006-11 112.9
2006-10 110.6
2006-09 110.5
2006-08 110.3
2006-07 110.2
2006-06 109.0
2006-05 110.3
2006-04 107.7
2006-03 107.4
2006-02 106.2
2006-01 108.8
2005-12 106.9
2005-11 106.4
2005-10 108.3
2005-09 106.7
2005-08 107.1
2005-07 107.5
2005-06 108.1
2005-05 106.0
2005-04 107.9
2005-03 108.2
2005-02 106.2
2005-01 106.4

Business climate composite indicator

  • Source: INSEE

Business managers in services are more optimistic in December about their personal activity prospects as well as those of their sector

In December 2023, business managers in services are more optimistic than in the previous month about their personal activity prospects: the balance of opinion on the expected activity has rebounded and has moved above its long-term average. The one on the general business outlook for the sector has improved a little and stands just below its own. At the same time, the balance related to the expected demand is stable, slightly below its average. The one on the felt economic uncertainty has rebounded a little.

By contrast, the balance of opinion on the activity over the past three months has fallen back and has moved away from its average level.

The balances on the recent and expected change in selling prices have both retreated, but remain above their long-term average.

Expected prices in services

Expected prices in services
Expected prices
2023-12 2.9
2023-11 4.5
2023-10 5.4
2023-09 8.6
2023-08 7.2
2023-07 6.2
2023-06 6.7
2023-05 7.3
2023-04 11.9
2023-03 14.5
2023-02 16.1
2023-01 18.6
2022-12 15.8
2022-11 13.2
2022-10 12.2
2022-09 11.2
2022-08 10.7
2022-07 10.8
2022-06 11.4
2022-05 10.3
2022-04 10.3
2022-03 8.0
2022-02 8.2
2022-01 7.1
2021-12 5.2
2021-11 7.0
2021-10 4.5
2021-09 3.9
2021-08 4.3
2021-07 3.7
2021-06 1.0
2021-05 -0.6
2021-04 -9.7
2021-03 -7.4
2021-02 -11.5
2021-01 -10.1
2020-12 -8.2
2020-11 -12.5
2020-10 -8.9
2020-09 -3.0
2020-08 -5.3
2020-07 -8.7
2020-06 -12.3
2020-05 -22.4
2020-04 -23.9
2020-03 -3.3
2020-02 0.4
2020-01 0.0
2019-12 0.2
2019-11 -0.1
2019-10 1.7
2019-09 -0.6
2019-08 -1.1
2019-07 0.0
2019-06 0.2
2019-05 -1.6
2019-04 -3.0
2019-03 -1.0
2019-02 -2.6
2019-01 -2.3
2018-12 0.1
2018-11 -2.5
2018-10 -2.8
2018-09 -1.5
2018-08 -0.6
2018-07 -6.8
2018-06 -4.9
2018-05 -1.8
2018-04 -3.2
2018-03 -3.4
2018-02 -3.7
2018-01 -2.4
2017-12 -3.4
2017-11 -2.7
2017-10 -2.4
2017-09 -1.7
2017-08 -5.6
2017-07 -7.0
2017-06 -4.5
2017-05 -4.8
2017-04 -5.4
2017-03 -3.7
2017-02 -3.7
2017-01 -6.3
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 -8.9
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 -8.5
2013-10 -10.1
2013-09 -10.4
2013-08 -10.7
2013-07 -12.3
2013-06 -12.0
2013-05 -12.3
2013-04 -12.3
2013-03 -12.0
2013-02 -11.9
2013-01 -9.8
2012-12 -9.2
2012-11 -9.6
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 3.2
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 2.7
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

Expected prices in services

  • Source: INSEE

Regarding employment, the balances of opinion on the recent and expected change in the workforce size have deteriorated, moving further away from their average level.

Economic outlook in the services sector

Balances of opinion, in %, seasonally adjusted
Economic outlook in the services sector (Balances of opinion, in %, seasonally adjusted)
Average* Sept. 2023 Oct. 2023 Nov. 2023 Dec. 2023
Composite indicator 100 101 100 99 100
General outlook -7 -5 -9 -9 -8
Past activity 2 -1 -1 0 -3
Expected activity 2 3 2 1 4
Expected demand 0 1 -1 -1 -1
Past selling prices -3 8 5 6 4
Expected selling prices -2 9 5 5 3
Past employment 2 -2 -4 -2 -5
Past employment except temporary work agencies 0 -1 -3 -1 -6
Expected employment 2 4 6 0 -3
Expected employment except temporary work agencies 0 3 2 -3 -2
Economic uncertainty felt** 12 11 14 11 12
  • * 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 has improved in most sectors or has held up

In December 2023, in accommodation and food service activities, the business climate indicator has improved sharply and has moved above its long-term average. This growth is due to the strong progression of the balance of opinion on the expected demand and on the general and personal business outlook, all three of which have moved above their average level.

In road freight transport, the business climate has rebounded. In particular, the balances on the expected demand and activity have increased markedly, but remain sharply below their average level. Those on the general business outlook and on the past activity have risen as well, but remain well below their respective average. Conversely, the one on the expected workforce size has diminished.

In professional, scientific and technical activities, the business climate indicator has rebounded. The balances of opinion on the general and personal business outlook, on the expected demand and on the workforce size have risen and have moved closer to their respective long-term average.

In information and communication, the business climate remains stable, above its average level. The balances of opinion on the past and expected activity and the one on the expected demand have deteriorated sharply. Conversely, the one on the expected workforce size has improved markedly and has moved above its average again.

In administrative and support service activities, the business climate has held up at its average level for the third month in a row.

Finally, in real estate activities, the business climate is stable compared to the previous month, well below its average.

Business climate composite indicator and balances of opinion by sub-sector in services

Balances of opinion, in %, seasonally adjusted
Business climate composite indicator and balances of opinion by sub-sector in services (Balances of opinion, in %, seasonally adjusted)
Aggregated classification (NA 2008) at level A21 Average* Sept. 2023 Oct. 2023 Nov. 2023 Dec. 2023
Road transport (8%)
Composite indicator 100 96 92 87 92
General outlook -18 -27 -31 -39 -33
Past activity -6 -21 -28 -36 -33
Expected activity -7 -13 -15 -32 -19
Expected demand -9 -15 -31 -31 -17
Past employment -5 -9 -9 -9 -17
Expected employment -6 -5 -11 -11 -16
Accommodation and food service activities (8%)
Composite indicator 100 101 99 97 104
General outlook -13 -10 -17 -18 -3
Past activity -7 -10 -14 -19 -12
Expected activity -7 0 -9 -15 -5
Expected demand -9 -15 -11 -12 -6
Past employment -5 3 -6 3 -13
Expected employment -6 -5 -1 -6 -4
Information and communication (29%)
Composite indicator 100 102 104 104 104
General outlook 0 2 1 3 3
Past activity 8 11 19 26 13
Expected activity 9 9 19 22 18
Expected demand 9 11 15 18 14
Past employment 6 11 7 3 1
Expected employment 10 7 11 4 11
Real estate activities (10%)
Composite indicator 100 87 85 88 88
General outlook -4 -13 -16 -12 -12
Past activity 6 -4 -9 -6 -7
Expected activity 6 -8 -9 -3 -4
Expected demand 1 -7 -6 -7 -11
Past employment 3 -8 -3 -2 -4
Expected employment 3 2 1 -5 -3
Professional, scientific and technical activities (25%)
Composite indicator 100 101 98 94 98
General outlook -8 -4 -9 -11 -9
Past activity -1 -2 -4 -10 -15
Expected activity -2 -5 -7 -11 -5
Expected demand -5 -7 -8 -14 -8
Past employment 1 1 0 -6 -5
Expected employment 1 6 1 -3 -1
Administrative and support service activities (18%)
Composite indicator 100 105 100 100 100
General outlook -3 3 -3 -1 -3
Past activity 5 7 1 -2 0
Expected activity 5 12 4 4 6
Expected demand 3 9 1 5 3
Past employment 7 0 -5 -8 -4
Expected employment 7 9 9 6 -2
  • The figures in parentheses indicate the weights used to aggregate the sub-sector balances of opinion. The “other services” sub-sector is not displayed due to its low weight.
  • *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.

Revision

The business climate indicator in services of November 2023 has been revised downwards by one point (after rounding). This revision is mainly due to the inclusion of late responses from businesses.

For further information

The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.

For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.

This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

The responses to this survey were collected between 24 November and 18 December 2023.

Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.

Next issue: 25 January 2024 at 8:45 am.

Pour en savoir plus

The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.

For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.

This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

The responses to this survey were collected between 24 November and 18 December 2023.

Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.

Next issue: 25 January 2024 at 8:45 am.

: bureau-de-presse@insee.fr