Informations Rapides ·
25 January 2024 · n° 17
In January 2024, the business climate in services is slightly more favourable Monthly survey of services - January 2024
According to the business managers surveyed in January 2024, the business climate in services has slightly improved. At 101, the indicator that synthesizes it has gained one point and stands just above its long-term average (100). This slight improvement results mainly from the increase of the balance of opinion on the expected demand.
According to the business managers surveyed in January 2024, the business climate in services has slightly improved. At 101, the indicator that synthesizes it has gained one point and stands just above its long-term average (100). This slight improvement results mainly from the increase of the balance of opinion on the expected demand.
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2024-01 | 101.1 |
| 2023-12 | 100.1 |
| 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 | 108.7 |
| 2021-07 | 110.8 |
| 2021-06 | 112.4 |
| 2021-05 | 106.5 |
| 2021-04 | 91.5 |
| 2021-03 | 93.9 |
| 2021-02 | 87.6 |
| 2021-01 | 91.0 |
| 2020-12 | 89.3 |
| 2020-11 | 75.9 |
| 2020-10 | 87.3 |
| 2020-09 | 93.8 |
| 2020-08 | 93.5 |
| 2020-07 | 88.6 |
| 2020-06 | 77.7 |
| 2020-05 | 49.9 |
| 2020-04 | 39.0 |
| 2020-03 | 92.3 |
| 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 | 107.6 |
| 2017-12 | 108.7 |
| 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 | 97.0 |
| 2015-11 | 99.2 |
| 2015-10 | 99.4 |
| 2015-09 | 97.5 |
| 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 | 91.3 |
| 2014-11 | 91.2 |
| 2014-10 | 91.2 |
| 2014-09 | 91.0 |
| 2014-08 | 91.5 |
| 2014-07 | 92.5 |
| 2014-06 | 92.2 |
| 2014-05 | 92.2 |
| 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 | 92.3 |
| 2013-08 | 88.7 |
| 2013-07 | 86.7 |
| 2013-06 | 86.0 |
| 2013-05 | 84.7 |
| 2013-04 | 83.3 |
| 2013-03 | 84.2 |
| 2013-02 | 87.2 |
| 2013-01 | 88.2 |
| 2012-12 | 87.2 |
| 2012-11 | 85.7 |
| 2012-10 | 86.2 |
| 2012-09 | 87.3 |
| 2012-08 | 87.5 |
| 2012-07 | 89.6 |
| 2012-06 | 90.1 |
| 2012-05 | 92.0 |
| 2012-04 | 95.7 |
| 2012-03 | 93.4 |
| 2012-02 | 92.0 |
| 2012-01 | 92.5 |
| 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 | 92.6 |
| 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 | 69.2 |
| 2009-03 | 68.8 |
| 2009-02 | 73.9 |
| 2009-01 | 75.1 |
| 2008-12 | 77.7 |
| 2008-11 | 80.6 |
| 2008-10 | 84.5 |
| 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 | 112.9 |
| 2007-03 | 113.2 |
| 2007-02 | 112.3 |
| 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 | 108.9 |
| 2005-12 | 106.9 |
| 2005-11 | 106.4 |
| 2005-10 | 108.3 |
| 2005-09 | 106.8 |
| 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 |
graphiqueBusiness climate composite indicator
- Source: INSEE
The opinion of business managers on the expected demand has improved
In January 2024, the balance of opinion related to the expected demand has risen and has moved above its long term average. The one related to the general business outlook for the sector has held up, a little below its long-term average. Nevertheless, compared to the previous month, the business managers are less optimistic about their personal business outlook. The balance of opinion has fallen back and has moved slightly below its average level. Conversely, the one on the activity over the past three months has increased and has moved above its own.
Concerning the selling prices, the balances related to their recent and expected change are virtually stable, above their long-term average.
The balance on the economic uncertainty felt has slightly diminished for its part.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2024-01 | 6.1 |
| 2023-12 | 5.4 |
| 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 |
graphiqueExpected prices in services
- Source: INSEE
In January 2024, the balance of opinion on the expected workforce size over the next three months has rebounded, reaching its average level. Besides, the one on the change in the workforce size over the last three months is stable, below its own.
At the same time, 44% of business managers have reported difficulties in recruitment. This share is lower than in October 2023 (51%) but remains well above its long-term average.
The quarterly balance of opinion on the expected investment for the next three months has continued to decline and has moved away from its average again.
Concerning the obstacles preventing them from increasing their activity, slightly more business managers have reported difficulties of demand only compared to three months ago, but their share is well below its long-term average. Conversely, the proportion of business managers reporting difficulties of supply only has diminished, as it is the case since the fourth quarter of 2022. It is back below its average for the first time since April 2021.
The quarterly balance on the cash position has slightly rebounded, moving just above its long-term average.
tableauEconomic outlook in the services sector
| Average* | Oct. 2023 | Nov. 2023 | Dec. 2023 | Jan. 2024 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 100 | 99 | 100 | 101 |
| General outlook | -7 | -9 | -9 | -8 | -8 |
| Past activity | 2 | -1 | 0 | 0 | 4 |
| Expected activity | 2 | 2 | 1 | 4 | 1 |
| Expected demand | 0 | -1 | -1 | -1 | 3 |
| Past selling prices | -3 | 5 | 6 | 3 | 3 |
| Expected selling prices | -2 | 5 | 5 | 5 | 6 |
| Past employment | 2 | -4 | -2 | -4 | -4 |
| Past employment except temporary work agencies | 0 | -3 | -1 | -5 | -3 |
| Expected employment | 2 | 6 | 0 | -3 | 2 |
| Expected employment except temporary work agencies | 0 | 2 | -3 | -2 | -4 |
| Cash position | -11 | -11 | -10 | ||
| Difficulties of supply and demand | |||||
| difficulties of supply and demand (in %) | 9 | 7 | 7 | ||
| difficulties of supply only (in %) | 24 | 25 | 23 | ||
| difficulties of demand only (in %) | 28 | 15 | 17 | ||
| Difficulties in recruitment (in %) | 31 | 51 | 44 | ||
| Expected investments | 3 | 1 | 0 | ||
| Economic uncertainty felt** | 12 | 14 | 11 | 11 | 10 |
- * 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.
In road freight transport and real estate activities, the business climate has improved but remains deteriorated
In January 2024, in real estate activities, the business climate has sharply improved but remains well below its long-term average. This rise is partly due to the significant rebound in the balances of opinion on the past and expected activity and on the expected demand. All three remain nevertheless below their average.
In professional, scientific and technical activities, the business climate indicator has increased again and has moved above its average level. The balances of opinion on the general business outlook and on the expected workforce size have improved again and have moved above their long-term average.
In road freight transport, the business climate indicator has improved again but remains deteriorated. In particular, the balances of opinion on the general business outlook and on the activity have risen again and those on the workforce size, particularly low last month, have rebounded.
The business climate indicator in information-communication is stable since October 2023, above its average level. In particular, the balances of opinion on the past and expected activity and on the expected demand are well above their average.
At the same time, the business climate in administrative and support services has sharply deteriorated after being stable, at its average, for the last three months. The balance on the general business outlook and on the expected demand have diminished again and those on the activity have retreated. Nevertheless, the balance on the expected workforce size has rebounded slightly, but remains far from its average.
Finally, the business climate in accommodation and food services has fallen back sharply, following a marked increase in December. The indicator has thus moved below its long-term average. This deterioration can be explained by the sharp decline of the balances of opinion on the general and personal business outlook and on the expected demand. Those balances are below their average. Conversely, the balance of opinion on the expected workforce size has increased markedly.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Average* | Oct. 2023 | Nov. 2023 | Dec. 2023 | Jan. 2024 |
|---|---|---|---|---|---|
| Road freight transport (8%) | |||||
| Composite indicator | 100 | 92 | 87 | 91 | 94 |
| General outlook | -18 | -31 | -39 | -34 | -23 |
| Past activity | -6 | -28 | -36 | -33 | -19 |
| Expected activity | -7 | -15 | -32 | -21 | -17 |
| Expected demand | -9 | -31 | -31 | -19 | -21 |
| Past employment | -5 | -9 | -9 | -18 | -15 |
| Expected employment | -6 | -11 | -11 | -17 | -11 |
| Accommodation and food service activities (8%) | |||||
| Composite indicator | 100 | 99 | 97 | 104 | 96 |
| General outlook | -13 | -17 | -18 | -3 | -14 |
| Past activity | -7 | -14 | -19 | -12 | -2 |
| Expected activity | -7 | -9 | -15 | -4 | -20 |
| Expected demand | -9 | -11 | -12 | -5 | -23 |
| Past employment | -5 | -6 | 3 | -13 | -8 |
| Expected employment | -6 | -1 | -6 | -4 | 6 |
| Information and communication (29%) | |||||
| Composite indicator | 100 | 104 | 104 | 104 | 104 |
| General outlook | 0 | 1 | 3 | 3 | 3 |
| Past activity | 8 | 19 | 26 | 24 | 26 |
| Expected activity | 9 | 19 | 22 | 17 | 17 |
| Expected demand | 9 | 15 | 18 | 14 | 31 |
| Past employment | 6 | 7 | 3 | 0 | -1 |
| Expected employment | 10 | 11 | 4 | 9 | 4 |
| Real estate activities (10%) | |||||
| Composite indicator | 100 | 85 | 88 | 87 | 91 |
| General outlook | -4 | -16 | -12 | -13 | -11 |
| Past activity | 6 | -9 | -6 | -8 | -1 |
| Expected activity | 6 | -9 | -3 | -5 | 0 |
| Expected demand | 1 | -6 | -7 | -11 | -6 |
| Past employment | 3 | -3 | -2 | -4 | 0 |
| Expected employment | 3 | 1 | -5 | -3 | -3 |
| Professional, scientific and technical activities (25%) | |||||
| Composite indicator | 100 | 98 | 94 | 98 | 101 |
| General outlook | -8 | -9 | -11 | -9 | -4 |
| Past activity | -1 | -4 | -10 | -15 | -10 |
| Expected activity | -2 | -7 | -11 | -4 | -3 |
| Expected demand | -5 | -8 | -14 | -7 | -7 |
| Past employment | 1 | 0 | -6 | -5 | 0 |
| Expected employment | 1 | 1 | -3 | -1 | 4 |
| Administrative and support service activities (18%) | |||||
| Composite indicator | 100 | 100 | 100 | 100 | 96 |
| General outlook | -3 | -3 | -1 | -2 | -7 |
| Past activity | 5 | 1 | -2 | 0 | -2 |
| Expected activity | 5 | 4 | 4 | 6 | -3 |
| Expected demand | 3 | 1 | 5 | 4 | -2 |
| Past employment | 7 | -5 | -8 | -3 | -5 |
| Expected employment | 7 | 9 | 6 | -1 | 0 |
- 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 December 2023 is confirmed (after rounding).
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 28 December 2023 and 22 January 2024.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 22 February 2024 at 8:45 am.
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
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 28 December 2023 and 22 January 2024.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 22 February 2024 at 8:45 am.