Informations Rapides · 21 March 2024 · n° 68

In March 2024, the business climate has sharply improved in wholesale trade Bimonthly survey of wholesaling - March 2024

According to the business managers surveyed in March 2024, the bimonthly business climate in wholesale trade has sharply improved. The composite indicator has gained four points compared to January 2024 and stands at 95. It remains yet well below its long-term average (100). This improvement reflects in particular the increase of the balances of opinion concerning the received merchandise from abroad and the ordering intentions, even if all the balances of opinion contributing to the climate have improved.

In March 2024, the balance of opinion of wholesalers regarding their ordering intentions has increased again, after having reached in November 2023 its lowest level since November 2020. At the sub-sector level, it has improved mostly in the wholesale trade of raw agricultural products and live animals, in the one of household goods, and in the one of information and communication equipment.

The balance on the general business outlook has increased sharply and has moved closer to its long-term average. The balance on the volume of past sales is virtually stable and remains below its own, while the one related to the past sales abroad has been increasing for three two-month periods and has moved above its own.

Finally, the balance related to the received merchandise from abroad has sharply rebounded and has moved closer to its long-term average. The one on the received merchandise, whatever their origin, has slightly diminished again for its part and has moved away from its own.

In March 2024, the balances of opinion on the past and expected changes in the selling prices of wholesalers have decreased sharply and have moved away from their long-term average.

The balance of opinion on the expected change in the workforce size has increased and has moved back above its long-term average. The one on the past change in the workforce size has decreased for its part and has moved away from its own.

The balance of opinion on the level of inventories has diminished again, sharply, and has moved below its average. It has decreased mostly in the wholesale trade of raw agricultural products and live animals, in the one of household goods, and in “other specialised wholesale trade”.

Finally, the balance related to the cash position is stable, just below its long-term average.

The business climate in wholesale trade in January 2024 has been revised upwards by one point (after rounding). This revision is mainly due to the inclusion of late responses from companies.