Informations Rapides ·
24 May 2024 · n° 128
In May 2024, the business climate in services is a little more favourable Monthly survey of services - May 2024
According to the business managers surveyed in May 2024, the business climate in services has slightly improved compared to April. At 101, the indicator that synthesizes it has gained one point and stands just above its long-term average (100).
According to the business managers surveyed in May 2024, the business climate in services has slightly improved compared to April. At 101, the indicator that synthesizes it has gained one point and stands just above its long-term average (100).
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2024-05 | 101.2 |
| 2024-04 | 100.1 |
| 2024-03 | 102.9 |
| 2024-02 | 99.7 |
| 2024-01 | 101.4 |
| 2023-12 | 100.1 |
| 2023-11 | 99.4 |
| 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 | 111.7 |
| 2022-01 | 105.1 |
| 2021-12 | 107.2 |
| 2021-11 | 113.5 |
| 2021-10 | 112.5 |
| 2021-09 | 110.2 |
| 2021-08 | 108.7 |
| 2021-07 | 110.9 |
| 2021-06 | 112.4 |
| 2021-05 | 106.5 |
| 2021-04 | 91.4 |
| 2021-03 | 93.8 |
| 2021-02 | 87.5 |
| 2021-01 | 91.0 |
| 2020-12 | 89.2 |
| 2020-11 | 75.7 |
| 2020-10 | 87.2 |
| 2020-09 | 93.7 |
| 2020-08 | 93.5 |
| 2020-07 | 88.5 |
| 2020-06 | 77.5 |
| 2020-05 | 49.6 |
| 2020-04 | 38.6 |
| 2020-03 | 92.3 |
| 2020-02 | 105.7 |
| 2020-01 | 106.0 |
| 2019-12 | 106.4 |
| 2019-11 | 105.8 |
| 2019-10 | 105.2 |
| 2019-09 | 105.7 |
| 2019-08 | 105.1 |
| 2019-07 | 104.8 |
| 2019-06 | 105.6 |
| 2019-05 | 105.5 |
| 2019-04 | 105.6 |
| 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 | 104.4 |
| 2018-06 | 104.4 |
| 2018-05 | 104.3 |
| 2018-04 | 105.9 |
| 2018-03 | 106.9 |
| 2018-02 | 106.8 |
| 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 | 98.2 |
| 2016-03 | 99.4 |
| 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 | 95.3 |
| 2015-04 | 93.9 |
| 2015-03 | 92.3 |
| 2015-02 | 91.4 |
| 2015-01 | 91.1 |
| 2014-12 | 91.3 |
| 2014-11 | 91.2 |
| 2014-10 | 91.1 |
| 2014-09 | 91.0 |
| 2014-08 | 91.5 |
| 2014-07 | 92.4 |
| 2014-06 | 92.2 |
| 2014-05 | 92.2 |
| 2014-04 | 93.2 |
| 2014-03 | 93.0 |
| 2014-02 | 92.1 |
| 2014-01 | 92.2 |
| 2013-12 | 90.8 |
| 2013-11 | 92.3 |
| 2013-10 | 91.7 |
| 2013-09 | 92.3 |
| 2013-08 | 88.6 |
| 2013-07 | 86.6 |
| 2013-06 | 85.9 |
| 2013-05 | 84.6 |
| 2013-04 | 83.2 |
| 2013-03 | 84.1 |
| 2013-02 | 87.1 |
| 2013-01 | 88.2 |
| 2012-12 | 87.1 |
| 2012-11 | 85.5 |
| 2012-10 | 86.1 |
| 2012-09 | 87.2 |
| 2012-08 | 87.4 |
| 2012-07 | 89.6 |
| 2012-06 | 90.0 |
| 2012-05 | 92.0 |
| 2012-04 | 95.6 |
| 2012-03 | 93.3 |
| 2012-02 | 91.9 |
| 2012-01 | 92.5 |
| 2011-12 | 94.5 |
| 2011-11 | 95.1 |
| 2011-10 | 97.2 |
| 2011-09 | 98.3 |
| 2011-08 | 100.5 |
| 2011-07 | 105.1 |
| 2011-06 | 107.1 |
| 2011-05 | 107.4 |
| 2011-04 | 108.9 |
| 2011-03 | 110.3 |
| 2011-02 | 109.1 |
| 2011-01 | 107.1 |
| 2010-12 | 106.8 |
| 2010-11 | 104.7 |
| 2010-10 | 102.8 |
| 2010-09 | 101.6 |
| 2010-08 | 100.6 |
| 2010-07 | 99.1 |
| 2010-06 | 98.2 |
| 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 | 92.1 |
| 2009-10 | 90.6 |
| 2009-09 | 87.5 |
| 2009-08 | 84.1 |
| 2009-07 | 81.6 |
| 2009-06 | 77.8 |
| 2009-05 | 73.2 |
| 2009-04 | 69.0 |
| 2009-03 | 68.6 |
| 2009-02 | 73.7 |
| 2009-01 | 74.9 |
| 2008-12 | 77.5 |
| 2008-11 | 80.4 |
| 2008-10 | 84.4 |
| 2008-09 | 93.1 |
| 2008-08 | 95.1 |
| 2008-07 | 96.6 |
| 2008-06 | 100.9 |
| 2008-05 | 104.2 |
| 2008-04 | 106.7 |
| 2008-03 | 108.4 |
| 2008-02 | 108.5 |
| 2008-01 | 110.3 |
| 2007-12 | 108.9 |
| 2007-11 | 110.1 |
| 2007-10 | 110.0 |
| 2007-09 | 111.4 |
| 2007-08 | 112.2 |
| 2007-07 | 113.1 |
| 2007-06 | 112.6 |
| 2007-05 | 112.8 |
| 2007-04 | 112.9 |
| 2007-03 | 113.2 |
| 2007-02 | 112.3 |
| 2007-01 | 110.8 |
| 2006-12 | 111.2 |
| 2006-11 | 113.0 |
| 2006-10 | 110.7 |
| 2006-09 | 110.6 |
| 2006-08 | 110.4 |
| 2006-07 | 110.3 |
| 2006-06 | 109.1 |
| 2006-05 | 110.4 |
| 2006-04 | 107.7 |
| 2006-03 | 107.4 |
| 2006-02 | 106.2 |
| 2006-01 | 108.9 |
| 2005-12 | 106.9 |
| 2005-11 | 106.5 |
| 2005-10 | 108.3 |
| 2005-09 | 106.8 |
| 2005-08 | 107.2 |
| 2005-07 | 107.5 |
| 2005-06 | 108.2 |
| 2005-05 | 106.1 |
| 2005-04 | 107.9 |
| 2005-03 | 108.2 |
| 2005-02 | 106.3 |
| 2005-01 | 106.4 |
graphiqueBusiness climate composite indicator
- Source: INSEE
Business managers are at the same time more upbeat concerning their past activity and a little more optimistic about their business prospects
In May 2024, 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 sharply rebounded and has moved back above its long-term average. The one on the general business outlook for the sector has, for its part, slightly improved. The balance of opinion related to the activity over the past three months has also rebounded and has moved above its average level. At the same time, the balance on the economic uncertainty felt has slightly risen and stands just above its average.
Concerning the selling prices, the balances related to their recent and expected change have diminished and have moved closer to their long-term average.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2024-05 | 2.7 |
| 2024-04 | 5.8 |
| 2024-03 | 8.7 |
| 2024-02 | 8.0 |
| 2024-01 | 6.2 |
| 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 May 2024, the balances of opinion on the change in the workforce size, past as well as expected, have slightly deteriorated and remain below their average. Nevertheless, the one on the expected workforce size excluding temporary work agencies has increased and has moved away from its own.
tableauEconomic outlook in the services sector
| Average* | Feb. 2024 | Mar. 2024 | Apr. 2024 | May 2024 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 100 | 103 | 100 | 101 |
| General outlook | -7 | -7 | -5 | -6 | -5 |
| Past activity | 2 | 2 | 2 | -1 | 3 |
| Expected activity | 2 | 0 | 5 | -2 | 3 |
| Expected demand | 0 | -1 | 5 | 2 | 1 |
| Past selling prices | -3 | 3 | 3 | 7 | 6 |
| Expected selling prices | -2 | 8 | 9 | 6 | 3 |
| Past employment | 2 | -6 | -1 | 1 | 0 |
| Past employment except temporary work agencies | 0 | -3 | 0 | 2 | 1 |
| Expected employment | 2 | 0 | -7 | -1 | -2 |
| Expected employment except temporary work agencies | 0 | 2 | -1 | 0 | 2 |
| Economic uncertainty felt** | 12 | 9 | 10 | 11 | 13 |
- * 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 accommodation and food services, the business climate has sharply brightened again
In May 2024, the business climate in accommodation and food services has sharply improved and has reached its highest level since April 2023. In particular, the forward-looking balances of opinion on the demand, the personal activity and the activity of the sector have sharply improved and stand well above their respective average. Conversely, the one on the past activity has sharply diminished.
In information-communication, the business climate indicator has brightened as well. The balances on the past and expected activity have sharply rebounded and stand well above their long-term average. The balance on the expected workforce size has improved as well.
In professional, scientific and technical activities, the business climate indicator has rebounded and has returned to its average level. This improvement is mainly due to the rise of the forward-looking balances of opinion on the activity in the sector, the demand, the personal activity and the workforce size.
In road freight transport, the business climate is stable, just below its average level. In particular, the balance of opinion on the general business outlook remains stable.
In real estate activities, the business climate indicator has fallen back whereas it stood just below its average in the previous month. In particular, the balances of opinion on the workforce size, past as well as expected, have sharply diminished. Conversely, those on the expected demand and activity have sharply improved.
Finally, in administrative and support services the business climate has deteriorated and has moved away from its average level. The forward-looking balances of opinion on the activity, demand and the workforce size have sharply decreased, in particular in temporary work agencies.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Average* | Feb. 2024 | Mar. 2024 | Apr. 2024 | May 2024 |
|---|---|---|---|---|---|
| Road transport (8%) | |||||
| Composite indicator | 100 | 95 | 97 | 99 | 99 |
| General outlook | -18 | -28 | -26 | -26 | -26 |
| Past activity | -6 | -23 | -16 | -10 | -6 |
| Expected activity | -7 | -10 | -12 | -11 | -4 |
| Expected demand | -9 | -18 | -12 | -6 | -14 |
| Past employment | -5 | -20 | -13 | -6 | -9 |
| Expected employment | -6 | -11 | -5 | -10 | -8 |
| Accommodation and food service activities (8%) | |||||
| Composite indicator | 100 | 100 | 100 | 104 | 110 |
| General outlook | -13 | -9 | -10 | -5 | 4 |
| Past activity | -7 | -7 | 11 | 17 | -1 |
| Expected activity | -7 | -15 | -12 | -8 | 1 |
| Expected demand | -9 | -12 | -14 | -6 | 10 |
| Past employment | -5 | 3 | 7 | 10 | 9 |
| Expected employment | -6 | -3 | -12 | -3 | 0 |
| Information and communication (29%) | |||||
| Composite indicator | 100 | 103 | 109 | 102 | 105 |
| General outlook | 0 | 4 | 7 | 3 | 3 |
| Past activity | 8 | 12 | 6 | -4 | 16 |
| Expected activity | 9 | 13 | 35 | 8 | 21 |
| Expected demand | 10 | 17 | 32 | 20 | 18 |
| Past employment | 6 | -2 | 5 | 3 | 4 |
| Expected employment | 10 | 7 | 17 | 9 | 12 |
| Real estate activities (10%) | |||||
| Composite indicator | 100 | 91 | 97 | 99 | 97 |
| General outlook | -4 | -11 | -6 | -3 | -3 |
| Past activity | 6 | 1 | 4 | 4 | 2 |
| Expected activity | 6 | -2 | -1 | -2 | 5 |
| Expected demand | 1 | -8 | 5 | 1 | 5 |
| Past employment | 3 | -3 | -4 | 2 | -7 |
| Expected employment | 3 | 1 | -2 | 3 | -4 |
| Professional, scientific and technical activities (25%) | |||||
| Composite indicator | 100 | 99 | 101 | 97 | 100 |
| General outlook | -8 | -7 | -5 | -12 | -6 |
| Past activity | -1 | -8 | -6 | -5 | -5 |
| Expected activity | -2 | -5 | -1 | -8 | -4 |
| Expected demand | -5 | -7 | -6 | -9 | -7 |
| Past employment | 1 | -6 | -1 | 0 | -1 |
| Expected employment | 1 | 2 | 1 | 0 | 2 |
| Administrative and support service activities (18%) | |||||
| Composite indicator | 100 | 96 | 96 | 97 | 94 |
| General outlook | -3 | -3 | 0 | -2 | -3 |
| Past activity | 5 | -1 | 4 | 1 | 1 |
| Expected activity | 5 | -5 | -3 | -1 | -5 |
| Expected demand | 3 | -3 | -4 | -4 | -8 |
| Past employment | 7 | -11 | -4 | -8 | -7 |
| Expected employment | 7 | 7 | -17 | 3 | -10 |
- 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 April 2024 is not revised (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 29 April and 21 May 2024.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 June 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 29 April and 21 May 2024.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 June 2024 at 8:45 am.