Informations Rapides · 23 January 2025 · n° 13

In January 2025, the business climate in wholesale trade has diminished again Bimonthly survey of wholesaling - January 2025

According to the business managers surveyed in January 2025, the bimonthly business climate in wholesale trade has diminished again. At 91, the composite indicator has lost two points and remains, for the thirteenth two-month period in a row, below its long-term average (100). It reaches its lowest level since September 2014 (excluding the Covid period). This deterioration reflects, in particular, the decrease in the balances of opinion on the merchandise received from abroad and the past sales.

In January 2025, the balance of opinion of wholesalers regarding the merchandise received from abroad has diminished again strongly and has moved away from its long-term average. This strong decrease can be seen particularly in the sub-sector of the wholesale trade of food products and beverages and in “other specialised wholesale trade”.

The balance on the ordering intentions has sharply recovered and has moved closer to its long-term average. The balance on the past sales has diminished again and has moved away from its average, the one on the past export sales has diminished even more sharply and has moved away from its own. In the sub-sector of the wholesale trade of raw agricultural products and live animals this balance has diminished quite clearly and has reached a level unobserved for more than 20 years. Finally, the one on the general business outlook has diminished again slightly and has moved away from its own.

In January 2025, the balance of opinion of wholesalers on the past selling prices has rebounded and has moved closer to its long-term average. The one on the expected selling prices has retreated a little and has moved away from its own.

The balance of opinion on the expected change in the workforce size has retreated and has moved away from its average: it has returned to its lowest level since July 2013 (excluding the Covid period), already reached in September 2024. As for the one on the past evolution, it is almost stable, below its average.

The balance of opinion on the level of inventories has increased again slightly and has moved closer to its average. It has increased in the sub-sectors of wholesale trade of raw agricultural products and live animals, of domestic goods, of information and communication equipment and in other industrial capital goods.

Finally, the balance related to the cash position is almost stable, quite close to its long-term average.

The business climate in wholesale trade in November 2024 has not been revised (after rounding).