24 May 2011

2011- n° 130
In May 2011, the economic climate in services is stable Monthly survey of services - May 2011

According to the business leaders surveyed in May, the economic situation in services remains stable. The business climate synthetic indicator goes down slightly by one point, after rising since July 2010. Nonetheless, it remains well above its long-term average. The turning point indicator stays in the favourable area.

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Activity slowed down in the last few months, and business leaders revise downwards their expectations for the months to come. They expect demand to be less favourable.

The general outlook remains unchanged compared with April, and above the long-term average.

graphiqueGraph1 – Business climate synthetic indicator

graphiquegraph_retourn – Turning point indicator

Note: close to 1 (respectively -1), this indicator indicates a favourable short-term economic situation (respectively unfavourable).

graphiqueGraph2 – Activity

tableauTable_quarter – 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*	Feb. 11	Mar. 11	Apr. 11	May 11
Business climate synthetic indicator	100	105	106	109	108
General outlook	–5	2	1	2	2
Past activity	4	13	13	10	5
Expected activity	4	8	12	13	11
Expected demand	2	11	14	11	7
Business situation	1	5	5	6	6
Past selling prices	–2	–3	0	3	3
Expected selling prices	–1	5	6	3	5
Past employment	3	14	12	17	12
except temporary work agencies	1	4	6	8	6
Expected employment	3	13	10	9	13
except temporary work agencies	0	7	5	4	7
Investments
Past investments	2	10	8	6	8
Expected investments	2	5	9	11	13

* Average of the balances of opinion since 1988
Source: Insee