25 March 2015
2015- n° 71In March 2015, the economic climate remains unfavorable in the building construction
industry Monthly survey of building - March 2015
According to the business managers surveyed in March 2015, the business climate remains deteriorated in the building construction industry. The composite indicator is stable, below its long-term average (100). The turning point indicator has gone into the neutral zone.
According to the business managers surveyed in March 2015, the business climate remains deteriorated in the building construction industry. The composite indicator is stable, below its long-term average (100). The turning point indicator has gone into the neutral zone.
Business managers' opinion about activity remains deteriorated
In March 2015, business managers stay pessimistic about their activity. As many business managers as in February declare a fall in their activity on the recent period and for the next few months. The two corresponding balances are far below their long-term average.
graphiqueActivity – Activity tendency in the building industry
Gloomy employment situation
Business managers remain pessimistic about employment: even if slightly fewer business managers than in January indicate a fall in their staff size. The corresponding balances remain substantially below their long-term average.
graphiqueWorkforce – Workforce size tendency in the building industry
graphiqueClimate – Composite indicator
graphiqueTurningPoint – Turning-point indicator
- Lecture: close to 1 (respectively -1), it indicates a favorable climate (respectively unfavorable).
tableauTableau1 – Building industry economic outlook
| Mean* | Dec. 14 | Jan. 15 | Feb. 15 | March 15 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 89 | 88 | 89 | 89 |
| Past activity | –4 | –21 | –21 | –30 | –30 |
| Expected activity | –6 | –27 | –35 | –26 | –25 |
| Gen. business outlook | –19 | –50 | |||
| Past employment | –4 | –26 | –30 | –24 | –25 |
| Expected employment | –4 | –25 | –30 | –26 | –24 |
| Opinion on order books | –22 | –58 | –57 | –58 | –58 |
| Order books (in month) | 5,3 | 6,3 | 6,0 | 6,2 | 6,4 |
| Productive capacity utilisation rate | 88,7 | 84,2 | 84,0 | 83,6 | 83,9 |
| Obstacles to production increase (in %) | 33 | 21 | 20 | 19 | 21 |
| - Because of workforce shortage (in %) | 14,8 | 3,1 | 2,8 | 3,0 | 3,0 |
| Recruiting problems (in %) | 58 | 38 | |||
| Expected prices | –14 | –38 | –35 | –36 | –34 |
| Cash-flow position | –10 | –27 | |||
| Repayment period | 29 | 49 |
- * Mean since September 1993.
- Source: French business survey in the building industry - INSEE
Order books are still considered lower than normal
Business managers’ opinion about their order books remains deteriorated. The corresponding balance has fluctuated little around the same low level since October 2014.
graphiqueOrderBooks – Order books
Productive capacity still largely underused
In March 2015, the productive capacity utilisation rate is virtually stable, after a sharp decline since early 2014. At the same time, one business manager out of five has reported difficulties to increase its output, against one out of three in average since 1993.
graphiquePcur – Productive capacity utilisation rate
Prices remain very tight
In March, slightly fewer business managers than in February indicate price falls for the next few months. However, the corresponding balance is substantially below its long-term average.
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