25 November 2014
2014- n° 268In November 2014, the economic climate has improved slightly in the building construction
industry Monthly survey of building - November 2014
According to the business managers surveyed in November 2014, the situation has improved in the building construction industry. The composite indicator has stopped its decline started in May 2014. Compared to October, it has increased by four points after reaching its lowest level since 1996. However, it stays below its long-term average. The turning-point indicator is in the neutral zone.
According to the business managers surveyed in November 2014, the situation has improved in the building construction industry. The composite indicator has stopped its decline started in May 2014. Compared to October, it has increased by four points after reaching its lowest level since 1996. However, it stays below its long-term average. The turning-point indicator is in the neutral zone.
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* | Aug. 14 | Sept. 14 | Oct. 14 | Nov. 14 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 89 | 88 | 86 | 90 |
| Past activity | –3 | –28 | –35 | –33 | –21 |
| Expected activity | –6 | –29 | –30 | –34 | –24 |
| Gen. business outlook | –19 | –46 | |||
| Past employment | –4 | –27 | –30 | –32 | –25 |
| Expected employment | –3 | –28 | –28 | –26 | –24 |
| Opinion on order books | –21 | –52 | –53 | –59 | –58 |
| Order books (in month) | 5,3 | 6,6 | 6,5 | 6,5 | 6,4 |
| Productive capacity utilisation rate | 88,8 | 85,4 | 85,0 | 84,6 | 84,5 |
| Obstacles to production increase (in %) | 33 | 20 | 19 | 17 | 22 |
| - Because of workforce shortage (in %) | 15,0 | 4,1 | 3,8 | 3,3 | 3,5 |
| Recruiting problems (in %) | 59 | 41 | |||
| Expected prices | –14 | –34 | –34 | –35 | –35 |
| Cash-flow position | –9 | –25 | |||
| Repayment period | 29 | 44 |
- * Mean since September 1993.
- Source: French business survey in the building industry - Insee
Fewer business manager than in October indicate a fall in their activity
In November 2014, fewer business managers than in October have deemed that their activity has deteriorated in the recent period (balance of opinion of –21 after –33) and will decrease for the next few months (balance of opinion of –24 after –34). However, the corresponding balances remain significantly below their long-term average.
graphiqueActivity – Activity tendency in the building industry
Business manager a little less pessimistic about employment
Fewer business managers than in October have pointed out a fall in past (balance of opinion of –25) and expected employment (balance of opinion of –24) but the corresponding balances stay substantially below their long-term average.
graphiqueWorkforce – Workforce size tendency in the building industry
Order books are considered lower than normal
In November, business managers have still considered their order books lower than normal.
graphiqueOrderBooks – Order books
Still underused productive capacity
The productive capacity utilization rate is almost stable and stays below its long-term average. Slightly more business managers than in October have declared having difficulties increasing their activity. However, theses obstacles have concerned just a little more than one business manager out of five, against one out of three in average since 1993.
graphiquePcur – Productive capacity utilization rate
Tight prices
In November, as many business managers as in October indicate price downturns. The corresponding balance of opinion is clearly below its long-term average.
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