25 July 2014
2014- n° 175In the third quarter 2014, the economic climate worsens in public works Quaterly survey of public works - July 2014
According to the business managers surveyed in July 2014, activity in public works deteriorate considerably in the second quarter.
According to the business managers surveyed in July 2014, activity in public works deteriorate considerably in the second quarter.
In July 2014, the judgment about past activity slumps
The balances of opinion on past and expected activity have plummeted. They stay well below their long-term average and reach their lowest level since 2009.
Far more business managers than in April consider their order books lower than normal for this period of the year.
Few obstacles to production
Obstacles to production remain at a very low level: only 4 % of businesses indicate being hampered because of a workforce shortage.
More business managers than in April anticipate a fall in their staff size
In July 2014, sharply more business managers than in April anticipate a fall in their staff size for the next quarter. The corresponding balance of opinion falls well below its long-term average.
tableautableau1 – Public works economic outlook
| Mean* | July 13 | Oct. 13 | Jan. 14 | April 14 | |
|---|---|---|---|---|---|
| Past activity | –6 | –5 | 6 | 2 | –7 |
| - of which public-sector project | –11 | –20 | –1 | –2 | –19 |
| - of which private-sector project | –11 | –15 | –1 | –6 | –9 |
| Expected activity | –14 | –11 | –16 | –27 | –29 |
| - of which public-sector project | –17 | –20 | –19 | –29 | –40 |
| - of which private-sector project | –17 | –10 | –14 | –18 | –22 |
| Opinion on order books | –25 | –18 | –17 | –23 | –37 |
| Obstacles to production increase because of workforce shortage (in %) | 15 | 5 | 7 | 6 | 5 |
| Expected workforce | –15 | –15 | –14 | –15 | –32 |
- Note: the balances of opinion by costumer may differ from the balance of the whole, because sometimes the firms don’t distinguish public-sector project and private-sector project.
- * Mean since January 1981
- Sources: FNTP and INSEE
graphiqueActivity – Activity tendency in public works
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