27 October 2014
2014- n° 250In October 2014, the economic climate worsens in public works Quaterly survey of public works - October 2014
According to the business managers surveyed in October 2014, the economic climate has still deteriored sharply in public works.
According to the business managers surveyed in October 2014, the economic climate has still deteriored sharply in public works.
In October 2014, the judgment about 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 1984.
More business managers than in July 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 3 % of businesses indicate being hampered because of a workforce shortage.
Increased pessimism about expected workforce
In October 2014, more business managers than in July 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* | Jan. 14 | April 14 | July 14 | Oct. 14 | |
|---|---|---|---|---|---|
| Past activity | –7 | 2 | –7 | –43 | –58 |
| - of which public-sector project | –12 | –2 | –19 | –55 | –70 |
| - of which private-sector project | –11 | –6 | –9 | –30 | –39 |
| Expected activity | –14 | –27 | –29 | –47 | –54 |
| - of which public-sector project | –17 | –29 | –40 | –55 | –58 |
| - of which private-sector project | –17 | –18 | –22 | –36 | –41 |
| Opinion on order books | –25 | –23 | –37 | –56 | –63 |
| Obstacles to production increase because of workforce shortage (in %) | 15 | 6 | 5 | 4 | 3 |
| Expected workforce | –16 | –15 | –32 | –42 | –49 |
- 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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