25 March 2015
2015- n° 68In March 2015, the business climate has improved in the wholesale trade Bi-monthly survey of wholesaling - March 2015
According to the managers surveyed in March 2015, the business climate in the wholesale trade sector has improved. The corresponding composite indicator has increased by two points since January 2015, but remained slightly below its long-term average.
- Total wholesale trade
- A less grim past activity
- More optimistic general outlook
- Statu quo of the opinion about expected employment
- Prices rising but still very low
- Raw agricultural products and live animals
- Food products and beverages
- Household goods
- Capital goods in information and communication
- Other industrial capital goods
- Other specialised wholesale trade
Total wholesale trade
According to the managers surveyed in March 2015, the business climate in the wholesale trade sector has improved. The corresponding composite indicator has increased by two points since January 2015, but remained slightly below its long-term average.
The turning-point indicator has stayed in the favourable area.
graphiquegraph_indclimaff_en – Composite indicator
graphiquegraph_indretournf_en – Turning-point indicator
A less grim past activity
Fewer wholesalers than in January have declared a fall in their past sales, mainly in export sales: that balance has gone over its long term average. Fewer of them have indicated a decline in their received merchandises too.
More optimistic general outlook
The general outlook balance has progressed for the fourth survey in a row and gone over its mean level. As many business leaders as in January expect a drop in their orders, in France or abroad: each of the three balances concerning ordering intentions, ordering from abroad and shipments abroad is practically stable and remained close to its average.
Statu quo of the opinion about expected employment
More wholesalers than on the last survey have declared a fall in their past workforce. Conversily, the expected workforce balance has been steady for four surveys.
Prices rising but still very low
Each of both balances concerning past and expected prices has significantly progressed but has remained still sharply under its average.
tableautab_cgens_en – Total wholesale trade
| MOY* | Sept. 14 | Nov. 14 | Jan. 15 | March 15 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 91 | 96 | 95 | 98 |
| General outlook | –25 | –45 | –36 | –30 | –21 |
| Sales | –14 | –30 | –25 | –26 | –22 |
| export sales | –15 | –26 | –17 | –22 | –12 |
| Received merchandise | –9 | –22 | –15 | –20 | –17 |
| received from abroad | –10 | –15 | –12 | –14 | –12 |
| Ordering intentions | –15 | –23 | –19 | –16 | –16 |
| ordering from abroad | –15 | –20 | –17 | –16 | –15 |
| Shipments abroad | –16 | –19 | –21 | –17 | –14 |
| Current stock | 8 | 6 | 5 | 5 | 6 |
| Past workforce | –1 | –9 | –7 | –8 | –11 |
| Expected workforce | –3 | –5 | –6 | –6 | –6 |
| Cash position | –10 | –7 | –7 | –8 | –8 |
| Past selling prices | 8 | –22 | –20 | –13 | –9 |
| Expecting selling prices | 16 | –10 | –10 | –8 | 0 |
- * : average since September 1979
- Source : French business survey in the wholesale trade - Insee
Raw agricultural products and live animals
According to the wholesalers of this sector, past sales have declined and ordering intentions have been steady. Each of both balances stands over its long term average. Balances concerning foreign trade stay at a high level in spite of the decline of export sales.
Food products and beverages
Past activity has been deteriorated in this sector: each of the three balances concerning past sales, in France or abroad, and merchandises received from abroad, is significantly under its average. However, the ordering intentions have remained close to their long term average.
Household goods
According to the managers of the household good sector, past sales to France and abrod have increased, each of the two balances reaching or going over its average. The ordering intentions balance has dipped but remains over its mean level. Stocks have been estimated a little higher than their standard level.
Capital goods in information and communication
In the capital goods in information and communication sector, recent sales and ordering intentions are on a more favourable trend, each of the two balances being over its average from now on. The export sales balance stands just under its mean level.
Other industrial capital goods
Wholesalers in industrial capital goods have remained pessimistic about their past sales and ordering intentions. They are more optimistic concerning export sales.
Other specialised wholesale trade
In this sector, the past sales balance has remained low for one year. However, foreign activity has improved, especially export sales. Ordering intentions have stayed grim.
graphiquegraph_sect_en – Past activity (sales) in capital goods
tableautab_cgsect_en – Wholesale trade sectors
| MOY* | Sept. 14 | Nov. 14 | Jan. 15 | March 15 | |
|---|---|---|---|---|---|
| Raw agricultural products and live animals | |||||
| Sales | –11 | –19 | –6 | –1 | –8 |
| Export sales | –15 | –14 | –3 | 14 | –1 |
| Merchandise received from abroad | –8 | –14 | –12 | 4 | 9 |
| Ordering intentions | –12 | –18 | –8 | –7 | –7 |
| Current stock | 5 | 11 | 7 | 3 | –2 |
| Food products and beverages | |||||
| Sales | –15 | –27 | –16 | –24 | –25 |
| Export sales | –12 | –32 | –24 | –31 | –28 |
| Merchandise received from abroad | –13 | –24 | –4 | –17 | –22 |
| Ordering intentions | –11 | –14 | –18 | –12 | –10 |
| Current stock | 5 | 5 | 3 | –1 | 1 |
| Household goods | |||||
| Sales | –10 | –19 | –21 | –22 | –10 |
| Export sales | –12 | –9 | –17 | –22 | –4 |
| Merchandise received from abroad | –6 | –8 | –4 | –8 | –11 |
| Ordering intentions | –14 | –20 | –12 | –8 | –11 |
| Current stock | 12 | 7 | 6 | 6 | 14 |
| Capital goods in information and communication | |||||
| Sales | –9 | –23 | –10 | –13 | –4 |
| Export sales | –13 | –3 | –13 | –29 | –14 |
| Merchandise received from abroad | –7 | –8 | –9 | –9 | –11 |
| Ordering intentions | –10 | –27 | –13 | –10 | –3 |
| Current stock | 8 | –1 | –3 | 4 | 5 |
| Other industrial capital goods | |||||
| Sales | –16 | –43 | –39 | –34 | –36 |
| Export sales | –21 | –38 | –25 | –33 | –17 |
| Merchandise received from abroad | –11 | –22 | –17 | –13 | –22 |
| Ordering intentions | –22 | –35 | –28 | –35 | –35 |
| Current stock | 12 | 4 | 14 | 14 | 10 |
| Other specialized wholesale trade | |||||
| Sales | –18 | –40 | –42 | –41 | –36 |
| Export sales | –19 | –39 | –14 | –25 | –9 |
| Merchandise received from abroad | –13 | –12 | –22 | –25 | –12 |
| Ordering intentions | –19 | –28 | –26 | –22 | –23 |
| Current stock | 6 | 8 | 3 | –1 | 4 |
- * : average since September 1979
- Source: French business survey in the wholesale trade - Insee
Pour en savoir plus
Time series : Wholesale trade
