23 March 2017
2017- n° 79In March 2017, the French business climate falters a little but remains above its
long-term average Business climate indicator and turning point indicator - March 2017
In March 2017, the business climate falters a little without invalidating the ongoing positive trend since December 2016. The composite indicator, compiled from the answers of business managers in the main sectors, has lost one point but stands four points above its long-term average (100). It is stable or virtually stable in services, building construction and trade. In contrast, it has lost three points in manufacturing.
The French business climate indicator falters in March 2017
In March 2017, the business climate falters a little without invalidating the ongoing positive trend since December 2016. The composite indicator, compiled from the answers of business managers in the main sectors, has lost one point but stands four points above its long-term average (100). It is stable or virtually stable in services, building construction and trade. In contrast, it has lost three points in manufacturing.
graphiqueGraph1 – French business climate composite indicator
Revisions
Compared to its first estimate last month, the business climate indicator of February 2017 has been raised by one point in the whole economy, building construction, services and retail trade. Those revisions result from the integration of late businesses' answers. The wholesale trade climate indicator of January 2017 has also been raised by one point compared to its estimate of January.
tableauTable – Business climate and turning point indicators
| Nov. 16 | Dec. 16 | Jan. 17 | Feb. 17 | March 17 | |
|---|---|---|---|---|---|
| Composite indicators | |||||
| France | 102 | 105 | 104 | 105 | 104 |
| Manufacturing | 102 | 106 | 106 | 107 | 104 |
| Building construction | 99 | 98 | 99 | 100 | 99 |
| Services | 102 | 106 | 102 | 104 | 104 |
| Retail trade | 104 | 107 | 106 | 104 | 105 |
| Wholesale trade | 98 | - | 103 | - | 103 |
| Turning point indicators | |||||
| France | 0,3 | 0,6 | 0,4 | 0,8 | 0,1 |
| Manufacturing | 0,4 | 0,7 | 0,8 | 0,8 | –0,5 |
| Building construction | 0,3 | 0,4 | 0,7 | 0,7 | 0,9 |
| Services | –0,2 | 0,8 | 0,2 | 0,5 | 0,6 |
| Wholesale trade | 0,0 | - | 0,9 | - | 0,8 |
- Source: INSEE, Business tendency surveys
graphiqueGraph2 – Turning point indicator
- Close to +1 (resp. -1): favourable business climate (unfavourable), between +0.3 and -0.3: uncertainty area.
The turning point indicator for the French economy as a whole has gone into the area showing an uncertain short-term economic outlook.
Documentation
Methodology (pdf,125 Ko)
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