25 April 2017

2017- n° 105

In April 2017, the business climate declines slightly in services Monthly survey of services - April 2017

According to business managers surveyed in April 2017, the business climate in services has declined slightly. The composite indicator which measures it has decreased by one point and stands at 103, slightly above its long-term average (100).

The turning point indicator has returned to the uncertainty area.

In April 2017, the balance of opinion on past activity is virtually stable, above its long-term average. However, fewer business leaders than in March expect an increase in activity and demand for the coming months.

The balance on expected activity has fallen back below its long-term average, the balance on expected demand has returned to it. Nevertheless, the balance of opinion on the general outlook is still well above its long-term average.

The balance of opinion on the operating balance on the last three months has decreased markedly since January 2017 and has fallen back below its long-term average. The balance on expected operating result is virtually stable, slightly below its long-term average.

The balance on past employment is unchanged, whereas that on expected employment has gone down slightly. Both balances stand clearly above their long-term average.

Almost all sub-sector business climates have gone down. Only the climate in professional, scientific and technical activities is stable and the climate in accommodation and food service activities has recovered significantly.

In road transport, the business climate has decreased (105 after 108 in March) but remains above its long-term average. All balances have gone down but they remain above their long-term average.

In accommodation and food service activities, the business climate has increased by seven points (to 105), returning above its long-term average. In particular, the balances on general outlook and on expected activity and demand have improved significantly and returned above their long-term average.

In information and communication, the business climate has lost two points and has returned just below its mean (to 99). The balances on activity, demand and general outlook have declined. However, the balances on employment remain on a positive track.

In real estate, the business climate has lost four points (to 98), and has fallen back below its long-term average. The balances on expected activity and demand have gone down, falling back below their long-term average. However, the other balances are virtually stable.

In professional, scientific and technical activities, the business climate is stable (104), above its mean. The balance on past activity has improved, but the balance on expected activity has decreased. The other balances remain on a favourable track.

In administrative and support service activities, the business climate has declined slightly (108 after 110 in March) but remains clearly above its long-term average. The balances on expected activity, employment and demand have gone down, particularly in temporary work agencies, but remain above their mean. The balances on employment remain far above their long-term average.