25 July 2017

2017- n° 191

In July 2017, the business climate increases slightly in services Monthly survey of services - July 2017

According to business managers surveyed in July 2017, the business climate in services has improved slightly: the composite indicator which measures it has gained one point. At 104, it stands above its long-term average (100).

The turning point indicator stays in the area indicating a favourable short-term economic situation.

The balance of opinion on past activity has gone down just below its long-term average. However, for the coming months, more business leaders than in June anticipate an increase in activity, for their

own firm as well as for their whole sector. The corresponding balances have gone up and stand above their long-term average.

The balances on past and expected operating balance have increased and stand slightly above their long-term average.

The balance on past employment has decreased, whereas that on expected employment is virtually stable. Both balances stand clearly above their long-term average.

The business climate indicator stands above its long-term average (100) in all services sub-sectors. It is particularly favourable in road transport (110), real estate (108) and professional, scientific and technical activities (106). However, it stands just at its average in accommodation and food service activities and in information and communication.

In road transport, the business climate is stable (110), clearly above its long-term average. The balances on past activity and employment and on general outlook have gone up. The balance on expected activity has declined but remains clearly above its long-term average.

In accommodation and food service activities, the business climate has lost three points and has come back to its long-term average (100). The balance on past activity has fallen back clearly below its long-term average. The balances on past employment and general outlook have gone down too. However, the balance on expected activity, on the rise, remains above its long-term average.

In information and communication, the business climate has gained one point and has come back to its long-term average. The personal expectations on activity have improved markedly; the corresponding balance has returned just above its long term average. However, the balance on past activity has declined, deviating further from its long-term average. The balances on employment are almost unchanged, above their long-term average.

In real estate, the business climate has gained three points. At 108, it stands clearly above its long-term average. The balances on activity and general outlook have increased and stand even more above their long-term average.

In professional, scientific and technical activities, the business climate has gained one point (106). The balance on expected activity has increased, returning above its long term average. The balances on employment have declined but remain above their long-term average.

In administrative and support service activities, the business climate has decreased by two points (to 103) but remains above its long term average. The balances on past activity and demand have gone down; that on expected activity has returned below its mean.

The balance on past employment has edged down, while remaining far above its long-term average; that on expected employment has bounced back.