24 August 2017

2017- n° 220

In August 2017, the business climate weakens but remains favourable in retail trade and in trade and repair of motor vehicles Monthly survey of retailing - August 2017

According to the managers in retail trade and in trade and repair of motor vehicles, the business climate has weakened but remains favourable in August 2017. The composite indicator that measures it has lost four points compared to July and stands at 108. However, it stays significantly above its long-term average (100), that it has reached or exceeded since February 2015.

Fewer managers than in July have declared a rise in their recent sales. However, the corresponding balance of opinion remains above its average. Anticipations have declined too: the balances concerning expected sales, ordering intentions and general business outlook have decreased, slightly for the first two ones, more significantly for the third. Nevertheless, each of them remains above its average.

Stocks have been estimated somewhat higher, with a balance of opinion above its average this month.

Slightly more traders than in July have expected rises in prices on the next few months; the balance has gone above its mean level.

The balance of opinion concerning past employment is stable at its average. The one about expected employment, slightly on the rise, remains close to its mean level. In retail trade, these movements have been practically the same. In motor car trade and repair, the balance on past employment is roughly stable, but the one on expected employment has fallen back; however both remain high.

In retail trade, the business climate remains favourable: the composite indicator that measures it is stable at 104, above its average (100).

Yet, in non-specialised retail trade, the balances concerning recent sales, expected sales and ordering intentions have significantly slipped back. The first one has almost returned to its average, the two others have gone below.

Conversely, in specialised trade, these three balances have increased. The one about past sales has come back to its mean level, those on expected sales and ordering intentions have reached their highest point since the beginning of 2008.

In the whole retail trade, stocks have been estimated a little higher, at their standard level from now on.

The balance about expected prices has slightly increased and stands now above its average.

In trade and repair of motor vehicles and motor cycles, the business climate indicator remains very favourable; even if it has lost two points, at 113, it stays significantly above its average (100).

The balance concerning recent sales is unchanged. Those on general outlook and expected sales have been practically stable. The one about ordering intentions has slightly fallen. However, each of the four balances stand significantly above its mean level.

Stocks have been still estimated higher than normal.

The balance concerning expected prices, slightly rising, has gone just above its average.