26 September 2017

2017- n° 252

In September 2017, the business climate improves again in services Monthly survey of services - September 2017

According to business managers surveyed in September 2017, the business climate in services has improved for the fourth month in a row. The business climate composite indicator has increased by one point (108) and stands clearly above its average (100). It is at its highest level since June 2011.

Because of late businesses' answers that have been taken into account, the indicator in August has been revised upward by one point.

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

The balance on past activity has increased again. The balances on expected demand and activity remain high. The balance on general outlook, which relates the assessment of business leaders over their whole sector, is stable. These four balances are well above their long-term average.

The balances on past and expected selling prices have risen and have reached or exceeded their long-term average. They stand at a level unseen since spring 2012.

The balance on past employment is virtually stable, that on expected employment is steady overall and has increased for services except temporary work agencies. All balances on employment are above their average.

The balance on past investments is virtually stable and that on expected investments is unchanged. Both remain above their average.

The business climate indicator stands clearly above its long-term average in all sub-sectors. It has improved in accommodation and food services, in administrative and support services and more slightly in information and communication and in real estate activities. It is stable in professional, scientific and technical activities. It has weakened slightly in road transport.

In road transport, the business climate has decreased by one point (109). However, it stands well above its long-term average. The balances on expected demand, on general outlook and on past employment have gone down, while remaining above their long-term average. The balance on expected activity has increased slightly.

In accommodation and food services, the business climate has gained two points (109) mainly because of the increase in the balances on expected demand and on past activity. In contrast, the balances on expected activity and on expected employment have declined.

In information and communication, the business climate has gone up again (+1 point). At 106, it stands clearly above its long-term average. The balance on past activity has increased sharply. However, the balances on expected demand and on past employment have gone down.

After a clear decrease in August, the business climate has edged up by one point. The balances on activity, on expected employment and general outlook have increased. In contrast, the balances on expected demand and past employment have decreased. The last one has moved below its long-term average.

The business climate in professional, scientific and technical activities is steady at 107, well above its long-term average. The balance on expected activity has fallen back but remains above its long-term average. All the other balances are either up or stable.

In administrative and support service activities, the business climate indicator has gone up by two points and exceeds even more its average (107). All the balances are either up or virtually stable, above their average.