21 June 2018

2018- n° 159

In June 2018, the business climate is stable in services Monthly survey of services - June 2018

According to business managers surveyed in June 2018, the business climate in services is stable. At 104, the business climate composite indicator stands above its long-term average (100).

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

In June 2018, the turning point indicator has returned into the area indicating a favourable short-term economic situation.

The balances on past and expected activity have recovered. The balance of opinion on expected demand has picked up too. However, the optimism of business managers on the general outlook over their sector has weakened. All of these balances stand above their long-term average.

The balance on past employment has clearly grown in June whereas it had decreased and reached its average since April. That on expected employment has sharply dipped but remains however above its average.

The balances of opinion on past and expected investments have weakened but remain above their long-term average.

The business climate composite indicator has improved in virtually all sub-sectors, except in administrative and support service activities. It remains well above its long-term average in road tranport, accommodation and food service activities, professional, scientific and technical activities and in administrative and support service activities.

In road transport, the business climate indicator has gained two points. At 112, it is clearly above its average level. The balances on activity have climbed. That on expected demand has strongly grown. The other balances have fallen back. All balances are above their average.

After a sharp decline in the previous month, the climate in accommodation and food services has gained one point. At 109, it remains well above its average. The balances on activity have recovered. Regarding employment, the balance on past employment has clearly increased but that on expected employment has strongly fallen back.

In information and communication, the business climate has gained one point (101). The balances on activity and on expected demand have picked up but remain below their average level. The balances on employment and on general outlook have slightly decreased.

In real estate activities, the climate has gained one point (89) but stands significantly below its average level. The balances on expected activity and on general outlook have declined and so, remain deteriorated. However, the balances of opinion on past activity and expected demand have improved again.

The business climate in professional, scientific and technical activities has gained three points (108) and stands well above its long-term average. All the balances of opinion remain above their average and only the balance on expected employment has slightly slipped back.

In administrative and support service activities, the climate has faltered for the third month in a row. At 107, it remains nevertheless well above its average. The balances on expected activity, on expected demand, on general outlook and on expected employment have declined. However, all balances stand above their average.