Informations Rapides · 21 April 2022 · n° 103
In April 2022, the French business climate and the employment climate have worsened a little Business indicator - April 2022

In April 2022, the business climate has deteriorated a little. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors of activity, has lost one point. At 106, though, it remains above its long-term average (100). This weakening in the business climate results mainly from the deterioration of the climate in retail trade.

Informations rapides

N^o 103

Paru le :Paru le21/04/2022

Prochaine parution le : 20/09/2024 at 08:45 - September 2024

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In April 2022, the business climate in France has deteriorated slightly
The employment climate has worsened a little but remains favourable
Revisions
For further information

In April 2022, the business climate in France has deteriorated slightly

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Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2022-04	105.9
2022-03	106.8
2022-02	112.7
2022-01	107.4
2021-12	109.0
2021-11	113.3
2021-10	112.3
2021-09	110.3
2021-08	109.8
2021-07	111.9
2021-06	113.4
2021-05	109.1
2021-04	95.5
2021-03	97.4
2021-02	90.8
2021-01	93.3
2020-12	92.2
2020-11	78.1
2020-10	89.8
2020-09	93.1
2020-08	93.5
2020-07	90.0
2020-06	83.6
2020-05	59.4
2020-04	47.7
2020-03	93.8
2020-02	105.5
2020-01	105.7
2019-12	105.8
2019-11	106.0
2019-10	105.9
2019-09	106.0
2019-08	105.3
2019-07	105.4
2019-06	105.9
2019-05	106.2
2019-04	106.2
2019-03	105.5
2019-02	104.2
2019-01	103.7
2018-12	103.1
2018-11	106.3
2018-10	105.8
2018-09	106.8
2018-08	107.4
2018-07	107.9
2018-06	108.4
2018-05	108.7
2018-04	110.4
2018-03	111.1
2018-02	111.2
2018-01	112.2
2017-12	112.6
2017-11	111.5
2017-10	110.4
2017-09	110.5
2017-08	110.3
2017-07	109.6
2017-06	108.5
2017-05	107.4
2017-04	107.0
2017-03	106.5
2017-02	106.7
2017-01	106.0
2016-12	106.0
2016-11	103.6
2016-10	103.8
2016-09	103.5
2016-08	103.4
2016-07	103.7
2016-06	102.8
2016-05	104.1
2016-04	102.2
2016-03	102.7
2016-02	102.8
2016-01	103.8
2015-12	101.4
2015-11	102.6
2015-10	102.7
2015-09	101.9
2015-08	102.5
2015-07	100.9
2015-06	100.4
2015-05	99.1
2015-04	98.1
2015-03	96.8
2015-02	95.7
2015-01	94.7
2014-12	93.9
2014-11	93.7
2014-10	91.9
2014-09	91.9
2014-08	92.9
2014-07	94.3
2014-06	94.9
2014-05	95.6
2014-04	96.1
2014-03	96.1
2014-02	95.0
2014-01	95.4
2013-12	94.2
2013-11	94.6
2013-10	95.3
2013-09	95.4
2013-08	91.9
2013-07	88.6
2013-06	86.9
2013-05	85.7
2013-04	84.6
2013-03	86.1
2013-02	88.1
2013-01	88.1
2012-12	88.6
2012-11	88.0
2012-10	86.8
2012-09	88.4
2012-08	89.9
2012-07	90.9
2012-06	92.1
2012-05	93.2
2012-04	97.4
2012-03	95.8
2012-02	93.4
2012-01	93.5
2011-12	94.9
2011-11	95.8
2011-10	97.8
2011-09	98.8
2011-08	101.5
2011-07	106.3
2011-06	107.6
2011-05	107.9
2011-04	108.5
2011-03	109.2
2011-02	108.7
2011-01	107.5
2010-12	106.5
2010-11	104.9
2010-10	104.1
2010-09	102.3
2010-08	100.3
2010-07	98.3
2010-06	96.4
2010-05	96.8
2010-04	95.5
2010-03	91.8
2010-02	92.4
2010-01	91.8
2009-12	90.2
2009-11	90.0
2009-10	88.3
2009-09	85.6
2009-08	82.9
2009-07	79.7
2009-06	77.8
2009-05	74.4
2009-04	71.8
2009-03	70.0
2009-02	74.1
2009-01	75.6
2008-12	77.4
2008-11	80.1
2008-10	84.0
2008-09	92.9
2008-08	95.4
2008-07	96.9
2008-06	100.3
2008-05	103.4
2008-04	106.1
2008-03	108.1
2008-02	108.2
2008-01	109.3
2007-12	109.9
2007-11	110.1
2007-10	109.6
2007-09	111.0
2007-08	111.6
2007-07	112.5
2007-06	113.4
2007-05	112.4
2007-04	112.3
2007-03	111.7
2007-02	111.3
2007-01	109.6
2006-12	109.5
2006-11	111.0
2006-10	109.4
2006-09	109.3
2006-08	108.7
2006-07	108.2
2006-06	106.2
2006-05	106.5
2006-04	104.7
2006-03	104.2
2006-02	103.8
2006-01	106.2
2005-12	104.8
2005-11	103.3
2005-10	103.8
2005-09	100.9
2005-08	101.5
2005-07	101.6
2005-06	101.8
2005-05	100.9
2005-04	103.3
2005-03	104.2
2005-02	104.1
2005-01	103.8

graphiqueFrench business climate composite indicator

Indeed, in retail trade, the business climate has deteriorated sharply for the second month in a row. The expectations of business managers from this sector concerning their activity outlook are heading downwards again.

Besides, in services, the business climate remains stable. It has brightened a little in manufacturing, held up by the balances of opinion on domestic as well as foreign order books. In building construction, the composite indicator of the business climate has improved, but in part because of the increase in the balance related to expected prices, while the general business outlook is judged less favourable compared to March and companies are more numerous to declare supplying difficulties.

tableauBusiness and employment climates

Business and employment climates
	Dec. 21	Jan. 22	Feb. 22	Mar. 22	Apr. 22
Business climates
France	109	107	113	107	106
Manufacturing	110	113	112	107	108
Building construction	115	113	114	114	116
Services	107	105	112	109	109
Retail trade	107	105	107	99	93
Wholesale trade		115		105

Employment	110	111	113	113	112

Source: INSEE, Business tendency surveys

The employment climate has worsened a little but remains favourable

The employment climate has deteriorated slightly in April 2022. The indicator has lost one point and stands at 112, well above its long-term average (100). This dip is mainly the result of the decrease in the balances of opinion regarding past and expected change in workforce in services, excluding temporary work agencies.

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2022-04	111.7
2022-03	113.2
2022-02	113.4
2022-01	110.7
2021-12	109.7
2021-11	112.3
2021-10	110.2
2021-09	105.6
2021-08	107.6
2021-07	107.3
2021-06	104.5
2021-05	100.4
2021-04	92.8
2021-03	93.0
2021-02	86.3
2021-01	88.5
2020-12	86.7
2020-11	85.3
2020-10	89.5
2020-09	92.6
2020-08	88.0
2020-07	76.6
2020-06	67.8
2020-05	55.9
2020-04	52.3
2020-03	97.5
2020-02	105.3
2020-01	105.2
2019-12	106.3
2019-11	106.1
2019-10	105.3
2019-09	106.1
2019-08	105.3
2019-07	106.2
2019-06	106.6
2019-05	105.7
2019-04	107.6
2019-03	107.9
2019-02	107.3
2019-01	105.3
2018-12	104.8
2018-11	105.0
2018-10	106.9
2018-09	107.3
2018-08	107.6
2018-07	108.4
2018-06	110.1
2018-05	109.4
2018-04	109.2
2018-03	110.2
2018-02	110.1
2018-01	109.4
2017-12	108.8
2017-11	108.1
2017-10	108.2
2017-09	106.8
2017-08	105.9
2017-07	107.7
2017-06	107.9
2017-05	107.4
2017-04	106.4
2017-03	107.6
2017-02	104.9
2017-01	105.3
2016-12	106.5
2016-11	104.8
2016-10	104.7
2016-09	104.4
2016-08	103.4
2016-07	103.9
2016-06	101.8
2016-05	102.4
2016-04	100.9
2016-03	100.0
2016-02	100.9
2016-01	102.1
2015-12	100.8
2015-11	101.9
2015-10	100.6
2015-09	100.4
2015-08	100.6
2015-07	99.9
2015-06	99.4
2015-05	97.7
2015-04	97.7
2015-03	95.8
2015-02	96.2
2015-01	94.1
2014-12	94.8
2014-11	94.8
2014-10	94.8
2014-09	95.0
2014-08	94.8
2014-07	96.2
2014-06	95.6
2014-05	97.3
2014-04	98.2
2014-03	95.7
2014-02	95.0
2014-01	95.7
2013-12	95.6
2013-11	93.6
2013-10	95.1
2013-09	92.8
2013-08	91.1
2013-07	90.8
2013-06	89.5
2013-05	87.1
2013-04	87.5
2013-03	88.7
2013-02	89.6
2013-01	92.8
2012-12	90.2
2012-11	90.5
2012-10	92.0
2012-09	91.4
2012-08	93.8
2012-07	93.1
2012-06	94.3
2012-05	95.7
2012-04	98.0
2012-03	99.3
2012-02	97.7
2012-01	98.2
2011-12	99.3
2011-11	100.9
2011-10	101.0
2011-09	103.7
2011-08	105.7
2011-07	109.7
2011-06	111.4
2011-05	111.1
2011-04	109.7
2011-03	109.5
2011-02	110.1
2011-01	104.5
2010-12	105.5
2010-11	104.9
2010-10	103.7
2010-09	101.2
2010-08	99.4
2010-07	99.1
2010-06	98.7
2010-05	97.5
2010-04	95.5
2010-03	93.4
2010-02	90.9
2010-01	90.3
2009-12	88.9
2009-11	86.7
2009-10	84.5
2009-09	82.5
2009-08	83.1
2009-07	78.4
2009-06	74.9
2009-05	73.6
2009-04	74.5
2009-03	73.9
2009-02	79.4
2009-01	81.1
2008-12	83.3
2008-11	88.3
2008-10	95.4
2008-09	99.7
2008-08	101.0
2008-07	105.2
2008-06	104.9
2008-05	108.2
2008-04	112.5
2008-03	112.3
2008-02	113.8
2008-01	113.7
2007-12	114.4
2007-11	112.9
2007-10	111.4
2007-09	112.9
2007-08	112.2
2007-07	110.9
2007-06	112.7
2007-05	113.1
2007-04	111.6
2007-03	111.0
2007-02	111.1
2007-01	109.3
2006-12	110.8
2006-11	110.2
2006-10	108.7
2006-09	107.9
2006-08	108.9
2006-07	109.6
2006-06	109.7
2006-05	107.9
2006-04	106.8
2006-03	104.6
2006-02	104.1
2006-01	103.9
2005-12	103.1
2005-11	103.7
2005-10	103.8
2005-09	103.5
2005-08	103.1
2005-07	102.5
2005-06	102.0
2005-05	102.4
2005-04	101.7
2005-03	104.2
2005-02	101.7
2005-01	101.9

graphiqueFrench employment climate composite indicator

Revisions

The business climate in manufacturing of March 2022 has been revised upwards by one point. This revision is mainly explained by the inclusion of late responses from companies. The other business climate indicators are unchanged.

For further information

The business climate indicator summarises the information provided by the surveys in manufacturing, services, trade (retail and wholesale) and building construction. It is built from 30 balances of opinion from these surveys. The employment indicator is based on the 10 balances of employment, past and expected, from the surveys in manufacturing, services, retail trade and building construction.

The balances of opinion concerning employment in services that are used in the employment climate distinguish the services excluding temporary work employment sector from temporary work agencies. For the latter, the balances on past and expected workforce size are not weighted, unlike the other sectors.

Finally, since the definitive data of April 2020, the way of correcting non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. Results are now computed on the sole basis of responding units.

The responses to these surveys were collected between 28 March and 15 April 2022.

Next issue: 24 May 2022 at 08:45 am.