Informations Rapides ·
24 May 2022 · n° 134
In May 2022, the business climate has improved slightly in services Monthly survey of services - May 2022
According to the business managers surveyed in May 2022, the business climate has improved slightly in services. At 109, the business climate indicator that synthesizes it has gained one point and remains above its long-term average (100).
According to the business managers surveyed in May 2022, the business climate has improved slightly in services. At 109, the business climate indicator that synthesizes it has gained one point and remains above its long-term average (100).
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2022-05 | 108.8 |
| 2022-04 | 108.3 |
| 2022-03 | 108.6 |
| 2022-02 | 112.0 |
| 2022-01 | 105.5 |
| 2021-12 | 107.2 |
| 2021-11 | 113.8 |
| 2021-10 | 112.7 |
| 2021-09 | 109.8 |
| 2021-08 | 108.4 |
| 2021-07 | 110.7 |
| 2021-06 | 111.6 |
| 2021-05 | 106.2 |
| 2021-04 | 91.4 |
| 2021-03 | 93.6 |
| 2021-02 | 88.3 |
| 2021-01 | 91.2 |
| 2020-12 | 89.8 |
| 2020-11 | 77.8 |
| 2020-10 | 88.6 |
| 2020-09 | 94.2 |
| 2020-08 | 93.4 |
| 2020-07 | 88.6 |
| 2020-06 | 77.8 |
| 2020-05 | 51.4 |
| 2020-04 | 41.4 |
| 2020-03 | 92.8 |
| 2020-02 | 105.9 |
| 2020-01 | 106.0 |
| 2019-12 | 106.4 |
| 2019-11 | 106.1 |
| 2019-10 | 105.6 |
| 2019-09 | 105.5 |
| 2019-08 | 104.9 |
| 2019-07 | 105.0 |
| 2019-06 | 105.6 |
| 2019-05 | 105.4 |
| 2019-04 | 105.4 |
| 2019-03 | 104.6 |
| 2019-02 | 103.6 |
| 2019-01 | 103.5 |
| 2018-12 | 102.0 |
| 2018-11 | 103.6 |
| 2018-10 | 103.2 |
| 2018-09 | 104.3 |
| 2018-08 | 103.9 |
| 2018-07 | 104.3 |
| 2018-06 | 104.4 |
| 2018-05 | 104.0 |
| 2018-04 | 105.7 |
| 2018-03 | 106.6 |
| 2018-02 | 106.5 |
| 2018-01 | 107.4 |
| 2017-12 | 108.4 |
| 2017-11 | 107.2 |
| 2017-10 | 106.6 |
| 2017-09 | 106.3 |
| 2017-08 | 105.9 |
| 2017-07 | 103.8 |
| 2017-06 | 103.3 |
| 2017-05 | 102.5 |
| 2017-04 | 103.1 |
| 2017-03 | 103.2 |
| 2017-02 | 102.8 |
| 2017-01 | 101.6 |
| 2016-12 | 103.4 |
| 2016-11 | 100.8 |
| 2016-10 | 100.7 |
| 2016-09 | 100.8 |
| 2016-08 | 100.2 |
| 2016-07 | 100.4 |
| 2016-06 | 99.2 |
| 2016-05 | 100.7 |
| 2016-04 | 98.5 |
| 2016-03 | 99.6 |
| 2016-02 | 100.0 |
| 2016-01 | 100.1 |
| 2015-12 | 97.2 |
| 2015-11 | 99.4 |
| 2015-10 | 99.6 |
| 2015-09 | 97.7 |
| 2015-08 | 98.7 |
| 2015-07 | 97.6 |
| 2015-06 | 97.0 |
| 2015-05 | 95.6 |
| 2015-04 | 94.2 |
| 2015-03 | 92.6 |
| 2015-02 | 91.8 |
| 2015-01 | 91.5 |
| 2014-12 | 91.7 |
| 2014-11 | 91.6 |
| 2014-10 | 91.7 |
| 2014-09 | 91.4 |
| 2014-08 | 92.0 |
| 2014-07 | 92.9 |
| 2014-06 | 92.6 |
| 2014-05 | 92.5 |
| 2014-04 | 93.6 |
| 2014-03 | 93.3 |
| 2014-02 | 92.4 |
| 2014-01 | 92.6 |
| 2013-12 | 91.3 |
| 2013-11 | 92.7 |
| 2013-10 | 92.0 |
| 2013-09 | 92.6 |
| 2013-08 | 89.0 |
| 2013-07 | 87.1 |
| 2013-06 | 86.7 |
| 2013-05 | 85.4 |
| 2013-04 | 84.1 |
| 2013-03 | 84.9 |
| 2013-02 | 87.7 |
| 2013-01 | 88.8 |
| 2012-12 | 87.8 |
| 2012-11 | 86.2 |
| 2012-10 | 86.9 |
| 2012-09 | 88.0 |
| 2012-08 | 88.2 |
| 2012-07 | 90.3 |
| 2012-06 | 90.6 |
| 2012-05 | 92.6 |
| 2012-04 | 96.1 |
| 2012-03 | 94.1 |
| 2012-02 | 92.8 |
| 2012-01 | 93.4 |
| 2011-12 | 95.3 |
| 2011-11 | 95.6 |
| 2011-10 | 97.7 |
| 2011-09 | 98.8 |
| 2011-08 | 100.9 |
| 2011-07 | 105.1 |
| 2011-06 | 107.2 |
| 2011-05 | 107.6 |
| 2011-04 | 109.0 |
| 2011-03 | 110.3 |
| 2011-02 | 109.1 |
| 2011-01 | 107.0 |
| 2010-12 | 106.7 |
| 2010-11 | 104.7 |
| 2010-10 | 102.9 |
| 2010-09 | 101.7 |
| 2010-08 | 100.7 |
| 2010-07 | 99.2 |
| 2010-06 | 98.4 |
| 2010-05 | 99.3 |
| 2010-04 | 97.7 |
| 2010-03 | 94.7 |
| 2010-02 | 94.4 |
| 2010-01 | 94.3 |
| 2009-12 | 92.9 |
| 2009-11 | 92.3 |
| 2009-10 | 91.0 |
| 2009-09 | 87.9 |
| 2009-08 | 84.8 |
| 2009-07 | 82.3 |
| 2009-06 | 78.7 |
| 2009-05 | 74.2 |
| 2009-04 | 70.3 |
| 2009-03 | 70.2 |
| 2009-02 | 75.2 |
| 2009-01 | 76.4 |
| 2008-12 | 78.9 |
| 2008-11 | 81.9 |
| 2008-10 | 85.8 |
| 2008-09 | 94.1 |
| 2008-08 | 96.0 |
| 2008-07 | 97.5 |
| 2008-06 | 101.7 |
| 2008-05 | 104.7 |
| 2008-04 | 107.1 |
| 2008-03 | 108.6 |
| 2008-02 | 108.5 |
| 2008-01 | 110.3 |
| 2007-12 | 109.0 |
| 2007-11 | 110.1 |
| 2007-10 | 109.9 |
| 2007-09 | 111.2 |
| 2007-08 | 112.0 |
| 2007-07 | 112.8 |
| 2007-06 | 112.3 |
| 2007-05 | 112.6 |
| 2007-04 | 112.7 |
| 2007-03 | 113.0 |
| 2007-02 | 112.0 |
| 2007-01 | 110.6 |
| 2006-12 | 111.2 |
| 2006-11 | 112.8 |
| 2006-10 | 110.6 |
| 2006-09 | 110.4 |
| 2006-08 | 110.2 |
| 2006-07 | 110.1 |
| 2006-06 | 109.0 |
| 2006-05 | 110.3 |
| 2006-04 | 107.8 |
| 2006-03 | 107.5 |
| 2006-02 | 106.2 |
| 2006-01 | 108.5 |
| 2005-12 | 106.7 |
| 2005-11 | 106.3 |
| 2005-10 | 108.4 |
| 2005-09 | 106.9 |
| 2005-08 | 107.3 |
| 2005-07 | 107.6 |
| 2005-06 | 108.3 |
| 2005-05 | 106.0 |
| 2005-04 | 107.9 |
| 2005-03 | 108.2 |
| 2005-02 | 106.2 |
| 2005-01 | 106.5 |
graphiqueBusiness climate composite indicator
- Source: INSEE
The general business outlook is slightly more favourable
In May 2022, the business managers are very slightly more optimistic than in the previous month about the general business outlook for the sector. The balance of opinion on expected demand has increased slightly, as well as the one on past activity. The one about expected activity has barely decreased. These four balances remain above their respective average. At the same time, the balance on economic uncertainty felt is stable.
The balance of opinion on the recent change in selling prices has continued to increase and has reached a level not seen since 1990. The one on the expected change in selling prices has edged down a bit but remains at a high level.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2022-05 | 10.0 |
| 2022-04 | 12.1 |
| 2022-03 | 7.3 |
| 2022-02 | 9.0 |
| 2022-01 | 8.0 |
| 2021-12 | 5.5 |
| 2021-11 | 6.6 |
| 2021-10 | 2.9 |
| 2021-09 | 1.8 |
| 2021-08 | 4.0 |
| 2021-07 | 5.2 |
| 2021-06 | 0.8 |
| 2021-05 | -0.6 |
| 2021-04 | -8.1 |
| 2021-03 | -8.0 |
| 2021-02 | -10.9 |
| 2021-01 | -9.4 |
| 2020-12 | -8.1 |
| 2020-11 | -12.7 |
| 2020-10 | -10.3 |
| 2020-09 | -4.8 |
| 2020-08 | -5.4 |
| 2020-07 | -7.0 |
| 2020-06 | -12.3 |
| 2020-05 | -22.6 |
| 2020-04 | -22.6 |
| 2020-03 | -3.7 |
| 2020-02 | 0.7 |
| 2020-01 | 0.3 |
| 2019-12 | 0.1 |
| 2019-11 | -0.2 |
| 2019-10 | 0.7 |
| 2019-09 | -2.2 |
| 2019-08 | -0.9 |
| 2019-07 | 1.7 |
| 2019-06 | 0.4 |
| 2019-05 | -1.9 |
| 2019-04 | -2.1 |
| 2019-03 | -1.3 |
| 2019-02 | -2.5 |
| 2019-01 | -2.2 |
| 2018-12 | -0.2 |
| 2018-11 | -2.4 |
| 2018-10 | -3.6 |
| 2018-09 | -2.8 |
| 2018-08 | -0.3 |
| 2018-07 | -5.3 |
| 2018-06 | -4.6 |
| 2018-05 | -2.3 |
| 2018-04 | -2.7 |
| 2018-03 | -3.5 |
| 2018-02 | -3.9 |
| 2018-01 | -2.5 |
| 2017-12 | -3.7 |
| 2017-11 | -2.6 |
| 2017-10 | -2.8 |
| 2017-09 | -2.8 |
| 2017-08 | -5.2 |
| 2017-07 | -5.7 |
| 2017-06 | -4.0 |
| 2017-05 | -5.3 |
| 2017-04 | -5.1 |
| 2017-03 | -3.8 |
| 2017-02 | -3.9 |
| 2017-01 | -6.5 |
| 2016-12 | -5.5 |
| 2016-11 | -7.7 |
| 2016-10 | -6.8 |
| 2016-09 | -4.8 |
| 2016-08 | -5.2 |
| 2016-07 | -4.7 |
| 2016-06 | -6.8 |
| 2016-05 | -6.2 |
| 2016-04 | -4.9 |
| 2016-03 | -5.1 |
| 2016-02 | -4.6 |
| 2016-01 | -8.5 |
| 2015-12 | -8.8 |
| 2015-11 | -5.8 |
| 2015-10 | -5.9 |
| 2015-09 | -7.5 |
| 2015-08 | -6.4 |
| 2015-07 | -6.9 |
| 2015-06 | -6.1 |
| 2015-05 | -6.2 |
| 2015-04 | -7.8 |
| 2015-03 | -9.8 |
| 2015-02 | -9.7 |
| 2015-01 | -11.4 |
| 2014-12 | -11.0 |
| 2014-11 | -10.3 |
| 2014-10 | -9.5 |
| 2014-09 | -10.6 |
| 2014-08 | -9.0 |
| 2014-07 | -9.2 |
| 2014-06 | -9.3 |
| 2014-05 | -9.9 |
| 2014-04 | -9.6 |
| 2014-03 | -10.8 |
| 2014-02 | -11.0 |
| 2014-01 | -8.4 |
| 2013-12 | -9.4 |
| 2013-11 | -8.4 |
| 2013-10 | -10.1 |
| 2013-09 | -10.4 |
| 2013-08 | -10.7 |
| 2013-07 | -12.3 |
| 2013-06 | -12.0 |
| 2013-05 | -12.2 |
| 2013-04 | -12.2 |
| 2013-03 | -12.0 |
| 2013-02 | -11.9 |
| 2013-01 | -9.8 |
| 2012-12 | -9.2 |
| 2012-11 | -9.5 |
| 2012-10 | -11.0 |
| 2012-09 | -7.6 |
| 2012-08 | -7.8 |
| 2012-07 | -4.3 |
| 2012-06 | -6.0 |
| 2012-05 | -5.6 |
| 2012-04 | -4.2 |
| 2012-03 | -0.7 |
| 2012-02 | -3.4 |
| 2012-01 | 0.5 |
| 2011-12 | -2.3 |
| 2011-11 | -4.3 |
| 2011-10 | -3.0 |
| 2011-09 | -1.6 |
| 2011-08 | -1.5 |
| 2011-07 | -0.3 |
| 2011-06 | 0.5 |
| 2011-05 | 5.1 |
| 2011-04 | 2.4 |
| 2011-03 | 3.5 |
| 2011-02 | 3.3 |
| 2011-01 | -0.1 |
| 2010-12 | 0.0 |
| 2010-11 | -1.1 |
| 2010-10 | -0.9 |
| 2010-09 | -3.1 |
| 2010-08 | -3.8 |
| 2010-07 | -7.7 |
| 2010-06 | -5.4 |
| 2010-05 | -5.7 |
| 2010-04 | -7.8 |
| 2010-03 | -7.5 |
| 2010-02 | -9.0 |
| 2010-01 | -8.5 |
| 2009-12 | -10.1 |
| 2009-11 | -10.1 |
| 2009-10 | -9.4 |
| 2009-09 | -12.4 |
| 2009-08 | -14.4 |
| 2009-07 | -18.5 |
| 2009-06 | -15.4 |
| 2009-05 | -17.8 |
| 2009-04 | -17.7 |
| 2009-03 | -17.1 |
| 2009-02 | -13.1 |
| 2009-01 | -13.1 |
| 2008-12 | -13.8 |
| 2008-11 | -9.6 |
| 2008-10 | -2.7 |
| 2008-09 | 0.3 |
| 2008-08 | 1.5 |
| 2008-07 | 3.4 |
| 2008-06 | 3.3 |
| 2008-05 | 3.4 |
| 2008-04 | 3.9 |
| 2008-03 | 2.6 |
| 2008-02 | 2.1 |
| 2008-01 | 2.2 |
| 2007-12 | 3.0 |
| 2007-11 | 2.8 |
| 2007-10 | 1.3 |
| 2007-09 | 2.3 |
| 2007-08 | 3.2 |
| 2007-07 | 3.4 |
| 2007-06 | 2.1 |
| 2007-05 | 2.9 |
| 2007-04 | 2.2 |
| 2007-03 | 1.5 |
| 2007-02 | 1.1 |
| 2007-01 | 1.8 |
graphiqueExpected prices in services
- Source: INSEE
Concerning employment, the balance of opinion on the change in the workforce size over the last three months has decreased, mainly due to temporary work agencies, and remains below its average level. The one on the expected workforce size has also decreased but remains above its average.
tableauEconomic outlook in the services sector
| Average* | Feb. 2022 | Mar. 2022 | Apr. 2022 | May 2022 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 112 | 109 | 108 | 109 |
| General outlook | -7 | 9 | 4 | 4 | 5 |
| Past activity | 2 | 9 | 8 | 8 | 9 |
| Expected activity | 1 | 11 | 7 | 8 | 7 |
| Expected demand | -1 | 13 | 8 | 5 | 7 |
| Past selling prices | -4 | 5 | 5 | 8 | 10 |
| Expected selling prices | -3 | 9 | 7 | 12 | 10 |
| Past employment | 2 | 11 | 6 | 0 | -2 |
| except temporary work agencies | 0 | 4 | 4 | 0 | 4 |
| Expected employment | 2 | 9 | 11 | 10 | 8 |
| except temporary work agencies | -1 | 11 | 11 | 9 | 6 |
| Economic uncertainty felt** | 13 | 7 | 9 | 8 | 8 |
- * Average since 1989 for the composite indicator and since 1988 for the balances of opinion, except general outlook (June 2000) and uncertainty (April 2021)
- ** Balance of opinion not seasonally adjusted
- Source: INSEE, monthly business survey in services.
The business climate has improved again in accommodation and food services
In May 2022, in accommodation and food services, the business climate indicator has improved and has reached a very high level. In particular, the balances of opinion on recent activity, past employment and the general business outlook have increased very sharply. The balance on expected activity is stable.
In professional, scientific and technical activities, the business climate has improved sharply, the indicator has reached in May a level well above its average. In particular, the forward looking balances on activity have increased sharply.
In real estate activities and administrative and support services, the climate indicator is stable, above its average level.
In information-communication, the business climate indicator has decreased slightly but remains above its average.
Finally, in road freight transport, the business climate has deteriorated again. In particular, the balance of opinion on expected activity has decreased very sharply and has returned below its average.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Mean* | Feb. 2022 | Mar. 2022 | Apr. 2022 | May 2022 |
|---|---|---|---|---|---|
| Road transport (8 %) | |||||
| Composite indicator | 100 | 111 | 103 | 106 | 103 |
| Past activity | -5 | 17 | 5 | 7 | 6 |
| Expected activity | -6 | 8 | -10 | 3 | -9 |
| Expected demand | -8 | 8 | -4 | -1 | -6 |
| Past employment | -5 | 9 | 0 | -9 | -2 |
| Expected employment | -7 | 4 | 2 | 3 | 0 |
| General outlook | -18 | 3 | -13 | -11 | -11 |
| Accommodation and food service activities (11 %) | |||||
| Composite indicator | 100 | 111 | 119 | 119 | 121 |
| Past activity | -8 | -6 | -3 | 3 | 30 |
| Expected activity | -8 | 5 | 16 | 6 | 6 |
| Expected demand | -9 | 13 | 25 | 22 | 15 |
| Past employment | -5 | 2 | 3 | -2 | 10 |
| Expected employment | -6 | 7 | 15 | 15 | 9 |
| General outlook | -14 | 3 | 17 | 21 | 29 |
| Information and communication (26 %) | |||||
| Composite indicator | 100 | 110 | 108 | 107 | 106 |
| Past activity | 7 | 6 | 12 | 10 | 11 |
| Expected activity | 9 | 17 | 15 | 16 | 14 |
| Expected demand | 9 | 25 | 18 | 6 | 8 |
| Past employment | 6 | 13 | 16 | 15 | 12 |
| Expected employment | 10 | 20 | 17 | 21 | 15 |
| General outlook | 0 | 13 | 9 | 10 | 8 |
| Real estate activities (11 %) | |||||
| Composite indicator | 100 | 109 | 106 | 106 | 106 |
| Past activity | 7 | 11 | 13 | 9 | 7 |
| Expected activity | 6 | 9 | 6 | 8 | 13 |
| Expected demand | 2 | 5 | 5 | 6 | 9 |
| Past employment | 3 | 9 | 3 | 6 | 5 |
| Expected employment | 3 | 8 | 8 | 8 | 8 |
| General outlook | -4 | 1 | 1 | 0 | 2 |
| Professional, scientific and technical activities (24 %) | |||||
| Composite indicator | 100 | 112 | 105 | 105 | 109 |
| Past activity | -1 | 6 | 6 | 7 | 5 |
| Expected activity | -2 | 8 | 0 | 0 | 5 |
| Expected demand | -5 | 6 | -5 | -6 | 2 |
| Past employment | 1 | 3 | 7 | 2 | 2 |
| Expected employment | 0 | 15 | 7 | 7 | 9 |
| General outlook | -8 | 8 | 3 | -1 | 6 |
| Administrative and support service activities (18 %) | |||||
| Composite indicator | 100 | 113 | 107 | 107 | 107 |
| Past activity | 5 | 19 | 12 | 13 | 5 |
| Expected activity | 5 | 17 | 10 | 11 | 9 |
| Expected demand | 3 | 19 | 10 | 11 | 16 |
| Past employment | 8 | 28 | 8 | -6 | -15 |
| Expected employment | 7 | 5 | 14 | 5 | 7 |
| General outlook | -4 | 15 | 8 | 11 | 11 |
- The figures in parentheses indicate the weights used to aggregate the sub-sector balances of opinion.
- *Composite indicator: average since 1989 (2006 for road transport); balances of opinion: average since 1988, except general outlook since June 2000 (2006 for road transport)
- Source: INSEE, monthly business survey in services.
Revision
The business climate indicator in services of April 2022 has been revised downwards by one point. This revision is mainly due to the inclusion of late responses from businesses.
For further information
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the percentage of “increase” responses and the percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 27 April and 19 May 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 23 June 2022 at 8:45 am
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
Pour en savoir plus
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the percentage of “increase” responses and the percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 27 April and 19 May 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 23 June 2022 at 8:45 am