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22 September 2022 · n° 247In September 2022, the French business climate has darkened Business indicator - September 2022
In September 2022, the French business climate has darkened again. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost two points. At 102, it nevertheless remains above its long-term average (100). All major sectors of activity have contributed to this degradation, excepted building construction.
In September 2022, the business climate in France has deteriorated
In September 2022, the French business climate has darkened again. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost two points. At 102, it nevertheless remains above its long-term average (100). All major sectors of activity have contributed to this degradation, excepted building construction.
tableauFrench business climate composite indicator
French business climate composite indicator | |
---|---|
2022-09 | 102.1 |
2022-08 | 103.5 |
2022-07 | 102.9 |
2022-06 | 104.0 |
2022-05 | 105.6 |
2022-04 | 105.5 |
2022-03 | 106.7 |
2022-02 | 112.6 |
2022-01 | 107.3 |
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 | 95.4 |
2021-03 | 97.3 |
2021-02 | 90.7 |
2021-01 | 93.2 |
2020-12 | 92.1 |
2020-11 | 77.9 |
2020-10 | 89.7 |
2020-09 | 93.0 |
2020-08 | 93.4 |
2020-07 | 89.9 |
2020-06 | 83.5 |
2020-05 | 59.2 |
2020-04 | 47.4 |
2020-03 | 93.7 |
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 | 105.4 |
2019-02 | 104.2 |
2019-01 | 103.7 |
2018-12 | 103.1 |
2018-11 | 106.2 |
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 | 111.3 |
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 | 102.7 |
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 | 100.8 |
2015-06 | 100.4 |
2015-05 | 99.1 |
2015-04 | 98.1 |
2015-03 | 96.7 |
2015-02 | 95.7 |
2015-01 | 94.6 |
2014-12 | 93.9 |
2014-11 | 93.7 |
2014-10 | 91.8 |
2014-09 | 91.8 |
2014-08 | 92.8 |
2014-07 | 94.3 |
2014-06 | 94.8 |
2014-05 | 95.5 |
2014-04 | 96.0 |
2014-03 | 96.0 |
2014-02 | 94.9 |
2014-01 | 95.3 |
2013-12 | 94.1 |
2013-11 | 94.6 |
2013-10 | 95.3 |
2013-09 | 95.4 |
2013-08 | 91.8 |
2013-07 | 88.5 |
2013-06 | 86.8 |
2013-05 | 85.6 |
2013-04 | 84.5 |
2013-03 | 86.0 |
2013-02 | 88.1 |
2013-01 | 88.0 |
2012-12 | 88.5 |
2012-11 | 87.9 |
2012-10 | 86.7 |
2012-09 | 88.3 |
2012-08 | 89.8 |
2012-07 | 90.8 |
2012-06 | 92.0 |
2012-05 | 93.2 |
2012-04 | 97.4 |
2012-03 | 95.8 |
2012-02 | 93.3 |
2012-01 | 93.4 |
2011-12 | 94.8 |
2011-11 | 95.7 |
2011-10 | 97.7 |
2011-09 | 98.7 |
2011-08 | 101.5 |
2011-07 | 106.2 |
2011-06 | 107.6 |
2011-05 | 107.9 |
2011-04 | 108.5 |
2011-03 | 109.2 |
2011-02 | 108.7 |
2011-01 | 107.4 |
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 | 96.3 |
2010-05 | 96.8 |
2010-04 | 95.5 |
2010-03 | 91.7 |
2010-02 | 92.3 |
2010-01 | 91.7 |
2009-12 | 90.1 |
2009-11 | 89.9 |
2009-10 | 88.3 |
2009-09 | 85.6 |
2009-08 | 82.8 |
2009-07 | 79.6 |
2009-06 | 77.6 |
2009-05 | 74.3 |
2009-04 | 71.6 |
2009-03 | 69.8 |
2009-02 | 73.9 |
2009-01 | 75.5 |
2008-12 | 77.2 |
2008-11 | 80.0 |
2008-10 | 83.9 |
2008-09 | 92.8 |
2008-08 | 95.3 |
2008-07 | 96.8 |
2008-06 | 100.3 |
2008-05 | 103.4 |
2008-04 | 106.0 |
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 | 112.6 |
2007-06 | 113.5 |
2007-05 | 112.5 |
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 | 100.8 |
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 | 103.7 |
graphiqueFrench business climate composite indicator
In wholesale trade, the bimonthly indicator of business climate has darkened sharply compared to July, due in particular to the decline in the balance of opinion concerning merchandise received from abroad.
In retail trade (including trade and repair of vehicles), the business climate has deteriorated again in September 2022, after an upturn in August. The business managers are more pessimistic regarding the business outlook for the sector.
In services, the business climate has deteriorated slightly, notably because of the weakening of the balance of opinion on activity over the last three months.
In manufacturing industry, the business climate has faltered again: the business managers of the sector are more pessimistic about their activity prospects and their order books.
Finally, in building construction, the business climate is virtually stable.
tableauBusiness and employment climates
May 22 | June 22 | Jul. 22 | Aug. 22 | Sept. 22 | |
---|---|---|---|---|---|
Business climates | |||||
France | 106 | 104 | 103 | 104 | 102 |
Manufacturing | 106 | 108 | 106 | 103 | 102 |
Building construction | 114 | 114 | 113 | 113 | 114 |
Services | 109 | 108 | 107 | 107 | 106 |
Retail trade | 98 | 95 | 96 | 99 | 96 |
Wholesale trade | 101 | 102 | 96 | ||
Employment | 110 | 107 | 109 | 107 | 109 |
- Source: INSEE, Business tendency surveys
The employment climate remains favourable
In September 2022, the employment climate has gained two points and stands at 109, thus remaining well above its long-term average (100). It has fluctuated between 107 and 110 since May. Its movement in September is mainly the result of the good standing in the balances of opinion regarding past and expected change in the workforce size in services (excluding temporary work agencies).
tableauFrench employment climate composite indicator
French employment climate composite indicator | |
---|---|
2022-09 | 109.0 |
2022-08 | 107.1 |
2022-07 | 109.0 |
2022-06 | 107.5 |
2022-05 | 109.6 |
2022-04 | 110.6 |
2022-03 | 113.1 |
2022-02 | 113.3 |
2022-01 | 110.6 |
2021-12 | 109.6 |
2021-11 | 112.2 |
2021-10 | 110.2 |
2021-09 | 105.4 |
2021-08 | 107.4 |
2021-07 | 107.2 |
2021-06 | 104.5 |
2021-05 | 100.1 |
2021-04 | 92.5 |
2021-03 | 92.9 |
2021-02 | 86.2 |
2021-01 | 88.3 |
2020-12 | 86.6 |
2020-11 | 85.2 |
2020-10 | 89.4 |
2020-09 | 92.4 |
2020-08 | 87.8 |
2020-07 | 76.4 |
2020-06 | 67.6 |
2020-05 | 55.5 |
2020-04 | 52.0 |
2020-03 | 97.4 |
2020-02 | 105.2 |
2020-01 | 105.1 |
2019-12 | 106.2 |
2019-11 | 106.0 |
2019-10 | 105.2 |
2019-09 | 106.0 |
2019-08 | 105.2 |
2019-07 | 106.0 |
2019-06 | 106.5 |
2019-05 | 105.5 |
2019-04 | 107.5 |
2019-03 | 107.8 |
2019-02 | 107.2 |
2019-01 | 105.2 |
2018-12 | 104.7 |
2018-11 | 104.9 |
2018-10 | 106.8 |
2018-09 | 107.2 |
2018-08 | 107.4 |
2018-07 | 108.3 |
2018-06 | 110.0 |
2018-05 | 109.3 |
2018-04 | 109.1 |
2018-03 | 110.1 |
2018-02 | 110.1 |
2018-01 | 109.3 |
2017-12 | 108.7 |
2017-11 | 108.0 |
2017-10 | 108.1 |
2017-09 | 106.7 |
2017-08 | 105.8 |
2017-07 | 107.6 |
2017-06 | 107.8 |
2017-05 | 107.3 |
2017-04 | 106.3 |
2017-03 | 107.5 |
2017-02 | 104.7 |
2017-01 | 105.2 |
2016-12 | 106.4 |
2016-11 | 104.7 |
2016-10 | 104.6 |
2016-09 | 104.3 |
2016-08 | 103.3 |
2016-07 | 103.8 |
2016-06 | 101.7 |
2016-05 | 102.3 |
2016-04 | 100.8 |
2016-03 | 100.0 |
2016-02 | 100.8 |
2016-01 | 102.0 |
2015-12 | 100.7 |
2015-11 | 101.8 |
2015-10 | 100.5 |
2015-09 | 100.3 |
2015-08 | 100.5 |
2015-07 | 99.7 |
2015-06 | 99.3 |
2015-05 | 97.6 |
2015-04 | 97.5 |
2015-03 | 95.8 |
2015-02 | 96.1 |
2015-01 | 94.0 |
2014-12 | 94.7 |
2014-11 | 94.7 |
2014-10 | 94.7 |
2014-09 | 94.8 |
2014-08 | 94.6 |
2014-07 | 96.1 |
2014-06 | 95.5 |
2014-05 | 97.1 |
2014-04 | 98.0 |
2014-03 | 95.6 |
2014-02 | 94.9 |
2014-01 | 95.6 |
2013-12 | 95.5 |
2013-11 | 93.5 |
2013-10 | 95.0 |
2013-09 | 92.7 |
2013-08 | 90.9 |
2013-07 | 90.7 |
2013-06 | 89.3 |
2013-05 | 87.0 |
2013-04 | 87.3 |
2013-03 | 88.7 |
2013-02 | 89.4 |
2013-01 | 92.7 |
2012-12 | 90.0 |
2012-11 | 90.4 |
2012-10 | 91.8 |
2012-09 | 91.3 |
2012-08 | 93.7 |
2012-07 | 92.9 |
2012-06 | 94.2 |
2012-05 | 95.5 |
2012-04 | 97.9 |
2012-03 | 99.2 |
2012-02 | 97.6 |
2012-01 | 98.1 |
2011-12 | 99.1 |
2011-11 | 100.8 |
2011-10 | 100.9 |
2011-09 | 103.6 |
2011-08 | 105.6 |
2011-07 | 109.6 |
2011-06 | 111.3 |
2011-05 | 111.0 |
2011-04 | 109.6 |
2011-03 | 109.4 |
2011-02 | 110.0 |
2011-01 | 104.4 |
2010-12 | 105.4 |
2010-11 | 104.8 |
2010-10 | 103.6 |
2010-09 | 101.0 |
2010-08 | 99.3 |
2010-07 | 99.0 |
2010-06 | 98.6 |
2010-05 | 97.4 |
2010-04 | 95.4 |
2010-03 | 93.3 |
2010-02 | 90.7 |
2010-01 | 90.2 |
2009-12 | 88.8 |
2009-11 | 86.6 |
2009-10 | 84.4 |
2009-09 | 82.3 |
2009-08 | 82.9 |
2009-07 | 78.3 |
2009-06 | 74.7 |
2009-05 | 73.4 |
2009-04 | 74.3 |
2009-03 | 73.8 |
2009-02 | 79.2 |
2009-01 | 80.9 |
2008-12 | 83.2 |
2008-11 | 88.2 |
2008-10 | 95.3 |
2008-09 | 99.6 |
2008-08 | 100.9 |
2008-07 | 105.1 |
2008-06 | 104.8 |
2008-05 | 108.1 |
2008-04 | 112.4 |
2008-03 | 112.2 |
2008-02 | 113.7 |
2008-01 | 113.6 |
2007-12 | 114.4 |
2007-11 | 112.8 |
2007-10 | 111.3 |
2007-09 | 112.9 |
2007-08 | 112.1 |
2007-07 | 110.8 |
2007-06 | 112.6 |
2007-05 | 113.0 |
2007-04 | 111.5 |
2007-03 | 110.9 |
2007-02 | 111.1 |
2007-01 | 109.2 |
2006-12 | 110.7 |
2006-11 | 110.2 |
2006-10 | 108.6 |
2006-09 | 107.8 |
2006-08 | 108.8 |
2006-07 | 109.5 |
2006-06 | 109.6 |
2006-05 | 107.9 |
2006-04 | 106.8 |
2006-03 | 104.5 |
2006-02 | 104.0 |
2006-01 | 103.8 |
2005-12 | 103.0 |
2005-11 | 103.6 |
2005-10 | 103.8 |
2005-09 | 103.4 |
2005-08 | 103.0 |
2005-07 | 102.4 |
2005-06 | 101.9 |
2005-05 | 102.3 |
2005-04 | 101.6 |
2005-03 | 104.1 |
2005-02 | 101.6 |
2005-01 | 101.8 |
graphiqueFrench employment climate composite indicator
Revisions
The composite indicators of the business climate in manufacturing industry and building construction of August 2022 have been revised downwards by one point. Conversely, the composite indicator of the business climate in France and the indicator of the business climate in services for this same month have been revised upwards by one point, as well as the one in wholesale trade for July 2022. These revisions are mainly explained by the inclusion of late responses from companies. The other business climate indicators are unchanged (after rounding).
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 26 August and 19 September 2022.
Next issue: 20 October 2022 at 08:45 am.
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Methodology note (in French) (pdf,245 Ko)
Pour en savoir plus
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 26 August and 19 September 2022.
Next issue: 20 October 2022 at 08:45 am.