Informations Rapides · 24 November 2022 · n° 307
In November 2022, the French business climate remains stable Business indicator - November 2022

In November 2022, the French business climate remains stable. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, stands at 102 for the third month in a row. Therefore, it remains slightly above its long-term average (100). This stability of the business climate is the result of mixed movements: the business situation has somewhat worsened in manufacturing industry, building construction and services compared to October, but it has improved in wholesale trade compared to September. Besides, it remains stable in retail trade.

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N^o 307

Paru le :Paru le24/11/2022

Prochaine parution le : 24/10/2024 at 08:45 - October 2024

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In November 2022, the business climate in France remains stable, slightly above its long term average
The employment climate remains favourable
Revisions
For further information

In November 2022, the business climate in France remains stable, slightly above its long term average

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Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2022-11	102.2
2022-10	102.2
2022-09	101.8
2022-08	103.5
2022-07	102.9
2022-06	104.0
2022-05	105.6
2022-04	105.5
2022-03	106.6
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	112.0
2021-06	113.4
2021-05	109.1
2021-04	95.4
2021-03	97.3
2021-02	90.6
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	59.1
2020-04	47.3
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	110.5
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	95.6
2015-01	94.6
2014-12	93.9
2014-11	93.6
2014-10	91.8
2014-09	91.8
2014-08	92.8
2014-07	94.2
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	94.5
2013-10	95.2
2013-09	95.4
2013-08	91.8
2013-07	88.5
2013-06	86.8
2013-05	85.5
2013-04	84.5
2013-03	85.9
2013-02	88.0
2013-01	88.0
2012-12	88.5
2012-11	87.9
2012-10	86.6
2012-09	88.3
2012-08	89.8
2012-07	90.8
2012-06	92.0
2012-05	93.1
2012-04	97.4
2012-03	95.7
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	107.5
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	96.3
2010-05	96.8
2010-04	95.4
2010-03	91.7
2010-02	92.3
2010-01	91.7
2009-12	90.1
2009-11	89.9
2009-10	88.2
2009-09	85.5
2009-08	82.7
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	75.4
2008-12	77.2
2008-11	79.9
2008-10	83.8
2008-09	92.8
2008-08	95.3
2008-07	96.8
2008-06	100.2
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	112.4
2007-03	111.8
2007-02	111.3
2007-01	109.6
2006-12	109.6
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 manufacturing industry, the business climate indicator has decreased, the business managers being less positive concerning their past activity and their order books.

In building construction, the business climate has weakened, mainly because of the decline in the balances of opinion related to the activity, past as well as expected.

In services, the business climate indicator has also deteriorated, following a slight weakening of the expectations of the business managers surveyed regarding activity.

In retail trade (including trade and repair of vehicles), the business climate is stable, below its long term average.

Finally, conversely, in wholesale trade, the business climate has improved in November 2022 compared to September, held up by an increase in the balances of opinion regarding deliveries received from abroad and past sales.

tableauBusiness and employment climates

Business and employment climates
	Jul. 22	Aug. 22	Sept. 22	Oct. 22	Nov. 22
Business climates
France	103	104	102	102	102
Manufacturing	106	103	102	103	101
Building construction	113	113	113	115	113
Services	107	107	106	106	104
Retail trade	95	99	95	97	97
Wholesale trade	102		97		102

Employment	109	107	109	109	108

Source: INSEE, Business tendency surveys

The employment climate remains favourable

In November 2022, the employment climate has lost one point and stands at 108, thus remaining well above its long-term average (100). It has fluctuated between 107 and 110 since May. This slight degradation in November is mainly the result of the decrease in the balance of opinion regarding the past change in the workforce size 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
2022-11	107.7
2022-10	109.3
2022-09	108.7
2022-08	107.2
2022-07	109.0
2022-06	107.5
2022-05	109.6
2022-04	110.6
2022-03	113.1
2022-02	113.2
2022-01	110.5
2021-12	109.5
2021-11	112.1
2021-10	109.8
2021-09	105.5
2021-08	107.4
2021-07	107.2
2021-06	104.5
2021-05	100.0
2021-04	92.4
2021-03	92.8
2021-02	86.1
2021-01	88.2
2020-12	86.4
2020-11	85.0
2020-10	89.2
2020-09	92.4
2020-08	87.8
2020-07	76.3
2020-06	67.5
2020-05	55.3
2020-04	51.8
2020-03	97.4
2020-02	105.1
2020-01	105.0
2019-12	106.2
2019-11	106.0
2019-10	105.1
2019-09	105.9
2019-08	105.2
2019-07	106.0
2019-06	106.5
2019-05	105.5
2019-04	107.4
2019-03	107.8
2019-02	107.1
2019-01	105.1
2018-12	104.6
2018-11	104.8
2018-10	106.7
2018-09	107.2
2018-08	107.4
2018-07	108.2
2018-06	110.0
2018-05	109.2
2018-04	109.0
2018-03	110.1
2018-02	110.0
2018-01	109.3
2017-12	108.6
2017-11	107.9
2017-10	108.1
2017-09	106.6
2017-08	105.7
2017-07	107.5
2017-06	107.7
2017-05	107.2
2017-04	106.3
2017-03	107.5
2017-02	104.7
2017-01	105.1
2016-12	106.3
2016-11	104.6
2016-10	104.6
2016-09	104.3
2016-08	103.2
2016-07	103.8
2016-06	101.6
2016-05	102.3
2016-04	100.7
2016-03	99.9
2016-02	100.7
2016-01	101.9
2015-12	100.6
2015-11	101.7
2015-10	100.4
2015-09	100.3
2015-08	100.4
2015-07	99.7
2015-06	99.2
2015-05	97.5
2015-04	97.5
2015-03	95.7
2015-02	96.0
2015-01	93.9
2014-12	94.6
2014-11	94.6
2014-10	94.6
2014-09	94.8
2014-08	94.6
2014-07	96.0
2014-06	95.4
2014-05	97.1
2014-04	98.0
2014-03	95.5
2014-02	94.8
2014-01	95.5
2013-12	95.4
2013-11	93.4
2013-10	94.9
2013-09	92.7
2013-08	90.9
2013-07	90.6
2013-06	89.3
2013-05	86.9
2013-04	87.2
2013-03	88.6
2013-02	89.4
2013-01	92.6
2012-12	89.9
2012-11	90.3
2012-10	91.8
2012-09	91.3
2012-08	93.6
2012-07	92.9
2012-06	94.2
2012-05	95.5
2012-04	97.8
2012-03	99.2
2012-02	97.5
2012-01	97.9
2011-12	99.0
2011-11	100.7
2011-10	100.8
2011-09	103.7
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	109.9
2011-01	104.2
2010-12	105.2
2010-11	104.6
2010-10	103.5
2010-09	101.1
2010-08	99.4
2010-07	99.0
2010-06	98.5
2010-05	97.4
2010-04	95.4
2010-03	93.3
2010-02	90.6
2010-01	90.0
2009-12	88.6
2009-11	86.4
2009-10	84.3
2009-09	82.4
2009-08	83.0
2009-07	78.3
2009-06	74.7
2009-05	73.5
2009-04	74.3
2009-03	73.8
2009-02	79.2
2009-01	80.7
2008-12	83.0
2008-11	88.0
2008-10	95.2
2008-09	99.7
2008-08	101.0
2008-07	105.2
2008-06	104.9
2008-05	108.1
2008-04	112.4
2008-03	112.2
2008-02	113.7
2008-01	113.4
2007-12	114.2
2007-11	112.6
2007-10	111.2
2007-09	113.0
2007-08	112.2
2007-07	110.9
2007-06	112.6
2007-05	113.0
2007-04	111.5
2007-03	110.9
2007-02	111.0
2007-01	109.1
2006-12	110.6
2006-11	110.0
2006-10	108.5
2006-09	107.9
2006-08	108.9
2006-07	109.5
2006-06	109.7
2006-05	107.9
2006-04	106.7
2006-03	104.5
2006-02	103.9
2006-01	103.8
2005-12	102.9
2005-11	103.5
2005-10	103.7
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 services and of the employment climate of October 2022 have been revised upwards by one point, as well as the indicator of the business climate in wholesale trade of September 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 27 October and 21 November 2022.

Next issue: 15 December 2022 at 08:45 am.

Documentation

Changes to business tendency surveys – October 2021 (pdf,181 Ko)

Methodology note (in French) (pdf,245 Ko)

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