Informations Rapides ·
15 December 2022 · n° 326
In December 2022, the French business climate remains stable while the employment
climate has improved Business indicator - December 2022
In December 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 fourth month in a row. Therefore, it remains slightly above its long-term average (100). The business situation is stable in most market sectors in December, except in retail trade for which it has improved.
In December 2022, the business climate in France remains stable, slightly above its long term average
In December 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 fourth month in a row. Therefore, it remains slightly above its long-term average (100). The business situation is stable in most market sectors in December, except in retail trade for which it has improved.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 2022-12 | 102.5 |
| 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 | 89.8 |
| 2020-06 | 83.5 |
| 2020-05 | 59.0 |
| 2020-04 | 47.2 |
| 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 | 108.0 |
| 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 | 112.7 |
| 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 | 93.8 |
| 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 | 94.0 |
| 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 | 84.4 |
| 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 | 90.7 |
| 2012-06 | 91.9 |
| 2012-05 | 93.1 |
| 2012-04 | 97.3 |
| 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 | 101.4 |
| 2011-07 | 106.2 |
| 2011-06 | 107.6 |
| 2011-05 | 107.9 |
| 2011-04 | 108.5 |
| 2011-03 | 109.3 |
| 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 | 96.7 |
| 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 | 74.2 |
| 2009-04 | 71.5 |
| 2009-03 | 69.7 |
| 2009-02 | 73.8 |
| 2009-01 | 75.4 |
| 2008-12 | 77.2 |
| 2008-11 | 79.9 |
| 2008-10 | 83.8 |
| 2008-09 | 92.8 |
| 2008-08 | 95.2 |
| 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
- Source: INSEE
In manufacturing industry, the business climate indicator is stable. On the one hand, the opinion of the business managers of the sector regarding past activity has improved. On the other hand, they are less positive concerning their foreign order books.
In building construction, the business climate is unchanged, well above its long term average.
In services, the business climate indicator has not budged compared to November, the rebound of the balance on past employment broadly offsetting the slight decrease in the balance on the general business outlook.
Finally, in retail trade (including trade and repair of vehicles), the business climate has improved, held up for the most part by the balance of opinion on ordering intentions.
tableauBusiness and employment climates
| Aug. 22 | Sept. 22 | Oct. 22 | Nov. 22 | Dec. 22 | |
|---|---|---|---|---|---|
| Business climates | |||||
| France | 103 | 102 | 102 | 102 | 102 |
| Manufacturing | 103 | 102 | 103 | 101 | 101 |
| Building construction | 113 | 113 | 115 | 114 | 114 |
| Services | 107 | 106 | 105 | 104 | 104 |
| Retail trade | 99 | 95 | 97 | 97 | 100 |
| Wholesale trade | 97 | 102 | |||
| Employment | 107 | 109 | 109 | 108 | 111 |
- Source: INSEE, Business tendency surveys
The employment climate has rebounded
In December 2022, the employment climate has rebounded and has reached 111, thus remaining well above its long-term average (100). This improvement is mainly the result of the rebound in the balance of opinion regarding the past change in the workforce size in services (excluding the temporary work agencies) and, to a lesser extent, in retail trade and manufacturing.
tableauFrench employment climate composite indicator
| French employment climate composite indicator | |
|---|---|
| 2022-12 | 110.6 |
| 2022-11 | 107.5 |
| 2022-10 | 109.3 |
| 2022-09 | 108.7 |
| 2022-08 | 107.1 |
| 2022-07 | 108.9 |
| 2022-06 | 107.5 |
| 2022-05 | 109.6 |
| 2022-04 | 110.6 |
| 2022-03 | 113.0 |
| 2022-02 | 113.2 |
| 2022-01 | 110.5 |
| 2021-12 | 109.4 |
| 2021-11 | 112.1 |
| 2021-10 | 109.8 |
| 2021-09 | 105.4 |
| 2021-08 | 107.4 |
| 2021-07 | 107.1 |
| 2021-06 | 104.5 |
| 2021-05 | 100.0 |
| 2021-04 | 92.4 |
| 2021-03 | 92.7 |
| 2021-02 | 86.0 |
| 2021-01 | 88.2 |
| 2020-12 | 86.3 |
| 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 | 51.7 |
| 2020-03 | 97.3 |
| 2020-02 | 105.1 |
| 2020-01 | 105.0 |
| 2019-12 | 106.1 |
| 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 | 107.7 |
| 2019-02 | 107.1 |
| 2019-01 | 105.1 |
| 2018-12 | 104.6 |
| 2018-11 | 104.8 |
| 2018-10 | 106.7 |
| 2018-09 | 107.1 |
| 2018-08 | 107.4 |
| 2018-07 | 108.2 |
| 2018-06 | 110.0 |
| 2018-05 | 109.2 |
| 2018-04 | 109.0 |
| 2018-03 | 110.0 |
| 2018-02 | 110.0 |
| 2018-01 | 109.2 |
| 2017-12 | 108.6 |
| 2017-11 | 107.9 |
| 2017-10 | 108.0 |
| 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 | 107.4 |
| 2017-02 | 104.6 |
| 2017-01 | 105.1 |
| 2016-12 | 106.3 |
| 2016-11 | 104.6 |
| 2016-10 | 104.5 |
| 2016-09 | 104.3 |
| 2016-08 | 103.2 |
| 2016-07 | 103.7 |
| 2016-06 | 101.6 |
| 2016-05 | 102.2 |
| 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 | 97.4 |
| 2015-03 | 95.6 |
| 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 | 94.5 |
| 2014-07 | 96.0 |
| 2014-06 | 95.4 |
| 2014-05 | 97.0 |
| 2014-04 | 98.0 |
| 2014-03 | 95.5 |
| 2014-02 | 94.8 |
| 2014-01 | 95.5 |
| 2013-12 | 95.3 |
| 2013-11 | 93.4 |
| 2013-10 | 94.8 |
| 2013-09 | 92.6 |
| 2013-08 | 90.8 |
| 2013-07 | 90.5 |
| 2013-06 | 89.3 |
| 2013-05 | 86.9 |
| 2013-04 | 87.2 |
| 2013-03 | 88.6 |
| 2013-02 | 89.3 |
| 2013-01 | 92.6 |
| 2012-12 | 89.9 |
| 2012-11 | 90.3 |
| 2012-10 | 91.7 |
| 2012-09 | 91.3 |
| 2012-08 | 93.6 |
| 2012-07 | 92.8 |
| 2012-06 | 94.1 |
| 2012-05 | 95.5 |
| 2012-04 | 97.8 |
| 2012-03 | 99.1 |
| 2012-02 | 97.5 |
| 2012-01 | 97.9 |
| 2011-12 | 99.0 |
| 2011-11 | 100.6 |
| 2011-10 | 100.8 |
| 2011-09 | 103.6 |
| 2011-08 | 105.5 |
| 2011-07 | 109.5 |
| 2011-06 | 111.3 |
| 2011-05 | 111.0 |
| 2011-04 | 109.6 |
| 2011-03 | 109.3 |
| 2011-02 | 109.9 |
| 2011-01 | 104.1 |
| 2010-12 | 105.2 |
| 2010-11 | 104.6 |
| 2010-10 | 103.5 |
| 2010-09 | 101.1 |
| 2010-08 | 99.3 |
| 2010-07 | 99.0 |
| 2010-06 | 98.5 |
| 2010-05 | 97.4 |
| 2010-04 | 95.3 |
| 2010-03 | 93.2 |
| 2010-02 | 90.6 |
| 2010-01 | 89.9 |
| 2009-12 | 88.6 |
| 2009-11 | 86.3 |
| 2009-10 | 84.2 |
| 2009-09 | 82.4 |
| 2009-08 | 83.0 |
| 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 | 80.7 |
| 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 | 104.8 |
| 2008-05 | 108.1 |
| 2008-04 | 112.4 |
| 2008-03 | 112.2 |
| 2008-02 | 113.6 |
| 2008-01 | 113.4 |
| 2007-12 | 114.1 |
| 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 | 109.0 |
| 2006-12 | 110.5 |
| 2006-11 | 110.0 |
| 2006-10 | 108.5 |
| 2006-09 | 107.8 |
| 2006-08 | 108.8 |
| 2006-07 | 109.5 |
| 2006-06 | 109.6 |
| 2006-05 | 107.8 |
| 2006-04 | 106.7 |
| 2006-03 | 104.5 |
| 2006-02 | 103.9 |
| 2006-01 | 103.7 |
| 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
- Source: INSEE
Revisions
The composite indicators of the business climate in building construction of November 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 (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 28 November and 12 December 2022.
Next issue: 24 January 2023 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 28 November and 12 December 2022.
Next issue: 24 January 2023 at 08:45 am.