Informations Rapides · 22 February 2023 · n° 48
In February 2023, the business climate in France has improved a little and the employment climate remains favourable Business indicator - February 2023

In February 2023, the business climate in France has improved a little. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has gained one point compared to January. At 103, it remains slightly above its long-term average (100). This slight improvement is mainly the result of the one in the balances of opinion related to the general and personal activity outlook in services.

Informations rapides

N^o 48

Paru le :Paru le22/02/2023

Prochaine parution le : 23/01/2025 at 08:45 - January 2025

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In February 2023, the business climate in France has improved a little
The employment climate remains favourable
Revisions
For further information

In February 2023, the business climate in France has improved a little

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Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2023-02	103.3
2023-01	101.9
2022-12	102.6
2022-11	102.2
2022-10	102.1
2022-09	101.8
2022-08	103.5
2022-07	102.8
2022-06	103.9
2022-05	105.6
2022-04	105.4
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	110.4
2021-08	109.8
2021-07	112.0
2021-06	113.5
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	77.8
2020-10	89.7
2020-09	93.0
2020-08	93.3
2020-07	89.8
2020-06	83.4
2020-05	58.9
2020-04	47.0
2020-03	93.6
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	110.4
2017-07	109.6
2017-06	108.5
2017-05	107.5
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	98.0
2015-03	96.7
2015-02	95.6
2015-01	94.6
2014-12	93.8
2014-11	93.6
2014-10	91.7
2014-09	91.8
2014-08	92.7
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	95.3
2013-08	91.7
2013-07	88.4
2013-06	86.7
2013-05	85.5
2013-04	84.4
2013-03	85.9
2013-02	88.0
2013-01	87.9
2012-12	88.4
2012-11	87.8
2012-10	86.6
2012-09	88.2
2012-08	89.7
2012-07	90.7
2012-06	91.9
2012-05	93.1
2012-04	97.3
2012-03	95.7
2012-02	93.2
2012-01	93.3
2011-12	94.7
2011-11	95.7
2011-10	97.6
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	91.6
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	79.5
2009-06	77.5
2009-05	74.2
2009-04	71.5
2009-03	69.6
2009-02	73.8
2009-01	75.3
2008-12	77.1
2008-11	79.8
2008-10	83.7
2008-09	92.8
2008-08	95.2
2008-07	96.7
2008-06	100.2
2008-05	103.3
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	109.7
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	101.5
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 services, the business climate indicator has improved a little again, mainly thanks to the rise in the balances of opinion related to the general and personal business outlook.

In manufacturing industry, the business climate has improved a bit, for the third month in a row. The balances of opinion concerning past production and order books have taken the main part to this evolution in February.

In retail trade (including trade and repair of vehicles), the business climate indicator has increased slightly again, mainly because of the increase in the balance on the general business outlook for the sector.

Finally, conversely, in building construction, the business climate has deteriorated again in February, but it remains at a high level.

tableauBusiness and employment climates

Business and employment climates
	Oct. 22	Nov. 22	Dec. 22	Jan. 23	Feb. 23
Business climates
France	102	102	103	102	103
Manufacturing	103	101	102	103	104
Building construction	115	113	115	114	112
Services	105	104	104	105	106
Retail trade	97	97	99	101	102
Wholesale trade		102		95

Employment	109	107	110	111	110

Source: INSEE, Business tendency surveys

The employment climate remains favourable

In February 2023, the employment climate is virtually stable. At 110, it remains well above its long-term average (100). This virtual stability is the result of mixed movements: the sharp improvement in the balance related to the past change in the workforce size in services (excluding temporary work agencies) is offset by the deterioration in the one concerning the expected change of the workforce size in this same sector and in the balances on past employment in the other sectors.

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2023-02	110.3
2023-01	110.5
2022-12	110.2
2022-11	107.5
2022-10	109.3
2022-09	108.7
2022-08	107.2
2022-07	108.9
2022-06	107.4
2022-05	109.5
2022-04	110.5
2022-03	112.9
2022-02	113.0
2022-01	110.3
2021-12	109.4
2021-11	112.0
2021-10	109.8
2021-09	105.4
2021-08	107.4
2021-07	107.1
2021-06	104.4
2021-05	99.9
2021-04	92.3
2021-03	92.6
2021-02	85.9
2021-01	88.0
2020-12	86.3
2020-11	84.9
2020-10	89.1
2020-09	92.4
2020-08	87.7
2020-07	76.2
2020-06	67.4
2020-05	55.2
2020-04	51.7
2020-03	97.3
2020-02	105.0
2020-01	104.9
2019-12	106.0
2019-11	105.9
2019-10	105.0
2019-09	105.9
2019-08	105.1
2019-07	105.9
2019-06	106.4
2019-05	105.4
2019-04	107.3
2019-03	107.7
2019-02	107.0
2019-01	105.0
2018-12	104.5
2018-11	104.7
2018-10	106.6
2018-09	107.1
2018-08	107.4
2018-07	108.1
2018-06	109.9
2018-05	109.1
2018-04	108.9
2018-03	110.0
2018-02	109.9
2018-01	109.2
2017-12	108.5
2017-11	107.9
2017-10	108.0
2017-09	106.6
2017-08	105.7
2017-07	107.4
2017-06	107.6
2017-05	107.1
2017-04	106.2
2017-03	107.4
2017-02	104.6
2017-01	105.0
2016-12	106.3
2016-11	104.5
2016-10	104.5
2016-09	104.2
2016-08	103.2
2016-07	103.7
2016-06	101.5
2016-05	102.2
2016-04	100.7
2016-03	99.8
2016-02	100.6
2016-01	101.8
2015-12	100.6
2015-11	101.7
2015-10	100.4
2015-09	100.2
2015-08	100.3
2015-07	99.6
2015-06	99.2
2015-05	97.4
2015-04	97.4
2015-03	95.6
2015-02	96.0
2015-01	93.8
2014-12	94.5
2014-11	94.5
2014-10	94.6
2014-09	94.7
2014-08	94.5
2014-07	95.9
2014-06	95.3
2014-05	97.0
2014-04	97.9
2014-03	95.5
2014-02	94.7
2014-01	95.4
2013-12	95.3
2013-11	93.3
2013-10	94.8
2013-09	92.6
2013-08	90.8
2013-07	90.5
2013-06	89.2
2013-05	86.8
2013-04	87.2
2013-03	88.5
2013-02	89.3
2013-01	92.5
2012-12	89.8
2012-11	90.2
2012-10	91.7
2012-09	91.2
2012-08	93.5
2012-07	92.8
2012-06	94.1
2012-05	95.4
2012-04	97.8
2012-03	99.1
2012-02	97.4
2012-01	97.9
2011-12	98.9
2011-11	100.6
2011-10	100.7
2011-09	103.6
2011-08	105.5
2011-07	109.5
2011-06	111.2
2011-05	110.9
2011-04	109.5
2011-03	109.3
2011-02	109.8
2011-01	104.1
2010-12	105.1
2010-11	104.5
2010-10	103.4
2010-09	101.0
2010-08	99.3
2010-07	98.9
2010-06	98.5
2010-05	97.3
2010-04	95.3
2010-03	93.2
2010-02	90.6
2010-01	89.9
2009-12	88.5
2009-11	86.3
2009-10	84.2
2009-09	82.4
2009-08	82.9
2009-07	78.3
2009-06	74.6
2009-05	73.4
2009-04	74.3
2009-03	73.7
2009-02	79.1
2009-01	80.7
2008-12	82.9
2008-11	88.0
2008-10	95.1
2008-09	99.7
2008-08	100.9
2008-07	105.2
2008-06	104.8
2008-05	108.1
2008-04	112.3
2008-03	112.2
2008-02	113.6
2008-01	113.3
2007-12	114.1
2007-11	112.5
2007-10	111.2
2007-09	112.9
2007-08	112.1
2007-07	110.8
2007-06	112.6
2007-05	112.9
2007-04	111.4
2007-03	110.9
2007-02	110.9
2007-01	109.0
2006-12	110.5
2006-11	109.9
2006-10	108.4
2006-09	107.8
2006-08	108.8
2006-07	109.5
2006-06	109.6
2006-05	107.7
2006-04	106.7
2006-03	104.4
2006-02	103.9
2006-01	103.7
2005-12	102.8
2005-11	103.4
2005-10	103.6
2005-09	103.3
2005-08	103.0
2005-07	102.4
2005-06	101.9
2005-05	102.2
2005-04	101.6
2005-03	104.1
2005-02	101.5
2005-01	101.7

graphiqueFrench employment climate composite indicator

Revisions

The composite indicator of the employment climate of January 2023 has been revised downwards by one point. This revision (after rounding) 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.

The responses to these surveys were collected between 27 January and 17 February 2023.

Next issue: 28 March 2023 at 08:45 am.