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Informations Rapides · 22 February 2023 · n° 48
Informations rapidesIn 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
No 48
Paru le :Paru le22/02/2023
Prochaine parution le : 20/09/2024 at 08:45 - September 2024

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

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.

French 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

French business climate composite indicator

  • Source: INSEE

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.

Business 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.

French 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

French employment climate composite indicator

  • Source: INSEE

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.

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.

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

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

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