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Informations Rapides · 20 April 2023 · n° 103
Informations rapidesIn April 2023, the business climate in France and the employment climate have faltered a little Business indicator - April 2023

In April 2023, the business climate in France has faltered a little for the second month in a row. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost one point compared to March. At 102, it remains, though, above its long-term average (100). This weakening of the business climate is mainly the result of the deterioration of the business situation in services and in manufacturing industry.

Informations rapides
No 103
Paru le :Paru le20/04/2023
Prochaine parution le : 25/07/2024 at 08:45 - July 2024

In April 2023, the business climate in France has weakened a bit again

In April 2023, the business climate in France has faltered a little for the second month in a row. The indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost one point compared to March. At 102, it remains, though, above its long-term average (100). This weakening of the business climate is mainly the result of the deterioration of the business situation in services and in manufacturing industry.

French business climate composite indicator

French business climate composite indicator
French business climate composite indicator
2023-04 101.9
2023-03 103.1
2023-02 103.5
2023-01 102.0
2022-12 102.5
2022-11 102.1
2022-10 102.1
2022-09 101.8
2022-08 103.4
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 95.3
2021-03 97.3
2021-02 90.6
2021-01 93.1
2020-12 92.1
2020-11 77.7
2020-10 89.6
2020-09 92.9
2020-08 93.3
2020-07 89.8
2020-06 83.4
2020-05 58.8
2020-04 46.9
2020-03 93.6
2020-02 105.5
2020-01 105.7
2019-12 105.7
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
2019-01 103.6
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
2016-10 103.7
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 94.5
2014-12 93.8
2014-11 93.6
2014-10 91.7
2014-09 91.7
2014-08 92.7
2014-07 94.2
2014-06 94.8
2014-05 95.4
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 85.4
2013-04 84.4
2013-03 85.8
2013-02 87.9
2013-01 87.9
2012-12 88.4
2012-11 87.8
2012-10 86.5
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 95.6
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 98.2
2010-06 96.2
2010-05 96.7
2010-04 95.4
2010-03 91.6
2010-02 92.3
2010-01 91.6
2009-12 90.1
2009-11 89.9
2009-10 88.2
2009-09 85.4
2009-08 82.6
2009-07 79.5
2009-06 77.5
2009-05 74.1
2009-04 71.4
2009-03 69.6
2009-02 73.7
2009-01 75.3
2008-12 77.0
2008-11 79.8
2008-10 83.7
2008-09 92.7
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 manufacturing industry, the business climate has deteriorated for the second month in a row, because of the decline in the balances about expected production and order books.

In services, the business climate has darkened a little too, weighed down by the decrease in several forward-looking balances, notably concerning activity and demand.

In building construction, the composite indicator of the business climate has held up, despite a slightly weaker judgement of the business managers regarding the general business outlook for the sector.

Finally, in retail trade (including trade and repair of vehicles), the business climate indicator has improved a little, thanks notably to the rebound in the balance of opinion related to ordering intentions.

Business and employment climates

Business and employment climates
Dec. 22 Jan. 23 Feb. 23 Mar. 23 Apr. 23
Business climates
France 103 102 104 103 102
Manufacturing industry 102 103 105 104 101
Building construction 114 114 112 111 111
Services 104 105 106 105 103
Retail trade* 99 101 102 99 100
Wholesale trade 96 98
Employment 110 110 110 110 108
  • * including trade and repair of vehicles
  • Source : INSEE, business tendency surveys

The employment climate is considered less favourable compared to the previous month

In April 2023, the employment climate has deteriorated, whereas it was stable since December 2022. At 108, it has lost two points but remains well above its long-term average (100). This deterioration in April is, for the most part, the result of the fall in the balances of opinion related to the past and expected change in the workforce size in services (excluding temporary work agencies) and in manufacturing industry.

French employment climate composite indicator

French employment climate composite indicator
French employment climate composite indicator
2023-04 108.4
2023-03 110.4
2023-02 110.2
2023-01 110.4
2022-12 110.1
2022-11 107.4
2022-10 109.3
2022-09 108.7
2022-08 107.2
2022-07 108.9
2022-06 107.4
2022-05 109.5
2022-04 110.2
2022-03 112.8
2022-02 113.0
2022-01 110.2
2021-12 109.3
2021-11 112.0
2021-10 109.8
2021-09 105.4
2021-08 107.4
2021-07 107.0
2021-06 104.4
2021-05 99.9
2021-04 92.1
2021-03 92.5
2021-02 85.8
2021-01 87.9
2020-12 86.2
2020-11 84.9
2020-10 89.1
2020-09 92.3
2020-08 87.8
2020-07 76.1
2020-06 67.3
2020-05 55.1
2020-04 51.5
2020-03 97.2
2020-02 104.9
2020-01 104.9
2019-12 106.0
2019-11 105.8
2019-10 105.0
2019-09 105.8
2019-08 105.2
2019-07 105.9
2019-06 106.4
2019-05 105.3
2019-04 107.2
2019-03 107.6
2019-02 107.0
2019-01 105.0
2018-12 104.4
2018-11 104.7
2018-10 106.6
2018-09 107.0
2018-08 107.4
2018-07 108.1
2018-06 109.8
2018-05 109.1
2018-04 108.9
2018-03 109.9
2018-02 109.8
2018-01 109.1
2017-12 108.5
2017-11 107.8
2017-10 107.9
2017-09 106.5
2017-08 105.7
2017-07 107.4
2017-06 107.6
2017-05 107.1
2017-04 106.2
2017-03 107.3
2017-02 104.5
2017-01 105.0
2016-12 106.2
2016-11 104.5
2016-10 104.4
2016-09 104.2
2016-08 103.2
2016-07 103.7
2016-06 101.5
2016-05 102.1
2016-04 100.6
2016-03 99.7
2016-02 100.6
2016-01 101.8
2015-12 100.5
2015-11 101.6
2015-10 100.3
2015-09 100.2
2015-08 100.3
2015-07 99.6
2015-06 99.1
2015-05 97.4
2015-04 97.3
2015-03 95.5
2015-02 95.9
2015-01 93.8
2014-12 94.5
2014-11 94.5
2014-10 94.5
2014-09 94.7
2014-08 94.4
2014-07 95.9
2014-06 95.3
2014-05 96.9
2014-04 97.9
2014-03 95.4
2014-02 94.7
2014-01 95.4
2013-12 95.2
2013-11 93.3
2013-10 94.7
2013-09 92.5
2013-08 90.7
2013-07 90.4
2013-06 89.2
2013-05 86.8
2013-04 87.1
2013-03 88.5
2013-02 89.2
2013-01 92.4
2012-12 89.8
2012-11 90.2
2012-10 91.6
2012-09 91.2
2012-08 93.5
2012-07 92.7
2012-06 94.0
2012-05 95.3
2012-04 97.7
2012-03 99.0
2012-02 97.4
2012-01 97.8
2011-12 98.9
2011-11 100.5
2011-10 100.7
2011-09 103.5
2011-08 105.4
2011-07 109.4
2011-06 111.1
2011-05 110.9
2011-04 109.5
2011-03 109.2
2011-02 109.8
2011-01 104.0
2010-12 105.0
2010-11 104.5
2010-10 103.3
2010-09 101.0
2010-08 99.2
2010-07 98.9
2010-06 98.4
2010-05 97.3
2010-04 95.2
2010-03 93.1
2010-02 90.5
2010-01 89.8
2009-12 88.5
2009-11 86.2
2009-10 84.1
2009-09 82.3
2009-08 82.9
2009-07 78.2
2009-06 74.6
2009-05 73.3
2009-04 74.2
2009-03 73.7
2009-02 79.1
2009-01 80.6
2008-12 82.9
2008-11 87.9
2008-10 95.1
2008-09 99.6
2008-08 100.9
2008-07 105.1
2008-06 104.7
2008-05 108.0
2008-04 112.3
2008-03 112.1
2008-02 113.5
2008-01 113.3
2007-12 114.0
2007-11 112.5
2007-10 111.1
2007-09 112.9
2007-08 112.1
2007-07 110.8
2007-06 112.5
2007-05 112.9
2007-04 111.4
2007-03 110.8
2007-02 110.9
2007-01 108.9
2006-12 110.4
2006-11 109.9
2006-10 108.4
2006-09 107.7
2006-08 108.8
2006-07 109.4
2006-06 109.6
2006-05 107.7
2006-04 106.6
2006-03 104.4
2006-02 103.8
2006-01 103.7
2005-12 102.8
2005-11 103.4
2005-10 103.6
2005-09 103.3
2005-08 102.9
2005-07 102.3
2005-06 101.8
2005-05 102.2
2005-04 101.5
2005-03 104.0
2005-02 101.5
2005-01 101.7

French employment climate composite indicator

  • Source: INSEE

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 March and 18 April 2023.

Next issue: 25 May 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 March and 18 April 2023.

Next issue: 25 May 2023 at 08:45 am.

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