Informations Rapides · 24 August 2023 · n° 212
In August 2023, the business climate in France and the employment climate have deteriorated Business indicator - August 2023

In August 2023, the business climate in France has darkened. At 99, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, has lost one point. It has fallen below its long-term average (100), its lowest level since April 2021. This worsening can be explained by the deterioration of the business situation in manufacturing industry and in services.

Informations rapides

N^o 212

Paru le :Paru le24/08/2023

Prochaine parution le : 22/05/2025 at 08:45 - May 2025

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In August 2023, the business climate has fallen just below its long term average
The employment climate has deteriorated sharply
Revisions
For further information

In August 2023, the business climate has fallen just below its long term average

Graphique
Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2023-08	99.2
2023-07	100.0
2023-06	100.4
2023-05	99.7
2023-04	102.2
2023-03	103.1
2023-02	102.9
2023-01	102.1
2022-12	102.2
2022-11	102.0
2022-10	102.2
2022-09	102.6
2022-08	104.0
2022-07	103.5
2022-06	104.7
2022-05	105.9
2022-04	106.3
2022-03	107.4
2022-02	113.0
2022-01	108.2
2021-12	109.5
2021-11	113.8
2021-10	113.0
2021-09	111.7
2021-08	110.6
2021-07	112.8
2021-06	114.5
2021-05	109.7
2021-04	96.2
2021-03	97.9
2021-02	90.8
2021-01	93.6
2020-12	92.5
2020-11	78.2
2020-10	90.0
2020-09	93.9
2020-08	94.2
2020-07	90.8
2020-06	84.8
2020-05	60.0
2020-04	47.8
2020-03	94.2
2020-02	105.7
2020-01	106.1
2019-12	106.0
2019-11	106.2
2019-10	106.1
2019-09	106.7
2019-08	105.9
2019-07	105.7
2019-06	106.4
2019-05	106.5
2019-04	106.5
2019-03	106.0
2019-02	104.5
2019-01	104.1
2018-12	103.6
2018-11	106.4
2018-10	106.0
2018-09	107.3
2018-08	107.8
2018-07	108.1
2018-06	108.8
2018-05	109.1
2018-04	110.8
2018-03	111.5
2018-02	111.6
2018-01	112.5
2017-12	113.1
2017-11	111.5
2017-10	110.5
2017-09	110.7
2017-08	110.4
2017-07	109.4
2017-06	108.5
2017-05	107.5
2017-04	106.9
2017-03	106.5
2017-02	106.8
2017-01	106.1
2016-12	105.9
2016-11	103.5
2016-10	103.6
2016-09	103.4
2016-08	103.4
2016-07	103.7
2016-06	102.9
2016-05	104.2
2016-04	102.3
2016-03	102.8
2016-02	102.9
2016-01	103.9
2015-12	101.5
2015-11	102.8
2015-10	102.8
2015-09	102.0
2015-08	102.7
2015-07	101.0
2015-06	100.6
2015-05	99.4
2015-04	98.3
2015-03	97.0
2015-02	95.9
2015-01	94.8
2014-12	94.1
2014-11	93.9
2014-10	92.1
2014-09	92.1
2014-08	93.1
2014-07	94.5
2014-06	95.1
2014-05	95.7
2014-04	96.2
2014-03	96.3
2014-02	95.1
2014-01	95.6
2013-12	94.3
2013-11	94.8
2013-10	95.4
2013-09	95.6
2013-08	91.9
2013-07	88.7
2013-06	87.0
2013-05	85.7
2013-04	84.7
2013-03	86.1
2013-02	88.1
2013-01	88.1
2012-12	88.5
2012-11	87.8
2012-10	86.6
2012-09	88.3
2012-08	89.8
2012-07	90.8
2012-06	91.9
2012-05	93.0
2012-04	97.2
2012-03	95.6
2012-02	93.1
2012-01	93.2
2011-12	94.7
2011-11	95.6
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	108.6
2011-03	109.4
2011-02	108.8
2011-01	107.6
2010-12	106.6
2010-11	105.0
2010-10	104.2
2010-09	102.4
2010-08	100.3
2010-07	98.3
2010-06	96.3
2010-05	96.9
2010-04	95.6
2010-03	91.9
2010-02	92.5
2010-01	91.9
2009-12	90.3
2009-11	90.1
2009-10	88.5
2009-09	85.7
2009-08	82.9
2009-07	79.8
2009-06	77.8
2009-05	74.4
2009-04	71.5
2009-03	69.7
2009-02	73.7
2009-01	75.3
2008-12	77.0
2008-11	79.8
2008-10	83.6
2008-09	92.6
2008-08	95.0
2008-07	96.5
2008-06	100.0
2008-05	103.2
2008-04	105.9
2008-03	108.0
2008-02	108.0
2008-01	109.2
2007-12	109.8
2007-11	110.1
2007-10	109.6
2007-09	110.9
2007-08	111.5
2007-07	112.4
2007-06	113.3
2007-05	112.3
2007-04	112.1
2007-03	111.5
2007-02	111.2
2007-01	109.5
2006-12	109.4
2006-11	110.8
2006-10	109.2
2006-09	109.1
2006-08	108.5
2006-07	108.0
2006-06	106.0
2006-05	106.4
2006-04	104.5
2006-03	104.1
2006-02	103.6
2006-01	105.9
2005-12	104.5
2005-11	102.9
2005-10	103.4
2005-09	100.6
2005-08	101.3
2005-07	101.4
2005-06	101.7
2005-05	100.8
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 has deteriorated sharply, mainly weighed down by the balances of opinion related to the order books and the past production.

In services, the business climate indicator has declined compared to July and has returned to its long-term average, because of the retreat in the balances of opinion regarding the activity.

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

Finally, in building construction, the business climate has improved a little this month, following the increase in the balances of opinion related to the past and expected activity.

tableauBusiness and employment climates

Business and employment climates
	Apr. 23	May 23	June 23	Jul. 23	Aug. 23
Business climates
France	102	100	100	100	99
Manufacturing industry	101	99	100	101	96
Building construction	108	107	106	105	106
Services	103	101	102	102	100
Retail trade*	100	97	102	106	105
Wholesale trade		94		92

Employment	110	107	106	106	101

* including trade and repair of vehicles
Source : INSEE, business tendency surveys

The employment climate has deteriorated sharply

In August 2023, the employment climate has deteriorated sharply compared to July. At 101, the indicator has lost five points and stands just above its long-term average (100). This represents its lowest level since April 2021. This degradation results in particular from the retreat in the balance of opinion on the expected change in the workforce size in services (excluding temporary work agencies) and, to a lesser extent, to the decline in the balance related to the past change in the workforce size in this same sector and in manufacturing industry.

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2023-08	100.7
2023-07	105.8
2023-06	106.2
2023-05	106.9
2023-04	110.1
2023-03	110.3
2023-02	110.4
2023-01	110.9
2022-12	110.0
2022-11	108.1
2022-10	108.9
2022-09	109.7
2022-08	107.9
2022-07	110.2
2022-06	108.2
2022-05	110.6
2022-04	111.5
2022-03	113.2
2022-02	113.7
2022-01	109.8
2021-12	108.7
2021-11	112.5
2021-10	110.5
2021-09	107.3
2021-08	108.5
2021-07	108.2
2021-06	106.5
2021-05	101.4
2021-04	92.6
2021-03	92.3
2021-02	85.7
2021-01	86.8
2020-12	85.3
2020-11	83.3
2020-10	89.2
2020-09	93.5
2020-08	89.1
2020-07	78.9
2020-06	70.0
2020-05	54.0
2020-04	47.4
2020-03	97.9
2020-02	105.9
2020-01	105.1
2019-12	106.5
2019-11	107.1
2019-10	106.1
2019-09	107.5
2019-08	106.7
2019-07	106.8
2019-06	107.4
2019-05	105.7
2019-04	107.6
2019-03	108.2
2019-02	107.2
2019-01	105.7
2018-12	104.5
2018-11	104.9
2018-10	106.9
2018-09	107.5
2018-08	107.6
2018-07	108.2
2018-06	109.7
2018-05	109.6
2018-04	109.1
2018-03	109.9
2018-02	109.5
2018-01	108.9
2017-12	108.2
2017-11	107.2
2017-10	108.0
2017-09	106.7
2017-08	105.1
2017-07	107.3
2017-06	107.5
2017-05	107.1
2017-04	106.4
2017-03	107.3
2017-02	104.5
2017-01	105.2
2016-12	106.2
2016-11	105.0
2016-10	104.6
2016-09	104.5
2016-08	102.7
2016-07	104.1
2016-06	101.2
2016-05	101.7
2016-04	100.0
2016-03	99.4
2016-02	100.4
2016-01	101.4
2015-12	100.4
2015-11	101.4
2015-10	99.7
2015-09	99.7
2015-08	100.1
2015-07	99.2
2015-06	98.8
2015-05	96.9
2015-04	96.9
2015-03	95.1
2015-02	95.4
2015-01	93.4
2014-12	94.2
2014-11	94.0
2014-10	94.0
2014-09	94.2
2014-08	93.9
2014-07	95.2
2014-06	94.9
2014-05	96.5
2014-04	97.2
2014-03	95.3
2014-02	94.1
2014-01	94.7
2013-12	94.5
2013-11	93.2
2013-10	94.3
2013-09	91.9
2013-08	90.7
2013-07	90.2
2013-06	89.0
2013-05	86.0
2013-04	87.1
2013-03	88.5
2013-02	89.2
2013-01	92.2
2012-12	89.7
2012-11	89.9
2012-10	91.6
2012-09	91.3
2012-08	93.3
2012-07	92.7
2012-06	93.9
2012-05	95.1
2012-04	97.9
2012-03	98.7
2012-02	97.5
2012-01	97.9
2011-12	98.7
2011-11	100.6
2011-10	100.2
2011-09	103.6
2011-08	105.4
2011-07	109.6
2011-06	111.2
2011-05	111.1
2011-04	109.3
2011-03	109.2
2011-02	110.2
2011-01	103.4
2010-12	105.3
2010-11	104.3
2010-10	103.0
2010-09	100.3
2010-08	98.6
2010-07	98.1
2010-06	97.9
2010-05	96.8
2010-04	95.1
2010-03	93.2
2010-02	90.7
2010-01	90.0
2009-12	88.5
2009-11	86.7
2009-10	84.5
2009-09	82.9
2009-08	83.9
2009-07	79.1
2009-06	75.3
2009-05	74.1
2009-04	74.7
2009-03	74.4
2009-02	79.1
2009-01	81.0
2008-12	83.6
2008-11	88.3
2008-10	95.5
2008-09	99.9
2008-08	101.1
2008-07	105.9
2008-06	104.5
2008-05	108.2
2008-04	112.4
2008-03	112.3
2008-02	113.7
2008-01	113.8
2007-12	114.1
2007-11	113.0
2007-10	111.7
2007-09	113.3
2007-08	112.6
2007-07	111.1
2007-06	112.9
2007-05	113.7
2007-04	111.5
2007-03	111.0
2007-02	111.4
2007-01	109.2
2006-12	111.1
2006-11	110.4
2006-10	109.1
2006-09	108.1
2006-08	109.2
2006-07	109.9
2006-06	110.4
2006-05	108.2
2006-04	107.5
2006-03	105.1
2006-02	104.5
2006-01	104.3
2005-12	103.0
2005-11	103.6
2005-10	103.6
2005-09	103.5
2005-08	103.3
2005-07	102.8
2005-06	102.3
2005-05	102.9
2005-04	102.4
2005-03	104.7
2005-02	102.3
2005-01	102.4

graphiqueFrench employment climate composite indicator

Revisions

The composite indicator of the business climate in manufacturing industry of July 2023 has been revised upwards by one point, whereas the business climate in building construction for this same month has been revised downwards by one point. Those 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.

The responses to these surveys were collected between 26 July and 21 August 2023.

Next issue: 21 September 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