Informations Rapides · 21 September 2023 · n° 239
In September 2023, the business climate in France remains stable while the employment climate has bounced back Business indicator - September 2023

In September 2023, the business climate in France is stable. At 100, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, remains for the fifth month in a row at its long-term average. This stability is the result of mixed movements in the different sectors, with in particular an improvement this month of the business situation in manufacturing industry, offset by a retreat in retail trade.

Informations rapides

N^o 239

Paru le :Paru le21/09/2023

Prochaine parution le : 20/09/2024 at 08:45 - September 2024

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In September 2023, the business climate remains at its long-term average
The employment climate has rebounded
Revisions
For further information

In September 2023, the business climate remains at its long-term average

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Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2023-09	100.3
2023-08	99.9
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	101.9
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	92.4
2020-11	78.1
2020-10	90.0
2020-09	93.9
2020-08	94.2
2020-07	90.8
2020-06	84.8
2020-05	59.9
2020-04	47.7
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	108.9
2018-05	109.2
2018-04	110.8
2018-03	111.6
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	95.8
2015-01	94.8
2014-12	94.0
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	95.5
2013-08	91.9
2013-07	88.7
2013-06	86.9
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	97.6
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	79.7
2009-06	77.8
2009-05	74.4
2009-04	71.5
2009-03	69.7
2009-02	73.7
2009-01	75.2
2008-12	76.9
2008-11	79.7
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	112.5
2007-06	113.3
2007-05	112.3
2007-04	112.1
2007-03	111.6
2007-02	111.2
2007-01	109.5
2006-12	109.4
2006-11	110.9
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 somewhat improved in September following a sharp deterioration in August, notably because of the increase in the balance of opinion regarding personal production expectations.

In wholesale trade, the bimonthly indicator of the business climate has improved compared to July, driven by the rebound in the balances of opinion on the merchandise received from abroad and the ordering intentions.

In services, the business climate indicator has held up, a little above its long-term average.

In building construction, the business climate is virtually stable, the business managers of the sector being less positive concerning their activity but more optimistic about the employment outlook.

Finally, in retail trade (including trade and repair of vehicles), the business climate has retreated, mainly because of a general business outlook considered less favourably.

tableauBusiness and employment climates

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

Employment	107	106	106	102	104

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

The employment climate has rebounded

In September 2023, the employment climate has bounced back compared to August. At 104, the indicator has gained two points, after losing four points in August. It remains above its long-term average (100). This rebound results mostly from the improvement in the balance of opinion on the expected change in the workforce size in services (excluding temporary work agencies).

Graphique
Tableau

Affichage de l’onglet contenant le tableau ou de l’onglet contenant le graphique

tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2023-09	104.3
2023-08	101.8
2023-07	105.8
2023-06	106.2
2023-05	106.8
2023-04	110.1
2023-03	110.2
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	108.0
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	107.2
2021-08	108.6
2021-07	108.2
2021-06	106.5
2021-05	101.4
2021-04	92.5
2021-03	92.3
2021-02	85.7
2021-01	86.8
2020-12	85.2
2020-11	83.2
2020-10	89.1
2020-09	93.4
2020-08	89.1
2020-07	78.9
2020-06	69.9
2020-05	53.9
2020-04	47.4
2020-03	97.9
2020-02	105.8
2020-01	105.1
2019-12	106.4
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	109.0
2018-03	109.9
2018-02	109.4
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	107.2
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	101.1
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	95.0
2015-02	95.4
2015-01	93.4
2014-12	94.2
2014-11	94.0
2014-10	94.0
2014-09	94.1
2014-08	93.9
2014-07	95.2
2014-06	94.9
2014-05	96.5
2014-04	97.2
2014-03	95.2
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	90.1
2013-06	89.0
2013-05	86.0
2013-04	87.0
2013-03	88.5
2013-02	89.2
2013-01	92.1
2012-12	89.7
2012-11	89.9
2012-10	91.5
2012-09	91.3
2012-08	93.3
2012-07	92.7
2012-06	93.9
2012-05	95.1
2012-04	97.8
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	93.1
2010-02	90.7
2010-01	90.0
2009-12	88.5
2009-11	86.7
2009-10	84.4
2009-09	82.9
2009-08	83.9
2009-07	79.0
2009-06	75.2
2009-05	74.1
2009-04	74.7
2009-03	74.4
2009-02	79.0
2009-01	80.9
2008-12	83.6
2008-11	88.2
2008-10	95.4
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	113.8
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 indicators of the business climate in France and the employment climate of August 2023 have both been revised upwards by one point, as has the business climate in manufacturing industry. The business climate in services for this same month has been revised upwards by two points. 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 surveys in manufacturing industry, building construction, retail trade and trade and repair of vehicles and services are part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

The responses to these surveys were collected between 28 August and 18 September 2023.

Next issue: 19 October 2023 at 08:45 am.