Informations Rapides ·
23 November 2023 · n° 296
In November 2023, the business climate in services is stable, at its long-term average Monthly survey of services - November 2023
According to the business managers surveyed in November 2023, the business climate is stable in services. At 100, the indicator that synthesizes it remains at its long-term average.
According to the business managers surveyed in November 2023, the business climate is stable in services. At 100, the indicator that synthesizes it remains at its long-term average.
tableauBusiness climate composite indicator
Business climate composite indicator | |
---|---|
2023-11 | 99.6 |
2023-10 | 99.9 |
2023-09 | 101.5 |
2023-08 | 101.6 |
2023-07 | 101.6 |
2023-06 | 101.9 |
2023-05 | 101.3 |
2023-04 | 103.0 |
2023-03 | 104.7 |
2023-02 | 105.2 |
2023-01 | 104.4 |
2022-12 | 103.5 |
2022-11 | 103.4 |
2022-10 | 104.4 |
2022-09 | 105.5 |
2022-08 | 106.5 |
2022-07 | 106.1 |
2022-06 | 107.5 |
2022-05 | 108.7 |
2022-04 | 108.2 |
2022-03 | 108.7 |
2022-02 | 111.6 |
2022-01 | 105.1 |
2021-12 | 107.1 |
2021-11 | 113.4 |
2021-10 | 112.4 |
2021-09 | 110.1 |
2021-08 | 108.6 |
2021-07 | 110.8 |
2021-06 | 112.3 |
2021-05 | 106.5 |
2021-04 | 91.5 |
2021-03 | 93.9 |
2021-02 | 87.7 |
2021-01 | 91.1 |
2020-12 | 89.4 |
2020-11 | 76.0 |
2020-10 | 87.4 |
2020-09 | 93.8 |
2020-08 | 93.5 |
2020-07 | 88.6 |
2020-06 | 77.8 |
2020-05 | 50.1 |
2020-04 | 39.3 |
2020-03 | 92.4 |
2020-02 | 105.7 |
2020-01 | 106.0 |
2019-12 | 106.3 |
2019-11 | 105.8 |
2019-10 | 105.1 |
2019-09 | 105.6 |
2019-08 | 105.1 |
2019-07 | 104.7 |
2019-06 | 105.6 |
2019-05 | 105.4 |
2019-04 | 105.5 |
2019-03 | 104.7 |
2019-02 | 103.6 |
2019-01 | 103.5 |
2018-12 | 101.8 |
2018-11 | 103.4 |
2018-10 | 102.9 |
2018-09 | 104.4 |
2018-08 | 104.0 |
2018-07 | 104.3 |
2018-06 | 104.3 |
2018-05 | 104.2 |
2018-04 | 105.9 |
2018-03 | 106.8 |
2018-02 | 106.7 |
2018-01 | 107.5 |
2017-12 | 108.6 |
2017-11 | 107.1 |
2017-10 | 106.4 |
2017-09 | 106.4 |
2017-08 | 106.3 |
2017-07 | 103.8 |
2017-06 | 103.2 |
2017-05 | 102.8 |
2017-04 | 103.2 |
2017-03 | 103.2 |
2017-02 | 102.9 |
2017-01 | 101.6 |
2016-12 | 103.5 |
2016-11 | 100.8 |
2016-10 | 100.7 |
2016-09 | 100.7 |
2016-08 | 100.1 |
2016-07 | 100.3 |
2016-06 | 99.1 |
2016-05 | 100.7 |
2016-04 | 98.3 |
2016-03 | 99.5 |
2016-02 | 99.8 |
2016-01 | 100.1 |
2015-12 | 97.1 |
2015-11 | 99.2 |
2015-10 | 99.4 |
2015-09 | 97.6 |
2015-08 | 98.5 |
2015-07 | 97.4 |
2015-06 | 96.8 |
2015-05 | 95.4 |
2015-04 | 94.0 |
2015-03 | 92.4 |
2015-02 | 91.5 |
2015-01 | 91.2 |
2014-12 | 91.4 |
2014-11 | 91.3 |
2014-10 | 91.2 |
2014-09 | 91.1 |
2014-08 | 91.6 |
2014-07 | 92.5 |
2014-06 | 92.3 |
2014-05 | 92.3 |
2014-04 | 93.3 |
2014-03 | 93.1 |
2014-02 | 92.2 |
2014-01 | 92.3 |
2013-12 | 90.9 |
2013-11 | 92.4 |
2013-10 | 91.8 |
2013-09 | 92.4 |
2013-08 | 88.7 |
2013-07 | 86.7 |
2013-06 | 86.1 |
2013-05 | 84.8 |
2013-04 | 83.4 |
2013-03 | 84.3 |
2013-02 | 87.2 |
2013-01 | 88.3 |
2012-12 | 87.3 |
2012-11 | 85.7 |
2012-10 | 86.2 |
2012-09 | 87.3 |
2012-08 | 87.6 |
2012-07 | 89.7 |
2012-06 | 90.2 |
2012-05 | 92.1 |
2012-04 | 95.7 |
2012-03 | 93.4 |
2012-02 | 92.0 |
2012-01 | 92.6 |
2011-12 | 94.6 |
2011-11 | 95.1 |
2011-10 | 97.3 |
2011-09 | 98.3 |
2011-08 | 100.5 |
2011-07 | 105.0 |
2011-06 | 107.0 |
2011-05 | 107.4 |
2011-04 | 108.8 |
2011-03 | 110.2 |
2011-02 | 109.0 |
2011-01 | 107.0 |
2010-12 | 106.7 |
2010-11 | 104.7 |
2010-10 | 102.8 |
2010-09 | 101.6 |
2010-08 | 100.6 |
2010-07 | 99.1 |
2010-06 | 98.3 |
2010-05 | 99.3 |
2010-04 | 97.7 |
2010-03 | 94.4 |
2010-02 | 94.3 |
2010-01 | 94.0 |
2009-12 | 92.7 |
2009-11 | 92.2 |
2009-10 | 90.7 |
2009-09 | 87.6 |
2009-08 | 84.3 |
2009-07 | 81.8 |
2009-06 | 78.1 |
2009-05 | 73.5 |
2009-04 | 69.3 |
2009-03 | 68.9 |
2009-02 | 74.0 |
2009-01 | 75.2 |
2008-12 | 77.8 |
2008-11 | 80.7 |
2008-10 | 84.6 |
2008-09 | 93.2 |
2008-08 | 95.1 |
2008-07 | 96.6 |
2008-06 | 101.0 |
2008-05 | 104.2 |
2008-04 | 106.6 |
2008-03 | 108.4 |
2008-02 | 108.4 |
2008-01 | 110.2 |
2007-12 | 108.9 |
2007-11 | 110.0 |
2007-10 | 109.9 |
2007-09 | 111.3 |
2007-08 | 112.1 |
2007-07 | 112.9 |
2007-06 | 112.4 |
2007-05 | 112.7 |
2007-04 | 112.8 |
2007-03 | 113.1 |
2007-02 | 112.2 |
2007-01 | 110.7 |
2006-12 | 111.1 |
2006-11 | 112.9 |
2006-10 | 110.6 |
2006-09 | 110.5 |
2006-08 | 110.3 |
2006-07 | 110.2 |
2006-06 | 109.0 |
2006-05 | 110.3 |
2006-04 | 107.6 |
2006-03 | 107.4 |
2006-02 | 106.1 |
2006-01 | 108.8 |
2005-12 | 106.9 |
2005-11 | 106.4 |
2005-10 | 108.3 |
2005-09 | 106.7 |
2005-08 | 107.1 |
2005-07 | 107.4 |
2005-06 | 108.1 |
2005-05 | 106.0 |
2005-04 | 107.9 |
2005-03 | 108.1 |
2005-02 | 106.2 |
2005-01 | 106.4 |
graphiqueBusiness climate composite indicator

- Source: INSEE
The opinion of the business managers about the activity and the demand has barely shifted in November
In November 2023, the balance of opinion of the business managers in services about the general business outlook for the sector has held up a little below its long-term average. The one on the expected activity has diminished very slightly and has moved just below its own. The balance related to the expected demand is virtually stable, at its average. At the same time, the one on the economic uncertainty felt has retreated.
The balance of opinion on the activity over the past three months is virtually stable, below its average.
The balance on the recent change in selling prices has risen a bit, whereas the one on their expected change has decreased a little. Both remain above their long-term average.
tableauExpected prices in services
Expected prices | |
---|---|
2023-11 | 4.4 |
2023-10 | 5.4 |
2023-09 | 8.6 |
2023-08 | 7.2 |
2023-07 | 6.2 |
2023-06 | 6.7 |
2023-05 | 7.3 |
2023-04 | 11.9 |
2023-03 | 14.5 |
2023-02 | 16.1 |
2023-01 | 18.6 |
2022-12 | 15.8 |
2022-11 | 13.2 |
2022-10 | 12.2 |
2022-09 | 11.2 |
2022-08 | 10.7 |
2022-07 | 10.8 |
2022-06 | 11.4 |
2022-05 | 10.3 |
2022-04 | 10.3 |
2022-03 | 8.0 |
2022-02 | 8.2 |
2022-01 | 7.1 |
2021-12 | 5.2 |
2021-11 | 7.0 |
2021-10 | 4.5 |
2021-09 | 3.9 |
2021-08 | 4.3 |
2021-07 | 3.7 |
2021-06 | 1.0 |
2021-05 | -0.6 |
2021-04 | -9.7 |
2021-03 | -7.4 |
2021-02 | -11.5 |
2021-01 | -10.1 |
2020-12 | -8.2 |
2020-11 | -12.5 |
2020-10 | -8.9 |
2020-09 | -3.0 |
2020-08 | -5.3 |
2020-07 | -8.7 |
2020-06 | -12.3 |
2020-05 | -22.4 |
2020-04 | -23.9 |
2020-03 | -3.3 |
2020-02 | 0.4 |
2020-01 | 0.0 |
2019-12 | 0.2 |
2019-11 | -0.1 |
2019-10 | 1.7 |
2019-09 | -0.6 |
2019-08 | -1.1 |
2019-07 | 0.0 |
2019-06 | 0.2 |
2019-05 | -1.6 |
2019-04 | -3.0 |
2019-03 | -1.0 |
2019-02 | -2.6 |
2019-01 | -2.3 |
2018-12 | 0.1 |
2018-11 | -2.5 |
2018-10 | -2.8 |
2018-09 | -1.5 |
2018-08 | -0.6 |
2018-07 | -6.8 |
2018-06 | -4.9 |
2018-05 | -1.8 |
2018-04 | -3.2 |
2018-03 | -3.4 |
2018-02 | -3.7 |
2018-01 | -2.4 |
2017-12 | -3.4 |
2017-11 | -2.7 |
2017-10 | -2.4 |
2017-09 | -1.7 |
2017-08 | -5.6 |
2017-07 | -7.0 |
2017-06 | -4.5 |
2017-05 | -4.8 |
2017-04 | -5.4 |
2017-03 | -3.7 |
2017-02 | -3.7 |
2017-01 | -6.3 |
2016-12 | -5.5 |
2016-11 | -7.7 |
2016-10 | -6.8 |
2016-09 | -4.8 |
2016-08 | -5.2 |
2016-07 | -4.7 |
2016-06 | -6.8 |
2016-05 | -6.2 |
2016-04 | -4.9 |
2016-03 | -5.1 |
2016-02 | -4.6 |
2016-01 | -8.5 |
2015-12 | -8.9 |
2015-11 | -5.8 |
2015-10 | -5.9 |
2015-09 | -7.5 |
2015-08 | -6.4 |
2015-07 | -6.9 |
2015-06 | -6.1 |
2015-05 | -6.2 |
2015-04 | -7.8 |
2015-03 | -9.8 |
2015-02 | -9.7 |
2015-01 | -11.4 |
2014-12 | -11.0 |
2014-11 | -10.3 |
2014-10 | -9.5 |
2014-09 | -10.6 |
2014-08 | -9.0 |
2014-07 | -9.2 |
2014-06 | -9.3 |
2014-05 | -9.9 |
2014-04 | -9.6 |
2014-03 | -10.8 |
2014-02 | -11.0 |
2014-01 | -8.4 |
2013-12 | -9.4 |
2013-11 | -8.5 |
2013-10 | -10.1 |
2013-09 | -10.4 |
2013-08 | -10.7 |
2013-07 | -12.3 |
2013-06 | -12.0 |
2013-05 | -12.3 |
2013-04 | -12.3 |
2013-03 | -12.0 |
2013-02 | -11.9 |
2013-01 | -9.8 |
2012-12 | -9.2 |
2012-11 | -9.6 |
2012-10 | -11.0 |
2012-09 | -7.6 |
2012-08 | -7.8 |
2012-07 | -4.3 |
2012-06 | -6.0 |
2012-05 | -5.6 |
2012-04 | -4.2 |
2012-03 | -0.7 |
2012-02 | -3.4 |
2012-01 | 0.5 |
2011-12 | -2.3 |
2011-11 | -4.3 |
2011-10 | -3.0 |
2011-09 | -1.6 |
2011-08 | -1.5 |
2011-07 | -0.3 |
2011-06 | 0.5 |
2011-05 | 5.1 |
2011-04 | 2.4 |
2011-03 | 3.5 |
2011-02 | 3.3 |
2011-01 | -0.1 |
2010-12 | 0.0 |
2010-11 | -1.1 |
2010-10 | -0.9 |
2010-09 | -3.1 |
2010-08 | -3.8 |
2010-07 | -7.7 |
2010-06 | -5.4 |
2010-05 | -5.7 |
2010-04 | -7.8 |
2010-03 | -7.5 |
2010-02 | -9.0 |
2010-01 | -8.5 |
2009-12 | -10.1 |
2009-11 | -10.1 |
2009-10 | -9.4 |
2009-09 | -12.4 |
2009-08 | -14.4 |
2009-07 | -18.5 |
2009-06 | -15.4 |
2009-05 | -17.8 |
2009-04 | -17.7 |
2009-03 | -17.1 |
2009-02 | -13.1 |
2009-01 | -13.1 |
2008-12 | -13.8 |
2008-11 | -9.6 |
2008-10 | -2.7 |
2008-09 | 0.3 |
2008-08 | 1.5 |
2008-07 | 3.4 |
2008-06 | 3.2 |
2008-05 | 3.4 |
2008-04 | 3.9 |
2008-03 | 2.6 |
2008-02 | 2.1 |
2008-01 | 2.2 |
2007-12 | 3.0 |
2007-11 | 2.7 |
2007-10 | 1.3 |
2007-09 | 2.3 |
2007-08 | 3.2 |
2007-07 | 3.4 |
2007-06 | 2.1 |
2007-05 | 2.9 |
2007-04 | 2.2 |
2007-03 | 1.5 |
2007-02 | 1.1 |
2007-01 | 1.8 |
graphiqueExpected prices in services

- Source: INSEE
In November 2023, the balance of opinion on the change in the workforce size over the last three months has rebounded but remains below its average. Conversely, the one on the expected workforce size over the next three months has fallen back sharply and has moved below its own.
tableauEconomic outlook in the services sector
Average* | Aug. 2023 | Sept. 2023 | Oct. 2023 | Nov. 2023 | |
---|---|---|---|---|---|
Composite indicator | 100 | 102 | 101 | 100 | 100 |
General outlook | -7 | -5 | -5 | -9 | -9 |
Past activity | 2 | -1 | -1 | -1 | 0 |
Expected activity | 2 | 2 | 3 | 2 | 1 |
Expected demand | 0 | 4 | 1 | -1 | 0 |
Past selling prices | -3 | 8 | 8 | 5 | 6 |
Expected selling prices | -2 | 7 | 9 | 5 | 4 |
Past employment | 2 | -2 | -2 | -4 | -2 |
Past employment except temporary work agencies | 0 | -2 | -1 | -3 | -1 |
Expected employment | 2 | 0 | 4 | 6 | 0 |
Expected employment except temporary work agencies | 0 | -2 | 3 | 2 | -2 |
Economic uncertainty felt** | 12 | 12 | 11 | 14 | 12 |
- * Average since 1989 for the composite indicator and since 1988 for the balances of opinion, except general outlook (June 2000) and uncertainty (April 2021)
- ** Balance of opinion not seasonally adjusted
- Source: INSEE, monthly business survey in services.
The business climate has deteriorated sharply in road freight transport
In November 2023, the business climate in road freight transport has deteriorated markedly. It has moved away from its long-term average and has reached its lowest level since May 2020. In particular, the balance of opinion on the general business outlook and those on the past and expected activity have declined sharply again.
In professional, scientific and technical activities, the business climate indicator has decreased again and has moved away from its average. The balances of opinion on the past and expected activity and the one on the expected demand have contributed to this decline.
In accommodation and food service activities, the business climate indicator has diminished slightly. The balances of opinion on the general business outlook, on the past and expected activity and on the expected workforce size have decreased. Conversely, the one on the past workforce size has sharply rebounded and has moved above its long-term average.
In administrative and support service activities, the business climate is stable at the level of its average. The balance of the expected demand has rebounded and has moved just above its average. Conversely, the one on the past activity and those on the workforce size, past and expected, have diminished.
In real estate activities, the business climate has improved slightly but remains well below its long-term average. The balances of opinion on the general business outlook, on the past and expected activity have contributed to this increase, although all three remain well below their average.
Finally, in information and communication, the business climate has improved slightly again and has moved away from its average. The balances of opinion on the expected demand and on the past and expected activity have risen again and stand well above their average.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
Aggregated classification (NA 2008) at level A21 | Average* | Aug. 2023 | Sept. 2023 | Oct. 2023 | Nov. 2023 |
---|---|---|---|---|---|
Road freight transport (8%) | |||||
Composite indicator | 100 | 93 | 96 | 92 | 87 |
General outlook | -18 | -28 | -27 | -31 | -39 |
Past activity | -6 | -30 | -21 | -28 | -36 |
Expected activity | -7 | -18 | -13 | -15 | -33 |
Expected demand | -9 | -26 | -15 | -31 | -32 |
Past employment | -5 | -3 | -9 | -9 | -9 |
Expected employment | -6 | -4 | -5 | -11 | -11 |
Accommodation and food service activities (8%) | |||||
Composite indicator | 100 | 103 | 101 | 99 | 98 |
General outlook | -13 | -4 | -10 | -17 | -18 |
Past activity | -7 | -14 | -10 | -14 | -22 |
Expected activity | -7 | -19 | 0 | -9 | -12 |
Expected demand | -9 | 3 | -15 | -11 | -9 |
Past employment | -5 | 0 | 3 | -6 | 5 |
Expected employment | -6 | -7 | -5 | -1 | -4 |
Information and communication (29%) | |||||
Composite indicator | 100 | 104 | 102 | 104 | 105 |
General outlook | 0 | 7 | 2 | 1 | 3 |
Past activity | 8 | 13 | 11 | 19 | 27 |
Expected activity | 9 | 18 | 9 | 19 | 23 |
Expected demand | 9 | 26 | 11 | 15 | 19 |
Past employment | 6 | 6 | 11 | 7 | 3 |
Expected employment | 10 | 2 | 7 | 11 | 4 |
Real estate activities (10%) | |||||
Composite indicator | 100 | 86 | 87 | 85 | 87 |
General outlook | -4 | -16 | -13 | -16 | -13 |
Past activity | 6 | -4 | -4 | -9 | -6 |
Expected activity | 6 | -6 | -8 | -9 | -4 |
Expected demand | 1 | -7 | -7 | -6 | -8 |
Past employment | 3 | -9 | -8 | -3 | -2 |
Expected employment | 3 | -5 | 2 | 1 | -6 |
Professional, scientific and technical activities (25%) | |||||
Composite indicator | 100 | 102 | 101 | 98 | 95 |
General outlook | -8 | -4 | -4 | -9 | -10 |
Past activity | -1 | -1 | -2 | -4 | -11 |
Expected activity | -2 | -3 | -5 | -7 | -11 |
Expected demand | -5 | -7 | -7 | -8 | -14 |
Past employment | 1 | 4 | 1 | 0 | -4 |
Expected employment | 1 | 4 | 6 | 1 | -1 |
Administrative and support service activities (18%) | |||||
Composite indicator | 100 | 103 | 105 | 100 | 100 |
General outlook | -3 | 2 | 3 | -3 | -1 |
Past activity | 5 | 7 | 7 | 1 | -2 |
Expected activity | 5 | 6 | 12 | 4 | 3 |
Expected demand | 3 | 7 | 9 | 1 | 4 |
Past employment | 7 | -2 | 0 | -5 | -8 |
Expected employment | 7 | -3 | 9 | 9 | 6 |
- The figures in parentheses indicate the weights used to aggregate the sub-sector balances of opinion. The “other services” sub-sector is not displayed due to its low weight.
- *Composite indicator: average since 1989 (2006 for road transport); balances of opinion: average since 1988, except general outlook since June 2000 (2006 for road transport)
- Source: INSEE, monthly business survey in services.
Revision
The business climate indicator in services of October 2023 has not been revised (after rounding).
For further information
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.
This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.
The responses to this survey were collected between 26 October and 20 November 2023.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 December 2023 at 8:45 am.
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
Pour en savoir plus
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.
This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.
The responses to this survey were collected between 26 October and 20 November 2023.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 21 December 2023 at 8:45 am.