Informations Rapides · 25 April 2025 · n° 98
In April 2025, the business climate in France remains gloomy Business indicator - April 2025

In April 2025, the business climate in France remains gloomy. At 96, the indicator that synthesizes it, calculated from the responses of the business managers from the main market sectors, has lost one point (after rounding), staying below its long term average (100). The business climate has rebounded in manufacturing industry and services, has diminished in building construction and has strongly retreated in retail trade.

Informations rapides

N^o 98

Paru le :Paru le25/04/2025

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

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Sommaire

In April 2025, the business climate indicator is almost stable
The employment climate indicator has slightly increased again
Revisions
For further information

In April 2025, the business climate indicator is almost stable

Graphique
Tableau

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tableauFrench business climate composite indicator

French business climate composite indicator
	French business climate composite indicator
2025-04	96.4
2025-03	96.6
2025-02	95.7
2025-01	95.1
2024-12	94.5
2024-11	96.1
2024-10	97.5
2024-09	98.0
2024-08	96.8
2024-07	93.9
2024-06	99.2
2024-05	99.6
2024-04	99.3
2024-03	100.0
2024-02	98.6
2024-01	98.9
2023-12	98.4
2023-11	98.0
2023-10	98.9
2023-09	100.3
2023-08	100.0
2023-07	100.2
2023-06	100.5
2023-05	100.4
2023-04	102.7
2023-03	102.9
2023-02	103.2
2023-01	102.2
2022-12	102.6
2022-11	102.4
2022-10	102.8
2022-09	102.6
2022-08	104.0
2022-07	103.5
2022-06	104.8
2022-05	106.4
2022-04	106.5
2022-03	107.2
2022-02	113.3
2022-01	108.2
2021-12	109.6
2021-11	114.2
2021-10	113.5
2021-09	111.7
2021-08	110.7
2021-07	113.1
2021-06	114.7
2021-05	110.1
2021-04	96.2
2021-03	97.8
2021-02	90.9
2021-01	93.7
2020-12	92.4
2020-11	77.8
2020-10	90.2
2020-09	93.8
2020-08	94.2
2020-07	91.0
2020-06	84.6
2020-05	59.4
2020-04	47.0
2020-03	93.9
2020-02	105.9
2020-01	106.3
2019-12	106.1
2019-11	106.4
2019-10	106.5
2019-09	107.0
2019-08	105.9
2019-07	106.0
2019-06	106.6
2019-05	106.7
2019-04	106.7
2019-03	106.0
2019-02	104.7
2019-01	104.2
2018-12	103.6
2018-11	106.6
2018-10	106.5
2018-09	107.6
2018-08	108.0
2018-07	108.6
2018-06	109.2
2018-05	109.4
2018-04	111.0
2018-03	111.7
2018-02	111.9
2018-01	112.8
2017-12	113.3
2017-11	111.8
2017-10	111.0
2017-09	111.1
2017-08	110.9
2017-07	109.8
2017-06	108.9
2017-05	107.6
2017-04	107.0
2017-03	106.7
2017-02	106.9
2017-01	106.3
2016-12	106.1
2016-11	103.7
2016-10	103.8
2016-09	103.6
2016-08	103.5
2016-07	103.9
2016-06	103.0
2016-05	104.4
2016-04	102.4
2016-03	103.0
2016-02	103.0
2016-01	104.1
2015-12	101.6
2015-11	102.9
2015-10	103.0
2015-09	102.1
2015-08	102.8
2015-07	101.1
2015-06	100.7
2015-05	99.4
2015-04	98.3
2015-03	96.9
2015-02	95.8
2015-01	94.7
2014-12	93.9
2014-11	93.8
2014-10	91.9
2014-09	91.9
2014-08	92.9
2014-07	94.4
2014-06	95.0
2014-05	95.6
2014-04	96.2
2014-03	96.2
2014-02	95.0
2014-01	95.5
2013-12	94.2
2013-11	94.7
2013-10	95.4
2013-09	95.5
2013-08	91.8
2013-07	88.5
2013-06	86.7
2013-05	85.5
2013-04	84.5
2013-03	85.9
2013-02	88.0
2013-01	87.9
2012-12	88.4
2012-11	87.7
2012-10	86.4
2012-09	88.1
2012-08	89.6
2012-07	90.7
2012-06	91.8
2012-05	92.9
2012-04	97.2
2012-03	95.5
2012-02	93.0
2012-01	93.1
2011-12	94.6
2011-11	95.5
2011-10	97.6
2011-09	98.7
2011-08	101.5
2011-07	106.4
2011-06	107.8
2011-05	108.1
2011-04	108.8
2011-03	109.6
2011-02	109.0
2011-01	107.8
2010-12	106.9
2010-11	105.3
2010-10	104.5
2010-09	102.7
2010-08	100.6
2010-07	98.6
2010-06	96.6
2010-05	97.2
2010-04	95.9
2010-03	92.2
2010-02	92.8
2010-01	92.2
2009-12	90.6
2009-11	90.4
2009-10	88.6
2009-09	85.8
2009-08	82.9
2009-07	79.7
2009-06	77.7
2009-05	74.2
2009-04	71.3
2009-03	69.4
2009-02	73.4
2009-01	74.9
2008-12	76.7
2008-11	79.5
2008-10	83.3
2008-09	92.6
2008-08	94.9
2008-07	96.5
2008-06	100.1
2008-05	103.3
2008-04	106.1
2008-03	108.2
2008-02	108.3
2008-01	109.6
2007-12	110.1
2007-11	110.4
2007-10	109.9
2007-09	111.3
2007-08	111.9
2007-07	112.9
2007-06	113.7
2007-05	112.7
2007-04	112.5
2007-03	111.9
2007-02	111.5
2007-01	109.8
2006-12	109.7
2006-11	111.2
2006-10	109.6
2006-09	109.4
2006-08	108.8
2006-07	108.3
2006-06	106.3
2006-05	106.7
2006-04	104.8
2006-03	104.3
2006-02	103.9
2006-01	106.2
2005-12	104.8
2005-11	103.2
2005-10	103.7
2005-09	100.8
2005-08	101.5
2005-07	101.6
2005-06	101.9
2005-05	101.0
2005-04	103.5
2005-03	104.4
2005-02	104.3
2005-01	104.0

graphiqueFrench business climate composite indicator

In April 2025, the business climate has sharply rebounded in manufacturing industry. At 99, the synthetic indicator has won three points and has moved closer to its long term average (100). This rise in the climate results from nearly all the balances of opinion contributing to its calculation, except for general production prospects and the current level of finished-goods inventories.

In services, the business climate has slightly rebounded. At 98, the indicator that synthetizes it has won one point but stands below its long term average (100). The balance on past activity has improved, whereas the ones related to business outlook are almost stable.

In building construction, the business climate has slightly diminished. At 97, the indicator that synthetizes it has lost one point and remains below its long-term average (100). All balances constituting the climate have deteriorated, business managers being notably more pessimistic than in March about their activity prospects.

Lastly, the business climate has strongly retreated in retail trade (including trade and repair of vehicles). At 95 the indicator that synthetizes it has lost five points and stands below its long term average (100). This drop is mainly due to the decline in the balances related to the general business outlook and the ordering intentions.

tableauBusiness and employment climates

Business and employment climates
	Dec. 24	Jan. 25	Feb. 25	Mar. 25	Apr. 25
Business climates
France	94	95	96	97	96
Manufacturing industry	97	96	97	96	99
Building construction	98	99	98	98	97
Services	96	96	98	97	98
Retail trade*	97	97	97	100	95
Wholesale trade		93		95

Employment	96	98	93	96	97

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

The employment climate indicator has slightly increased again

In April 2025, the employment climate indicator has won one point (after rounding). At 97, it however stands below its long-term average (100) for the eleventh consecutive month. This improvement is mainly due to the increase in the balance on future workforce size in services (including temporary work agencies).

Graphique
Tableau

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tableauFrench employment climate composite indicator

French employment climate composite indicator
	French employment climate composite indicator
2025-04	96.5
2025-03	95.9
2025-02	93.3
2025-01	97.7
2024-12	96.5
2024-11	98.3
2024-10	97.0
2024-09	99.4
2024-08	97.6
2024-07	95.8
2024-06	99.6
2024-05	102.4
2024-04	100.9
2024-03	100.4
2024-02	101.8
2024-01	99.3
2023-12	100.6
2023-11	99.8
2023-10	102.2
2023-09	104.7
2023-08	101.4
2023-07	105.5
2023-06	106.2
2023-05	106.7
2023-04	109.1
2023-03	109.5
2023-02	110.0
2023-01	112.5
2022-12	110.6
2022-11	108.6
2022-10	107.9
2022-09	109.2
2022-08	108.2
2022-07	110.5
2022-06	108.2
2022-05	110.4
2022-04	111.2
2022-03	112.9
2022-02	113.9
2022-01	110.6
2021-12	108.9
2021-11	113.5
2021-10	110.5
2021-09	107.6
2021-08	109.1
2021-07	108.6
2021-06	107.3
2021-05	101.1
2021-04	91.2
2021-03	90.5
2021-02	84.0
2021-01	86.4
2020-12	83.7
2020-11	80.6
2020-10	87.9
2020-09	92.8
2020-08	89.2
2020-07	79.3
2020-06	69.8
2020-05	49.6
2020-04	40.9
2020-03	97.0
2020-02	106.0
2020-01	106.0
2019-12	107.4
2019-11	108.1
2019-10	106.6
2019-09	107.9
2019-08	107.6
2019-07	107.2
2019-06	108.0
2019-05	105.3
2019-04	107.1
2019-03	107.7
2019-02	107.3
2019-01	106.6
2018-12	104.5
2018-11	105.1
2018-10	106.7
2018-09	107.5
2018-08	108.0
2018-07	108.3
2018-06	109.6
2018-05	109.5
2018-04	108.8
2018-03	109.4
2018-02	109.5
2018-01	109.2
2017-12	108.3
2017-11	107.0
2017-10	107.9
2017-09	106.8
2017-08	105.1
2017-07	106.9
2017-06	107.5
2017-05	107.0
2017-04	106.6
2017-03	107.0
2017-02	104.6
2017-01	105.6
2016-12	106.2
2016-11	105.4
2016-10	104.7
2016-09	105.0
2016-08	102.3
2016-07	104.6
2016-06	100.9
2016-05	101.5
2016-04	99.5
2016-03	99.1
2016-02	100.3
2016-01	101.2
2015-12	100.4
2015-11	101.2
2015-10	99.4
2015-09	99.5
2015-08	100.0
2015-07	99.1
2015-06	98.7
2015-05	96.6
2015-04	96.5
2015-03	94.5
2015-02	95.0
2015-01	93.1
2014-12	94.0
2014-11	93.5
2014-10	93.5
2014-09	93.6
2014-08	93.4
2014-07	94.5
2014-06	94.6
2014-05	96.1
2014-04	96.8
2014-03	95.0
2014-02	93.5
2014-01	94.0
2013-12	93.6
2013-11	92.8
2013-10	93.6
2013-09	91.0
2013-08	90.4
2013-07	89.5
2013-06	88.5
2013-05	85.0
2013-04	86.4
2013-03	88.2
2013-02	88.9
2013-01	91.7
2012-12	89.3
2012-11	89.6
2012-10	91.3
2012-09	91.4
2012-08	93.0
2012-07	92.1
2012-06	93.4
2012-05	94.4
2012-04	97.7
2012-03	98.2
2012-02	97.2
2012-01	97.5
2011-12	98.3
2011-11	100.3
2011-10	99.4
2011-09	103.5
2011-08	105.0
2011-07	109.5
2011-06	110.9
2011-05	111.0
2011-04	108.8
2011-03	108.8
2011-02	110.4
2011-01	102.7
2010-12	105.4
2010-11	104.0
2010-10	102.7
2010-09	99.7
2010-08	98.2
2010-07	97.5
2010-06	97.5
2010-05	96.5
2010-04	95.1
2010-03	93.1
2010-02	90.7
2010-01	90.1
2009-12	88.6
2009-11	86.8
2009-10	84.5
2009-09	83.0
2009-08	84.3
2009-07	79.3
2009-06	75.3
2009-05	74.3
2009-04	74.8
2009-03	74.6
2009-02	79.1
2009-01	81.0
2008-12	84.1
2008-11	88.5
2008-10	95.7
2008-09	100.2
2008-08	101.2
2008-07	106.7
2008-06	104.5
2008-05	108.6
2008-04	112.9
2008-03	112.7
2008-02	114.2
2008-01	114.5
2007-12	114.5
2007-11	113.7
2007-10	112.4
2007-09	114.0
2007-08	113.4
2007-07	111.6
2007-06	113.5
2007-05	114.5
2007-04	111.9
2007-03	111.4
2007-02	112.1
2007-01	109.7
2006-12	111.9
2006-11	111.2
2006-10	109.8
2006-09	108.7
2006-08	109.9
2006-07	110.5
2006-06	111.4
2006-05	108.8
2006-04	108.3
2006-03	105.8
2006-02	105.0
2006-01	105.0
2005-12	103.4
2005-11	104.0
2005-10	104.0
2005-09	104.1
2005-08	104.0
2005-07	103.6
2005-06	103.0
2005-05	103.9
2005-04	103.5
2005-03	105.8
2005-02	103.3
2005-01	103.3

graphiqueFrench employment climate composite indicator

Revisions

The business climate in services for March 2025 has been revised downwards by one point (after rounding). This revision is mainly due to the inclusion of late responses from companies. The other synthetic indicators of climate have not been revised (after rounding).

For further information

The business climate indicator summarises the information provided by the business tendency surveys in manufacturing, services, trade (retail and wholesale) and building construction. It is built from the 30 balances of opinion used in the build of the sectoral climates according to a dynamic approach, in order to include the bimonthly indicators of wholesale trade.

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 27 March and 22 April 2025; most companies answer during the first two weeks of collection.

Next issue: 22 May 2025 at 08:45 am.