Insee
Informations Rapides · 22 May 2025 · n° 128
Informations rapidesIn May 2025, the business climate has partially rebounded in retail trade and in trade and repair of motor vehicles Monthly survey of retailing - May 2025

In May 2025, the business climate has partially rebounded in retail trade and trade and repair of motor vehicles overall. At 98, the indicator that synthesizes it has gained three points, after losing five points last month, and remains below its long-term average (100). This rise is mainly due to the increase in the balances related to the general business outlook and the expected change in the workforce size.

Informations rapides
No 128
Paru le :Paru le22/05/2025
Prochaine parution le : 20/06/2025 at 08:45 - June 2025

In May 2025, the business climate has partially rebounded in retail trade and trade and repair of motor vehicles overall. At 98, the indicator that synthesizes it has gained three points, after losing five points last month, and remains below its long-term average (100). This rise is mainly due to the increase in the balances related to the general business outlook and the expected change in the workforce size.

Composite indicator

Composite indicator
Business climate synthetic indicator
2025-05 97.7
2025-04 95.1
2025-03 100.0
2025-02 97.2
2025-01 96.8
2024-12 96.6
2024-11 98.4
2024-10 99.3
2024-09 100.1
2024-08 97.3
2024-07 94.1
2024-06 99.4
2024-05 100.9
2024-04 102.2
2024-03 101.4
2024-02 100.5
2024-01 104.1
2023-12 99.9
2023-11 97.1
2023-10 98.4
2023-09 102.7
2023-08 103.2
2023-07 104.4
2023-06 101.4
2023-05 98.0
2023-04 100.7
2023-03 98.0
2023-02 101.3
2023-01 99.9
2022-12 99.4
2022-11 96.8
2022-10 98.0
2022-09 96.5
2022-08 97.6
2022-07 94.5
2022-06 94.1
2022-05 95.4
2022-04 91.3
2022-03 99.6
2022-02 107.1
2022-01 104.8
2021-12 107.7
2021-11 109.2
2021-10 106.8
2021-09 108.1
2021-08 108.8
2021-07 114.2
2021-06 115.7
2021-05 108.3
2021-04 91.8
2021-03 96.7
2021-02 89.9
2021-01 94.0
2020-12 93.7
2020-11 70.5
2020-10 98.4
2020-09 98.1
2020-08 94.5
2020-07 90.0
2020-06 85.4
2020-05 60.6
2020-04 57.5
2020-03 93.2
2020-02 107.7
2020-01 106.8
2019-12 109.2
2019-11 107.0
2019-10 106.7
2019-09 107.3
2019-08 100.4
2019-07 106.6
2019-06 104.1
2019-05 105.2
2019-04 108.4
2019-03 104.6
2019-02 103.3
2019-01 101.5
2018-12 99.7
2018-11 107.2
2018-10 107.3
2018-09 110.4
2018-08 113.8
2018-07 114.9
2018-06 113.4
2018-05 113.6
2018-04 114.0
2018-03 114.1
2018-02 117.0
2018-01 117.1
2017-12 116.8
2017-11 116.4
2017-10 117.3
2017-09 113.8
2017-08 111.4
2017-07 112.3
2017-06 111.5
2017-05 107.3
2017-04 105.9
2017-03 108.3
2017-02 108.0
2017-01 109.3
2016-12 108.6
2016-11 103.3
2016-10 102.1
2016-09 103.1
2016-08 104.9
2016-07 104.7
2016-06 104.3
2016-05 106.5
2016-04 103.1
2016-03 104.2
2016-02 102.7
2016-01 104.4
2015-12 101.8
2015-11 105.5
2015-10 108.8
2015-09 106.3
2015-08 107.1
2015-07 103.4
2015-06 104.6
2015-05 103.4
2015-04 103.5
2015-03 102.5
2015-02 102.5
2015-01 99.1
2014-12 94.4
2014-11 92.8
2014-10 89.1
2014-09 88.3
2014-08 90.4
2014-07 96.9
2014-06 94.6
2014-05 96.4
2014-04 96.5
2014-03 95.4
2014-02 94.6
2014-01 95.2
2013-12 93.9
2013-11 92.0
2013-10 95.4
2013-09 97.9
2013-08 93.4
2013-07 85.0
2013-06 84.9
2013-05 83.2
2013-04 84.3
2013-03 86.3
2013-02 89.6
2013-01 84.6
2012-12 87.8
2012-11 88.1
2012-10 87.2
2012-09 85.6
2012-08 91.0
2012-07 89.2
2012-06 93.1
2012-05 90.8
2012-04 96.0
2012-03 93.2
2012-02 90.6
2012-01 87.9
2011-12 92.9
2011-11 93.9
2011-10 94.6
2011-09 93.9
2011-08 98.3
2011-07 101.4
2011-06 102.1
2011-05 104.1
2011-04 103.3
2011-03 103.9
2011-02 106.8
2011-01 107.0
2010-12 108.2
2010-11 104.5
2010-10 107.9
2010-09 106.2
2010-08 106.6
2010-07 101.2
2010-06 101.3
2010-05 102.0
2010-04 103.4
2010-03 97.9
2010-02 98.7
2010-01 98.2
2009-12 96.5
2009-11 98.3
2009-10 92.7
2009-09 90.3
2009-08 87.2
2009-07 85.9
2009-06 79.2
2009-05 80.1
2009-04 75.0
2009-03 82.5
2009-02 78.0
2009-01 77.0
2008-12 75.7
2008-11 84.1
2008-10 80.3
2008-09 96.7
2008-08 93.0
2008-07 95.4
2008-06 99.7
2008-05 103.5
2008-04 103.7
2008-03 110.1
2008-02 109.2
2008-01 110.5
2007-12 115.1
2007-11 113.1
2007-10 111.8
2007-09 112.1
2007-08 115.6
2007-07 117.7
2007-06 121.2
2007-05 115.0
2007-04 113.8
2007-03 111.5
2007-02 112.9
2007-01 108.0
2006-12 108.7
2006-11 111.2
2006-10 112.0
2006-09 110.6
2006-08 110.0
2006-07 108.3
2006-06 107.9
2006-05 105.5
2006-04 103.8
2006-03 102.4
2006-02 102.8
2006-01 103.2
2005-12 104.3
2005-11 99.7
2005-10 102.0
2005-09 99.4
2005-08 97.9
2005-07 95.9
2005-06 98.1
2005-05 101.4
2005-04 103.8
2005-03 104.4
2005-02 103.9
2005-01 106.2

Composite indicator

  • Source: INSEE.

The balances of opinion related to the general business outlook and to the expected change in the workforce size have rebounded

In May 2025, the balance related to the general business outlook has rebounded and has moved above its long-term average. The balance on the ordering intentions has diminished again and has moved away from its own. The balance on the past sales has sharply rebounded and has moved closer to its long-term average. The one on the expected sales has slightly increased and has moved also closer to its own.

The balances of opinion associated with the expected and past changes in the workforce size have rebounded, sharply for the former, and have moved closer to their long-term average.

The bimonthly balance on the cash position has increased a little after two two-month periods in a row of decrease and has moved closer to its long-term average.

The balance associated with the current level of stocks has decreased again and has moved closer to its average.

The balance of opinion on the expected selling prices has diminished and has moved closer to its average. The bimonthly one on the past selling prices has retreated and has reached its average.

Lastly, the balance on the felt economic uncertainty is stable.

Tendency in retail trade and in trade and repair of motor vehicles

Balances of opinion, in %, S.A.
Tendency in retail trade and in trade and repair of motor vehicles (Balances of opinion, in %, S.A.)
Ave. (1) Feb. 25 Mar. 25 Apr. 25 May 25
Business climate 100 97 100 95 98
General business outlook -27 -27 -22 -29 -26
Recent sales -9 -21 -16 -21 -15
Expected sales -4 -9 -7 -11 -10
Ordering intentions -9 -10 -7 -11 -12
Stocks 10 13 15 14 13
Past selling prices (2) -3 - 2 - -3
Expected selling prices 0 0 3 3 2
Cash position (2) -15 - -23 - -21
Past workforce size -1 -9 -9 -11 -8
Expected workforce size -4 -8 -11 -12 -6
Economic uncertainty felt (3) 37 33 34 36 36
  • (1) Average since 1991 (except 2004 for recent and expected sales and ordering intentions, and April 2021 for uncertainty felt).
  • (2) Bimonthly question (odd-numbered months).
  • (3) Non-seasonally adjusted balance.
  • Source: INSEE - monthly survey in retail trade and in trade and repair of motor vehicles.

Recent sales and ordering intentions

Recent sales and ordering intentions
Ordering intentions Recent sales
2025-05 -11.5 -15.1
2025-04 -11.2 -21.2
2025-03 -6.6 -15.6
2025-02 -10.1 -20.5
2025-01 -13.5 -8.1
2024-12 -10.8 -14.1
2024-11 -12.7 -7.3
2024-10 -10.1 -12.6
2024-09 -11.3 -9.3
2024-08 -11.9 -15.1
2024-07 -15.4 -18.2
2024-06 -8.6 -15.3
2024-05 -9.2 -10.4
2024-04 -8.1 -5.3
2024-03 -8.4 -9.8
2024-02 -7.6 -13.5
2024-01 -6.4 -0.9
2023-12 -12.4 -11.9
2023-11 -14.8 -14.5
2023-10 -12.4 -5.4
2023-09 -8.3 1.0
2023-08 -10.9 6.0
2023-07 -8.5 -1.3
2023-06 -8.8 -8.1
2023-05 -13.6 -5.6
2023-04 -10.3 -1.1
2023-03 -14.5 -4.6
2023-02 -9.1 -1.4
2023-01 -12.0 5.9
2022-12 -9.5 -0.7
2022-11 -15.4 2.0
2022-10 -9.9 -3.1
2022-09 -14.6 -5.6
2022-08 -10.5 -12.7
2022-07 -10.6 -20.3
2022-06 -13.0 -15.6
2022-05 -12.4 -13.0
2022-04 -17.8 -18.4
2022-03 -4.6 -11.3
2022-02 -2.0 -7.3
2022-01 -3.5 -5.0
2021-12 -1.1 -5.7
2021-11 -0.5 -11.3
2021-10 -5.1 -18.1
2021-09 -2.5 -11.8
2021-08 0.0 10.7
2021-07 3.5 0.5
2021-06 0.8 -1.5
2021-05 -5.1 -10.8
2021-04 -14.3 -7.1
2021-03 -8.1 -15.3
2021-02 -14.5 -14.3
2021-01 -13.5 -5.4
2020-12 -11.1 -21.4
2020-11 -36.8 7.6
2020-10 -0.5 -2.6
2020-09 -6.2 6.0
2020-08 -8.5 -10.2
2020-07 -7.8 -41.8
2020-06 -13.6 -47.8
2020-05 -44.9 -56.3
2020-04 -54.6 -3.9
2020-03 -12.4 -3.6
2020-02 -0.1 1.3
2020-01 -3.2 10.8
2019-12 1.2 -1.4
2019-11 -1.2 -5.8
2019-10 -3.2 -6.6
2019-09 -3.0 0.4
2019-08 -13.3 -5.2
2019-07 -2.6 -3.7
2019-06 -7.6 -9.1
2019-05 -4.4 -10.9
2019-04 2.3 -12.9
2019-03 -2.7 -17.4
2019-02 -5.9 -10.3
2019-01 -7.0 -9.4
2018-12 -6.0 -8.9
2018-11 -0.9 -6.7
2018-10 -2.4 -8.3
2018-09 1.9 1.9
2018-08 7.7 0.3
2018-07 6.6 -2.1
2018-06 5.6 -8.7
2018-05 4.4 -6.8
2018-04 3.8 -9.9
2018-03 1.8 -7.9
2018-02 4.2 4.7
2018-01 5.5 1.6
2017-12 5.4 1.5
2017-11 7.6 -4.9
2017-10 9.8 -0.5
2017-09 2.3 -1.6
2017-08 -0.8 -1.0
2017-07 -1.4 5.5
2017-06 -1.0 -5.9
2017-05 -3.2 -5.5
2017-04 -3.5 -11.9
2017-03 0.2 -1.8
2017-02 -0.4 4.2
2017-01 1.5 1.0
2016-12 -0.1 -1.2
2016-11 -9.2 -6.3
2016-10 -8.2 -10.7
2016-09 -6.1 -10.5
2016-08 -3.9 -4.1
2016-07 -5.1 -5.1
2016-06 -3.7 -4.0
2016-05 -3.8 4.8
2016-04 -8.7 1.5
2016-03 -3.5 -5.2
2016-02 -6.8 -9.2
2016-01 -6.1 -4.9
2015-12 -5.2 -15.3
2015-11 -3.5 3.0
2015-10 0.3 4.4
2015-09 -2.6 1.6
2015-08 -1.5 8.0
2015-07 -6.3 -0.6
2015-06 -1.3 -8.3
2015-05 -3.0 -4.4
2015-04 -2.2 -2.6
2015-03 -3.3 -5.4
2015-02 -1.9 -4.3
2015-01 -4.9 -8.6
2014-12 -12.7 -10.2
2014-11 -13.6 -14.7
2014-10 -16.8 -23.7
2014-09 -18.4 -30.6
2014-08 -17.3 -19.8
2014-07 -10.3 -5.9
2014-06 -13.8 -11.9
2014-05 -11.3 -14.8
2014-04 -9.6 -21.3
2014-03 -11.1 -16.9
2014-02 -13.3 -13.1
2014-01 -12.7 -10.7
2013-12 -15.2 -10.6
2013-11 -13.5 -12.9
2013-10 -13.4 -11.5
2013-09 -7.5 -12.8
2013-08 -13.4 -18.3
2013-07 -23.1 -26.0
2013-06 -19.4 -24.4
2013-05 -21.7 -29.8
2013-04 -19.6 -31.8
2013-03 -17.1 -25.9
2013-02 -14.0 -27.2
2013-01 -25.5 -17.3
2012-12 -17.7 -21.2
2012-11 -18.5 -16.4
2012-10 -19.3 -23.0
2012-09 -21.7 -23.8
2012-08 -15.1 -8.3
2012-07 -15.4 -19.5
2012-06 -12.9 -18.3
2012-05 -16.8 -14.8
2012-04 -13.7 -8.1
2012-03 -16.0 -12.3
2012-02 -15.4 -15.4
2012-01 -19.9 -20.3
2011-12 -13.9 -17.5
2011-11 -12.6 -13.0
2011-10 -13.5 -15.7
2011-09 -13.1 -17.4
2011-08 -11.3 -6.5
2011-07 -11.6 -9.4
2011-06 -11.4 0.1
2011-05 -7.9 3.6
2011-04 -7.2 1.7
2011-03 -5.8 -6.4
2011-02 -2.4 1.6
2011-01 -1.8 4.3
2010-12 -1.3 4.1
2010-11 -4.9 -8.0
2010-10 1.3 -3.9
2010-09 -2.3 -1.8
2010-08 -1.6 4.0
2010-07 -7.9 -5.3
2010-06 -4.7 -1.0
2010-05 -7.0 2.1
2010-04 -4.5 -2.7
2010-03 -10.0 -20.1
2010-02 -9.9 -13.0
2010-01 -13.4 -4.7

Recent sales and ordering intentions

  • Source: INSEE.

The general business outlook has improved more in retail trade (excluding motor vehicles) than in trade and repair of motor vehicles

In May 2025, the balance associated with the general business outlook has sharply rebounded in retail trade (excluding motor vehicles) and has moved above its average. In trade and repair of motor vehicles, it has slightly rebounded but remains below its own.

The balance associated with the past sales has strongly rebounded in retail trade (excluding motor vehicles) where it has reached its average, while it has diminished again sharply in trade and repair of motor vehicles, where it has moved away from its own.

The balance associated with the expected change in the workforce size has strongly rebounded in retail trade (excluding motor vehicles) and has moved closer to its average. In trade and repair of motor vehicles, it has increased again and has moved away from its own.

Balances of opinion by sub-sector in retail trade and trade and repair of motor vehicles

Balances of opinion, in %, S.A.
Balances of opinion by sub-sector in retail trade and trade and repair of motor vehicles (Balances of opinion, in %, S.A.)
Ave. (1) Feb. 25 Mar. 25 Apr. 25 May 25
Retail trade
General business outlook -28 -27 -21 -28 -24
Recent sales -8 -18 -15 -19 -8
Expected sales -2 -7 -2 -7 -2
Ordering intentions -9 -5 -1 -8 -5
Stocks 10 11 12 12 12
Past selling prices (2) -5 - 6 - 0
Expected selling prices -2 4 9 7 5
Cash position (2) -14 - -23 - -20
Past workforce size 0 -12 -10 -12 -10
Expected workforce size -4 -9 -13 -15 -7
Economic uncertainty felt (3) 35 33 34 36 35
Trade and repair of motor vehicles
General business outlook -25 -29 -24 -33 -32
Recent sales -10 -25 -16 -25 -29
Expected sales -8 -15 -18 -20 -24
Ordering intentions -11 -20 -17 -18 -23
Stocks 12 18 19 17 14
Past selling prices (2) 4 - -4 - -7
Expected selling prices 6 -8 -8 -5 -3
Cash position (2) -21 - -22 - -23
Past workforce size -7 0 -6 -5 -2
Expected workforce size -5 -4 -6 -4 -1
Economic uncertainty felt (3) 40 32 34 35 38
  • (1) Average since 1991 for retail trade and 2003 for trade and repair of motor vehicles (except 2004 for recent and expected sales and ordering intentions, and April 2021 for uncertainty felt).
  • (2) Bimonthly question (odd-numbered months).
  • (3) Non-seasonally adjusted balance.
  • Source: INSEE - monthly survey in retail trade and in trade and repair of motor vehicles.

Revisions

The business climate for April 2025 in retail trade (including trade and repair of motor vehicles) has not been revised (after rounding).

For more information

The whole sector “retail trade and trade and repair of motor vehicles” is composed for 66% of retail trade and for 34% of trade and repair of motor vehicles.

For the three-modality questions, a balance of opinion is the difference between weighted percentage of “increase” or “above normal” answers and weighted percentage of “decrease” or “below normal” answers.

This survey is part of the Joint Harmonised EU Programme of Business and Consumer Surveys, partly funded by the European Commission.

The responses of this survey were collected between 28 April and 19 May 2025; most companies answer during the first two weeks of collection.

Next issue: 20 June 2025 at 8:45 am.

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