Informations Rapides · 22 May 2025 · n° 125

In May 2025, the business climate in wholesale trade has slightly improved Bimonthly survey of wholesaling - May 2025

According to the business managers surveyed in May 2025, the bimonthly business climate in wholesale trade has slightly improved again. At 95, the composite indicator has gained one point (after rounding) but remains below its long-term average (100). The balances of opinion on the past sales have improved, while the balances on the received merchandise have deteriorated.

In May 2025, the balance of opinion of wholesalers regarding the past sales has increased again and has moved closer to its long-term average; the one on the past export sales has rebounded and has also moved closer to its average. The increase in the past sales is particularly noticeable in the wholesale of raw agricultural products and live animals, in the one of household goods and in the one of information and communication equipment.

The balance on the ordering intentions is stable at its average level. It has rebounded sharply in the wholesale trade of raw agricultural products and live animals but has diminished again in that of other industrial capital goods where it has dropped to its lowest since March 2010 (excluding health crisis).

The balance on the general business outlook is stable, below its average.

Finally, the balance on the merchandise received from abroad has retreated a little and has moved away from its own.

In May 2025, the balance of opinion of wholesalers on the past selling prices has diminished again sharply and has moved away from its long-term average. The one on the expected selling prices has retreated and remains, for two years, below its own.

The balances of opinion on the past and expected change in the workforce size have sharply rebounded and lie below their respective average.

The balance of opinion on the level of inventories has retreated a little and has moved away from its average. This decrease is particularly noticeable in the wholesale trade of household goods, in that of other industrial capital goods and in the “other specialised wholesale trade”.

Finally, the balance related to the cash position has rebounded and has moved away from its long-term average.

The business climate in wholesale trade in March 2025 has been revised downwards by one point (after rounding). This revision is mainly due to the inclusion of late responses from companies.