Informations Rapides · 23 July 2026 · n° 174

In July 2026, the business climate in wholesale trade has slightly retreated Bimonthly survey of wholesaling - July 2026

According to the business managers surveyed in July 2026, the bimonthly business climate in wholesale trade has slightly retreated. At 95, the synthetic indicator has lost two points and has returned to its March level, still below its long-term average (100). This deterioration mainly results from the sharp downturn in the balances of opinion related to past sales (including export sales).

In July 2026, the balance of opinion of wholesalers related to past sales has fallen back sharply and has moved away from its long-term average. It has decreased in wholesale trade of agricultural raw products and live animals, of food and beverages, and of household goods.

The balance related to past export sales has also fallen back sharply and has moved below its average. This decrease has been mainly driven by “other specialised wholesale trade”, where the balance has strongly fallen and has reached a level unobserved since March 2013, excluding the health crisis. It has decreased to a lesser extent in wholesale trade of household goods, of information and communication equipment, and of other industrial equipment.

Conversely, the balance related to the general business outlook has sharply rebounded after its strong decrease in May, but remains below its long-term average. The balance related to ordering intentions has started to rise anew and now stands just below its average.

The balance related to deliveries received has fallen back and has moved away from its average, while the one related to deliveries received from abroad is stable for the third two-month period in a row, below its own.

Lastly, the balance of opinion on the level of stocks has slightly rebounded, but remains below its average.

In July 2026, the balances of opinion related to past and expected workforce size have both slightly increased. However, both remain below their long-term average.

The balance related to the cash position has slightly rebounded and has almost reached its average.

The balances of opinion related to past and expected selling prices have both sharply fallen back, after their marked increase in March and May, and have moved below their respective long-term average. This decrease concerns all wholesale trade sub-sectors.

The business climate in wholesale trade in May 2026 has been revised upwards by one point (after rounding). This revision results from the inclusion of late responses from companies, as well as from the update of seasonal adjustment coefficients and the parameters of the synthetic indicators.