Informations Rapides ·
24 September 2026 · n° 237
In September 2026, the business climate in services has deteriorated slightly Monthly survey of services - September 2026
According to the business managers surveyed in September 2026, the business climate in services has deteriorated slightly. At 98, the synthetic indicator has lost one point and has moved further away from its long-term average. The business climate in administrative and support services has fallen back sharply.
According to the business managers surveyed in September 2026, the business climate in services has deteriorated slightly. At 98, the synthetic indicator has lost one point and has moved further away from its long-term average. The business climate in administrative and support services has fallen back sharply.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 2026-09 | 97.9 |
| 2026-08 | 99.1 |
| 2026-07 | 99.0 |
| 2026-06 | 96.2 |
| 2026-05 | 95.3 |
| 2026-04 | 95.7 |
| 2026-03 | 98.2 |
| 2026-02 | 99.0 |
| 2026-01 | 99.2 |
| 2025-12 | 97.9 |
| 2025-11 | 98.0 |
| 2025-10 | 96.1 |
| 2025-09 | 97.9 |
| 2025-08 | 96.4 |
| 2025-07 | 96.7 |
| 2025-06 | 95.4 |
| 2025-05 | 95.0 |
| 2025-04 | 98.3 |
| 2025-03 | 97.0 |
| 2025-02 | 97.3 |
| 2025-01 | 95.8 |
| 2024-12 | 96.2 |
| 2024-11 | 97.6 |
| 2024-10 | 101.0 |
| 2024-09 | 98.3 |
| 2024-08 | 98.3 |
| 2024-07 | 96.1 |
| 2024-06 | 101.8 |
| 2024-05 | 103.2 |
| 2024-04 | 100.6 |
| 2024-03 | 102.3 |
| 2024-02 | 99.6 |
| 2024-01 | 101.4 |
| 2023-12 | 100.4 |
| 2023-11 | 99.5 |
| 2023-10 | 100.4 |
| 2023-09 | 100.5 |
| 2023-08 | 102.1 |
| 2023-07 | 102.4 |
| 2023-06 | 102.3 |
| 2023-05 | 102.0 |
| 2023-04 | 103.9 |
| 2023-03 | 103.7 |
| 2023-02 | 105.3 |
| 2023-01 | 104.7 |
| 2022-12 | 104.3 |
| 2022-11 | 104.0 |
| 2022-10 | 105.5 |
| 2022-09 | 105.4 |
| 2022-08 | 106.8 |
| 2022-07 | 106.1 |
| 2022-06 | 107.2 |
| 2022-05 | 109.3 |
| 2022-04 | 109.0 |
| 2022-03 | 108.5 |
| 2022-02 | 112.0 |
| 2022-01 | 105.3 |
| 2021-12 | 107.8 |
| 2021-11 | 114.7 |
| 2021-10 | 113.6 |
| 2021-09 | 110.2 |
| 2021-08 | 109.0 |
| 2021-07 | 111.0 |
| 2021-06 | 112.8 |
| 2021-05 | 107.3 |
| 2021-04 | 91.6 |
| 2021-03 | 93.2 |
| 2021-02 | 86.7 |
| 2021-01 | 90.6 |
| 2020-12 | 89.1 |
| 2020-11 | 74.8 |
| 2020-10 | 87.0 |
| 2020-09 | 93.2 |
| 2020-08 | 93.3 |
| 2020-07 | 88.2 |
| 2020-06 | 76.9 |
| 2020-05 | 47.5 |
| 2020-04 | 36.3 |
| 2020-03 | 91.8 |
| 2020-02 | 105.8 |
| 2020-01 | 106.3 |
| 2019-12 | 107.1 |
| 2019-11 | 106.4 |
| 2019-10 | 105.7 |
| 2019-09 | 105.6 |
| 2019-08 | 105.3 |
| 2019-07 | 104.9 |
| 2019-06 | 105.9 |
| 2019-05 | 106.4 |
| 2019-04 | 106.5 |
| 2019-03 | 105.2 |
| 2019-02 | 103.6 |
| 2019-01 | 103.7 |
| 2018-12 | 102.2 |
| 2018-11 | 103.9 |
| 2018-10 | 103.4 |
| 2018-09 | 104.7 |
| 2018-08 | 104.3 |
| 2018-07 | 104.8 |
| 2018-06 | 104.7 |
| 2018-05 | 104.7 |
| 2018-04 | 106.7 |
| 2018-03 | 107.3 |
| 2018-02 | 106.9 |
| 2018-01 | 107.6 |
| 2017-12 | 109.2 |
| 2017-11 | 107.7 |
| 2017-10 | 107.0 |
| 2017-09 | 106.7 |
| 2017-08 | 106.7 |
| 2017-07 | 104.1 |
| 2017-06 | 103.3 |
| 2017-05 | 103.0 |
| 2017-04 | 103.6 |
| 2017-03 | 103.3 |
| 2017-02 | 103.0 |
| 2017-01 | 101.5 |
| 2016-12 | 103.9 |
| 2016-11 | 101.1 |
| 2016-10 | 100.9 |
| 2016-09 | 101.0 |
| 2016-08 | 100.3 |
| 2016-07 | 100.5 |
| 2016-06 | 99.2 |
| 2016-05 | 101.0 |
| 2016-04 | 98.3 |
| 2016-03 | 99.7 |
| 2016-02 | 100.1 |
| 2016-01 | 100.2 |
| 2015-12 | 97.1 |
| 2015-11 | 99.4 |
| 2015-10 | 99.6 |
| 2015-09 | 97.6 |
| 2015-08 | 98.7 |
| 2015-07 | 97.6 |
| 2015-06 | 97.0 |
| 2015-05 | 95.4 |
| 2015-04 | 93.9 |
| 2015-03 | 92.3 |
| 2015-02 | 91.3 |
| 2015-01 | 91.0 |
| 2014-12 | 91.2 |
| 2014-11 | 91.0 |
| 2014-10 | 91.1 |
| 2014-09 | 90.8 |
| 2014-08 | 91.4 |
| 2014-07 | 92.4 |
| 2014-06 | 92.1 |
| 2014-05 | 92.0 |
| 2014-04 | 93.1 |
| 2014-03 | 93.0 |
| 2014-02 | 92.0 |
| 2014-01 | 92.1 |
| 2013-12 | 90.6 |
| 2013-11 | 92.3 |
| 2013-10 | 91.6 |
| 2013-09 | 92.3 |
| 2013-08 | 88.4 |
| 2013-07 | 86.2 |
| 2013-06 | 85.7 |
| 2013-05 | 84.4 |
| 2013-04 | 83.0 |
| 2013-03 | 83.8 |
| 2013-02 | 87.0 |
| 2013-01 | 88.1 |
| 2012-12 | 86.8 |
| 2012-11 | 85.1 |
| 2012-10 | 85.9 |
| 2012-09 | 87.0 |
| 2012-08 | 87.0 |
| 2012-07 | 89.4 |
| 2012-06 | 89.8 |
| 2012-05 | 91.9 |
| 2012-04 | 95.6 |
| 2012-03 | 93.1 |
| 2012-02 | 91.7 |
| 2012-01 | 92.3 |
| 2011-12 | 94.6 |
| 2011-11 | 95.1 |
| 2011-10 | 97.4 |
| 2011-09 | 98.3 |
| 2011-08 | 100.7 |
| 2011-07 | 105.2 |
| 2011-06 | 107.7 |
| 2011-05 | 108.0 |
| 2011-04 | 109.6 |
| 2011-03 | 111.3 |
| 2011-02 | 109.8 |
| 2011-01 | 107.6 |
| 2010-12 | 107.4 |
| 2010-11 | 105.1 |
| 2010-10 | 103.0 |
| 2010-09 | 101.8 |
| 2010-08 | 100.8 |
| 2010-07 | 99.2 |
| 2010-06 | 98.4 |
| 2010-05 | 99.6 |
| 2010-04 | 98.0 |
| 2010-03 | 94.5 |
| 2010-02 | 94.2 |
| 2010-01 | 94.0 |
| 2009-12 | 92.6 |
| 2009-11 | 92.2 |
| 2009-10 | 90.7 |
| 2009-09 | 87.4 |
| 2009-08 | 83.8 |
| 2009-07 | 81.3 |
| 2009-06 | 77.1 |
| 2009-05 | 72.2 |
| 2009-04 | 67.8 |
| 2009-03 | 67.6 |
| 2009-02 | 72.9 |
| 2009-01 | 74.2 |
| 2008-12 | 76.9 |
| 2008-11 | 80.1 |
| 2008-10 | 84.2 |
| 2008-09 | 93.2 |
| 2008-08 | 95.1 |
| 2008-07 | 96.7 |
| 2008-06 | 101.5 |
| 2008-05 | 104.8 |
| 2008-04 | 107.3 |
| 2008-03 | 109.2 |
| 2008-02 | 109.1 |
| 2008-01 | 111.2 |
| 2007-12 | 109.6 |
| 2007-11 | 110.9 |
| 2007-10 | 110.7 |
| 2007-09 | 112.2 |
| 2007-08 | 113.1 |
| 2007-07 | 114.0 |
| 2007-06 | 113.3 |
| 2007-05 | 113.6 |
| 2007-04 | 113.7 |
| 2007-03 | 114.2 |
| 2007-02 | 113.3 |
| 2007-01 | 111.6 |
| 2006-12 | 112.2 |
| 2006-11 | 114.1 |
| 2006-10 | 111.6 |
| 2006-09 | 111.5 |
| 2006-08 | 111.4 |
| 2006-07 | 111.2 |
| 2006-06 | 110.0 |
| 2006-05 | 111.6 |
| 2006-04 | 108.6 |
| 2006-03 | 108.3 |
| 2006-02 | 107.0 |
| 2006-01 | 109.7 |
graphiqueFrench business climate composite indicator
- Source: INSEE – monthly business survey in services.
The business manager’s opinion on their personal business outlook has deteriorated
In September 2026, business managers in services are slightly more pessimistic than in the previous month about their personal business outlook: the balances of opinion relating to expected demand and activity have decreased. The former has fallen back after increasing for two consecutive months and has returned below its long-term average, whereas the latter has decreased to its own. The balance on business outlook for the sector is stable, below its long-term average. Meanwhile, the balance on past activity has increased again and has moved closer to its average level.
The balance of opinion on expected change in the workforce size has fallen back sharply and has moved further away from its long-term average. The one relating to its past change has decreased again, standing markedly below its own average.
The balances relating to both past and expected change in selling prices have bounced back slightly, and both have moved away from their average.
The balance on the economic uncertainty felt by business managers has increased and has moved closer to its highest recorded level, excluding the Covid-19 pandemic, reached last April.
tableauEconomic outlook in the services sector
| Average* | June 2026 | July 2026 | Aug. 2026 | Sept. 2026 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 96 | 99 | 99 | 98 |
| General outlook | -7 | -13 | -8 | -10 | -10 |
| Past activity | 1 | -4 | -6 | -5 | -1 |
| Expected activity | 1 | -1 | 2 | 2 | 1 |
| Expected demand | -1 | -4 | -1 | 1 | -3 |
| Past selling prices | -2 | 4 | 5 | 3 | 4 |
| Expected selling prices | -1 | 3 | 4 | 3 | 5 |
| Past employment | 1 | -10 | -11 | -8 | -9 |
| Past employment except temporary work agencies | 0 | -9 | -7 | -7 | -9 |
| Expected employment | 2 | -2 | -5 | 0 | -6 |
| Expected employment except temporary work agencies | -1 | 0 | -2 | -1 | -1 |
| Economic uncertainty felt** | 12 | 17 | 16 | 16 | 17 |
- * 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 in administrative and support services has fallen back sharply
In September 2026, the business climate indicator in information-communication has declined anew after three months of stability and has moved away from its long-term average. This decline is mainly due to the sharp downturn in the balances related to the expected evolution of demand and workforce size, despite the strong rebound in the balance on past activity.
In professional, scientific and technical activities, the business climate has bounced back markedly and has moved back above its long-term average. The forward-looking balances on demand, activity and workforce size have rebounded, with the first two returning above their averages. The balance relating to the sector’s general outlook has also rebounded and has moved back above its own average
In administrative and support services, the business climate indicator has fallen back strongly and has moved away from its long-term average. The forward-looking balances on workforce size, demand and activity have fallen sharply. All stand below their average level.
In accommodation and food services, the business climate has fallen back and has returned below its average. The balances relating to workforce size and to expected demand and activity have deteriorated strongly. However, the opinion of business managers on the business outlook for the sector have improved for the fourth consecutive month.
Finally, the business climate indicator in road freight transport has rebounded slightly and has moved closer to its average. This increase is mainly due to the strong rebound in the balance on the expected evolution of activity, which has moved closer to its average. However, the balances related to past activity and to the evolution of workforce size, both past and expected, have deteriorated. All stand below their long-term average.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Nomenclature agrégée (NA 2008) au niveau « A21 »** | Average* | June 2026 | July 2026 | Aug. 2026 | Sept. 2026 |
|---|---|---|---|---|---|
| Road transport (8%) | |||||
| Composite indicator | 100 | 94 | 100 | 98 | 99 |
| General outlook | -19 | -28 | -18 | -22 | -19 |
| Past activity | -6 | 8 | 3 | 2 | -8 |
| Expected activity | -7 | -15 | -12 | -14 | -5 |
| Expected demand | -10 | -26 | -11 | -16 | -15 |
| Past employment | -6 | -17 | -11 | -2 | -9 |
| Expected employment | -7 | -14 | -8 | -4 | -10 |
| Accommodation and food service activities (11%) | |||||
| Composite indicator | 100 | 94 | 100 | 101 | 98 |
| General outlook | -13 | -24 | -19 | -14 | 0 |
| Past activity | -7 | -12 | -6 | -4 | -8 |
| Expected activity | -8 | -23 | -1 | 2 | -14 |
| Expected demand | -9 | -17 | -7 | -15 | -23 |
| Past employment | -5 | -15 | -8 | -1 | -7 |
| Expected employment | -5 | 3 | -1 | -4 | -21 |
| Information and communication (27%) | |||||
| Climat des affaires | 100 | 97 | 97 | 97 | 95 |
| Perspectives générales | 0 | -4 | 2 | -2 | -4 |
| Activité passée | 8 | -4 | -3 | -7 | 4 |
| Activité prévue | 9 | 9 | 4 | 5 | 4 |
| Demande prévue | 9 | 1 | -2 | 6 | -6 |
| Effectifs passés | 6 | 2 | -3 | -4 | 0 |
| Effectifs prévus | 10 | 4 | 1 | 4 | -1 |
| Professional, scientific and technical activities (24%) | |||||
| Composite indicator | 100 | 99 | 101 | 97 | 102 |
| General outlook | -8 | -12 | -8 | -10 | -6 |
| Past activity | -1 | -3 | -6 | -4 | 3 |
| Expected activity | -3 | 0 | 1 | -6 | -2 |
| Expected demand | -6 | -6 | -4 | -10 | -4 |
| Past employment | 0 | -7 | -6 | -5 | -6 |
| Expected employment | 0 | -2 | -3 | -4 | -1 |
| Administrative and support service activities (19%) | |||||
| Composite indicator | 100 | 87 | 93 | 98 | 91 |
| General outlook | -3 | -14 | -7 | -5 | -7 |
| Past activity | 5 | -7 | -8 | -6 | -5 |
| Expected activity | 4 | -13 | -4 | 1 | -7 |
| Expected demand | 2 | -15 | -7 | 1 | -10 |
| Past employment | 6 | -15 | -18 | -10 | -8 |
| Expected employment | 5 | -10 | -17 | 3 | -12 |
- 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).
- ** The balances related to real estate activities are not been published due to work of back-cast (cf. Warning in July).
- Source: INSEE, monthly business survey in services.
Revision
The business climate indicator in services of August 2026 has been revised downwards by one point (after rounding). This revision is mainly due to the inclusion of late responses from businesses.
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 27 August and 21 September 2026; most companies answer during the first two weeks of collection.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 22 October 2026 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 27 August and 21 September 2026; most companies answer during the first two weeks of collection.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 22 October 2026 at 8:45 am.