Informations Rapides ·
22 October 2026 · n° 252
In October 2026, the business climate has picked up slightly Business indicator - October 2026
In October 2026, the synthetic indicator of business climate, calculated from the responses of the business managers from the main market sectors, has picked up slightly. At 97, it has gained one point and has moved closer to its average level (100). The employment climate indicator has lost three points.
In October 2026, the synthetic indicator of business climate, calculated from the responses of the business managers from the main market sectors, has picked up slightly. At 97, it has gained one point and has moved closer to its average level (100). The employment climate indicator has lost three points.
In October 2026, the business climate indicator has gained one point
In October 2026, the synthetic indicator of business climate in France has picked up slightly and gained one point. At 97, it has moved closer to its long term average (100). The business climate indicator has strongly picked up in manufacturing industry and increased slightly in services. It has deteriorated again in retail trade, and has declined anew in building construction.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 2026-10 | 97.5 |
| 2026-09 | 96.4 |
| 2026-08 | 97.8 |
| 2026-07 | 97.4 |
| 2026-06 | 95.0 |
| 2026-05 | 93.9 |
| 2026-04 | 94.1 |
| 2026-03 | 97.5 |
| 2026-02 | 98.6 |
| 2026-01 | 99.2 |
| 2025-12 | 98.5 |
| 2025-11 | 97.5 |
| 2025-10 | 97.3 |
| 2025-09 | 96.3 |
| 2025-08 | 96.7 |
| 2025-07 | 96.0 |
| 2025-06 | 96.0 |
| 2025-05 | 95.6 |
| 2025-04 | 96.8 |
| 2025-03 | 96.6 |
| 2025-02 | 95.8 |
| 2025-01 | 95.2 |
| 2024-12 | 94.7 |
| 2024-11 | 96.0 |
| 2024-10 | 97.8 |
| 2024-09 | 97.7 |
| 2024-08 | 97.1 |
| 2024-07 | 94.5 |
| 2024-06 | 99.7 |
| 2024-05 | 100.0 |
| 2024-04 | 99.7 |
| 2024-03 | 100.2 |
| 2024-02 | 98.7 |
| 2024-01 | 99.2 |
| 2023-12 | 98.7 |
| 2023-11 | 98.1 |
| 2023-10 | 99.1 |
| 2023-09 | 100.0 |
| 2023-08 | 100.5 |
| 2023-07 | 100.8 |
| 2023-06 | 100.9 |
| 2023-05 | 100.8 |
| 2023-04 | 103.4 |
| 2023-03 | 103.0 |
| 2023-02 | 103.3 |
| 2023-01 | 102.6 |
| 2022-12 | 103.3 |
| 2022-11 | 102.8 |
| 2022-10 | 103.1 |
| 2022-09 | 102.3 |
| 2022-08 | 104.2 |
| 2022-07 | 103.7 |
| 2022-06 | 104.9 |
| 2022-05 | 106.5 |
| 2022-04 | 107.0 |
| 2022-03 | 107.5 |
| 2022-02 | 113.9 |
| 2022-01 | 108.8 |
| 2021-12 | 110.5 |
| 2021-11 | 115.2 |
| 2021-10 | 114.5 |
| 2021-09 | 112.2 |
| 2021-08 | 111.4 |
| 2021-07 | 113.7 |
| 2021-06 | 116.0 |
| 2021-05 | 111.2 |
| 2021-04 | 97.0 |
| 2021-03 | 98.1 |
| 2021-02 | 90.7 |
| 2021-01 | 93.9 |
| 2020-12 | 92.9 |
| 2020-11 | 77.5 |
| 2020-10 | 90.1 |
| 2020-09 | 93.6 |
| 2020-08 | 94.3 |
| 2020-07 | 90.8 |
| 2020-06 | 84.7 |
| 2020-05 | 58.4 |
| 2020-04 | 45.3 |
| 2020-03 | 93.8 |
| 2020-02 | 106.2 |
| 2020-01 | 106.8 |
| 2019-12 | 106.8 |
| 2019-11 | 107.1 |
| 2019-10 | 106.9 |
| 2019-09 | 107.0 |
| 2019-08 | 106.3 |
| 2019-07 | 106.2 |
| 2019-06 | 107.1 |
| 2019-05 | 107.4 |
| 2019-04 | 107.5 |
| 2019-03 | 106.4 |
| 2019-02 | 104.7 |
| 2019-01 | 104.5 |
| 2018-12 | 103.8 |
| 2018-11 | 106.9 |
| 2018-10 | 106.5 |
| 2018-09 | 107.4 |
| 2018-08 | 107.9 |
| 2018-07 | 108.2 |
| 2018-06 | 109.1 |
| 2018-05 | 109.7 |
| 2018-04 | 111.5 |
| 2018-03 | 111.9 |
| 2018-02 | 112.1 |
| 2018-01 | 113.1 |
| 2017-12 | 113.5 |
| 2017-11 | 112.3 |
| 2017-10 | 111.1 |
| 2017-09 | 111.2 |
| 2017-08 | 110.7 |
| 2017-07 | 109.9 |
| 2017-06 | 108.9 |
| 2017-05 | 107.9 |
| 2017-04 | 107.5 |
| 2017-03 | 106.7 |
| 2017-02 | 107.1 |
| 2017-01 | 106.3 |
| 2016-12 | 106.3 |
| 2016-11 | 103.9 |
| 2016-10 | 103.9 |
| 2016-09 | 103.7 |
| 2016-08 | 103.6 |
| 2016-07 | 104.1 |
| 2016-06 | 103.2 |
| 2016-05 | 104.6 |
| 2016-04 | 102.6 |
| 2016-03 | 103.3 |
| 2016-02 | 103.3 |
| 2016-01 | 104.4 |
| 2015-12 | 101.9 |
| 2015-11 | 103.3 |
| 2015-10 | 103.3 |
| 2015-09 | 102.4 |
| 2015-08 | 103.2 |
| 2015-07 | 101.4 |
| 2015-06 | 101.0 |
| 2015-05 | 99.8 |
| 2015-04 | 98.7 |
| 2015-03 | 97.1 |
| 2015-02 | 95.9 |
| 2015-01 | 94.9 |
| 2014-12 | 94.0 |
| 2014-11 | 93.8 |
| 2014-10 | 91.9 |
| 2014-09 | 92.0 |
| 2014-08 | 93.1 |
| 2014-07 | 94.5 |
| 2014-06 | 95.2 |
| 2014-05 | 95.8 |
| 2014-04 | 96.4 |
| 2014-03 | 96.5 |
| 2014-02 | 95.4 |
| 2014-01 | 95.7 |
| 2013-12 | 94.3 |
| 2013-11 | 95.0 |
| 2013-10 | 95.4 |
| 2013-09 | 95.8 |
| 2013-08 | 91.8 |
| 2013-07 | 88.5 |
| 2013-06 | 86.7 |
| 2013-05 | 85.3 |
| 2013-04 | 84.2 |
| 2013-03 | 85.7 |
| 2013-02 | 87.8 |
| 2013-01 | 87.7 |
| 2012-12 | 88.3 |
| 2012-11 | 87.4 |
| 2012-10 | 85.9 |
| 2012-09 | 87.9 |
| 2012-08 | 89.4 |
| 2012-07 | 90.7 |
| 2012-06 | 91.5 |
| 2012-05 | 92.9 |
| 2012-04 | 97.3 |
| 2012-03 | 95.4 |
| 2012-02 | 92.8 |
| 2012-01 | 92.8 |
| 2011-12 | 94.3 |
| 2011-11 | 95.5 |
| 2011-10 | 97.6 |
| 2011-09 | 98.7 |
| 2011-08 | 101.5 |
| 2011-07 | 106.6 |
| 2011-06 | 108.2 |
| 2011-05 | 108.4 |
| 2011-04 | 109.2 |
| 2011-03 | 110.1 |
| 2011-02 | 109.6 |
| 2011-01 | 108.3 |
| 2010-12 | 107.4 |
| 2010-11 | 105.8 |
| 2010-10 | 104.9 |
| 2010-09 | 103.0 |
| 2010-08 | 101.0 |
| 2010-07 | 98.7 |
| 2010-06 | 96.9 |
| 2010-05 | 97.4 |
| 2010-04 | 96.2 |
| 2010-03 | 92.2 |
| 2010-02 | 93.0 |
| 2010-01 | 92.3 |
| 2009-12 | 90.7 |
| 2009-11 | 90.6 |
| 2009-10 | 88.8 |
| 2009-09 | 85.9 |
| 2009-08 | 82.9 |
| 2009-07 | 79.6 |
| 2009-06 | 77.5 |
| 2009-05 | 73.8 |
| 2009-04 | 70.6 |
| 2009-03 | 68.9 |
| 2009-02 | 72.6 |
| 2009-01 | 74.4 |
| 2008-12 | 76.0 |
| 2008-11 | 79.0 |
| 2008-10 | 82.6 |
| 2008-09 | 92.4 |
| 2008-08 | 94.8 |
| 2008-07 | 96.1 |
| 2008-06 | 99.9 |
| 2008-05 | 103.4 |
| 2008-04 | 106.1 |
| 2008-03 | 108.5 |
| 2008-02 | 108.7 |
| 2008-01 | 109.8 |
| 2007-12 | 110.4 |
| 2007-11 | 110.6 |
| 2007-10 | 110.3 |
| 2007-09 | 111.6 |
| 2007-08 | 112.3 |
| 2007-07 | 113.4 |
| 2007-06 | 114.3 |
| 2007-05 | 113.3 |
| 2007-04 | 113.0 |
| 2007-03 | 112.4 |
| 2007-02 | 112.0 |
| 2007-01 | 110.1 |
| 2006-12 | 110.1 |
| 2006-11 | 111.8 |
| 2006-10 | 109.9 |
| 2006-09 | 109.9 |
| 2006-08 | 109.3 |
| 2006-07 | 108.7 |
| 2006-06 | 106.6 |
| 2006-05 | 107.0 |
| 2006-04 | 105.2 |
| 2006-03 | 104.6 |
| 2006-02 | 104.2 |
| 2006-01 | 106.7 |
graphiqueFrench business climate composite indicator
- Source: INSEE – business tendency surveys.
In October 2026, the business climate has worsened again in the whole sector comprising retail trade and trade and repair of motor vehicles. At 93, the synthetic indicator has lost three points and has moved further away from its long-term average (100). This deterioration mainly results from the sharp fall in the balance of opinion related to general business outlook.
The business climate in manufacturing industry has strongly resumed increasing. At 105, the synthetic indicator has gained four points and has moved away from its long-term average (100). All the balances comprising the indicator contribute to this increase, with the main contributions coming from the balances of opinion relating to global and foreign order books.
The business climate in services has improved slightly. At 99, the synthetic indicator has gained one point and has moved closer to its long-term average (100).
Lastly, the business climate in the construction sector has decreased. At 95, the synthetic indicator has lost one point and has moved away from its long-term average (100). Building contractors’ opinion on their past activity has worsened markedly, while the one relating to expected activity has improved anew.
tableauBusiness and employment climates
| June 26 | July 26 | Aug. 26 | Sept. 26 | Oct. 26 | |
|---|---|---|---|---|---|
| Business climates | |||||
| France | 95 | 97 | 98 | 96 | 97 |
| Manufacturing industry | 100 | 101 | 101 | 101 | 105 |
| Building construction | 95 | 96 | 96 | 96 | 95 |
| Services | 96 | 99 | 99 | 98 | 99 |
| Retail trade* | 91 | 96 | 99 | 96 | 93 |
| Wholesale trade | 95 | 93 | |||
| Employment | 98 | 99 | 99 | 98 | 95 |
- * including trade and repair of vehicles.
- Source: INSEE, business tendency surveys.
The employment climate has lost three points
In October 2026, the synthetic indicator of employment climate has declined again, by three points, and stands at 95, below its long-term average (100). This decline results from the decrease in the balance related to expected workforce size in services (except temporary work).
tableauFrench employment climate composite indicator
| French employment climate composite indicator | |
|---|---|
| 2026-10 | 95.1 |
| 2026-09 | 97.9 |
| 2026-08 | 99.2 |
| 2026-07 | 98.6 |
| 2026-06 | 98.2 |
| 2026-05 | 94.6 |
| 2026-04 | 99.7 |
| 2026-03 | 99.5 |
| 2026-02 | 97.9 |
| 2026-01 | 95.6 |
| 2025-12 | 94.7 |
| 2025-11 | 95.8 |
| 2025-10 | 94.8 |
| 2025-09 | 93.7 |
| 2025-08 | 94.5 |
| 2025-07 | 95.2 |
| 2025-06 | 97.7 |
| 2025-05 | 93.3 |
| 2025-04 | 96.7 |
| 2025-03 | 95.6 |
| 2025-02 | 93.7 |
| 2025-01 | 97.0 |
| 2024-12 | 96.5 |
| 2024-11 | 98.0 |
| 2024-10 | 97.7 |
| 2024-09 | 98.6 |
| 2024-08 | 98.2 |
| 2024-07 | 96.2 |
| 2024-06 | 99.6 |
| 2024-05 | 102.0 |
| 2024-04 | 101.5 |
| 2024-03 | 100.3 |
| 2024-02 | 102.6 |
| 2024-01 | 98.6 |
| 2023-12 | 100.9 |
| 2023-11 | 99.6 |
| 2023-10 | 103.2 |
| 2023-09 | 103.6 |
| 2023-08 | 101.8 |
| 2023-07 | 106.2 |
| 2023-06 | 106.4 |
| 2023-05 | 106.7 |
| 2023-04 | 110.2 |
| 2023-03 | 109.7 |
| 2023-02 | 110.8 |
| 2023-01 | 112.6 |
| 2022-12 | 111.2 |
| 2022-11 | 108.5 |
| 2022-10 | 109.1 |
| 2022-09 | 107.8 |
| 2022-08 | 108.2 |
| 2022-07 | 110.8 |
| 2022-06 | 108.2 |
| 2022-05 | 110.4 |
| 2022-04 | 112.3 |
| 2022-03 | 113.3 |
| 2022-02 | 114.5 |
| 2022-01 | 110.5 |
| 2021-12 | 109.0 |
| 2021-11 | 113.8 |
| 2021-10 | 111.7 |
| 2021-09 | 105.9 |
| 2021-08 | 109.6 |
| 2021-07 | 109.0 |
| 2021-06 | 107.5 |
| 2021-05 | 101.6 |
| 2021-04 | 92.2 |
| 2021-03 | 90.8 |
| 2021-02 | 83.6 |
| 2021-01 | 85.7 |
| 2020-12 | 83.3 |
| 2020-11 | 79.9 |
| 2020-10 | 88.4 |
| 2020-09 | 91.3 |
| 2020-08 | 89.0 |
| 2020-07 | 79.0 |
| 2020-06 | 69.6 |
| 2020-05 | 49.6 |
| 2020-04 | 40.7 |
| 2020-03 | 97.4 |
| 2020-02 | 106.2 |
| 2020-01 | 105.8 |
| 2019-12 | 107.7 |
| 2019-11 | 108.4 |
| 2019-10 | 107.2 |
| 2019-09 | 106.9 |
| 2019-08 | 107.4 |
| 2019-07 | 107.6 |
| 2019-06 | 108.4 |
| 2019-05 | 106.4 |
| 2019-04 | 108.1 |
| 2019-03 | 108.6 |
| 2019-02 | 107.2 |
| 2019-01 | 106.4 |
| 2018-12 | 104.6 |
| 2018-11 | 105.5 |
| 2018-10 | 107.1 |
| 2018-09 | 107.2 |
| 2018-08 | 108.0 |
| 2018-07 | 108.6 |
| 2018-06 | 109.9 |
| 2018-05 | 110.3 |
| 2018-04 | 109.8 |
| 2018-03 | 110.2 |
| 2018-02 | 109.6 |
| 2018-01 | 109.0 |
| 2017-12 | 108.4 |
| 2017-11 | 107.3 |
| 2017-10 | 108.1 |
| 2017-09 | 106.7 |
| 2017-08 | 104.9 |
| 2017-07 | 107.1 |
| 2017-06 | 107.7 |
| 2017-05 | 107.7 |
| 2017-04 | 107.7 |
| 2017-03 | 107.7 |
| 2017-02 | 104.7 |
| 2017-01 | 105.5 |
| 2016-12 | 106.6 |
| 2016-11 | 105.8 |
| 2016-10 | 105.1 |
| 2016-09 | 105.4 |
| 2016-08 | 102.6 |
| 2016-07 | 105.0 |
| 2016-06 | 101.1 |
| 2016-05 | 101.6 |
| 2016-04 | 99.6 |
| 2016-03 | 99.2 |
| 2016-02 | 100.5 |
| 2016-01 | 101.4 |
| 2015-12 | 100.7 |
| 2015-11 | 101.5 |
| 2015-10 | 99.6 |
| 2015-09 | 99.7 |
| 2015-08 | 100.2 |
| 2015-07 | 99.3 |
| 2015-06 | 98.8 |
| 2015-05 | 96.7 |
| 2015-04 | 96.6 |
| 2015-03 | 94.5 |
| 2015-02 | 95.1 |
| 2015-01 | 93.1 |
| 2014-12 | 94.1 |
| 2014-11 | 93.6 |
| 2014-10 | 93.5 |
| 2014-09 | 93.6 |
| 2014-08 | 93.4 |
| 2014-07 | 94.6 |
| 2014-06 | 94.6 |
| 2014-05 | 96.2 |
| 2014-04 | 96.9 |
| 2014-03 | 95.0 |
| 2014-02 | 93.6 |
| 2014-01 | 94.0 |
| 2013-12 | 93.6 |
| 2013-11 | 92.8 |
| 2013-10 | 93.6 |
| 2013-09 | 90.9 |
| 2013-08 | 90.4 |
| 2013-07 | 89.4 |
| 2013-06 | 88.5 |
| 2013-05 | 84.8 |
| 2013-04 | 86.2 |
| 2013-03 | 88.1 |
| 2013-02 | 88.9 |
| 2013-01 | 91.7 |
| 2012-12 | 89.3 |
| 2012-11 | 89.6 |
| 2012-10 | 91.2 |
| 2012-09 | 91.2 |
| 2012-08 | 92.9 |
| 2012-07 | 92.1 |
| 2012-06 | 93.3 |
| 2012-05 | 94.4 |
| 2012-04 | 97.7 |
| 2012-03 | 98.3 |
| 2012-02 | 97.5 |
| 2012-01 | 97.7 |
| 2011-12 | 98.5 |
| 2011-11 | 100.6 |
| 2011-10 | 99.5 |
| 2011-09 | 103.6 |
| 2011-08 | 105.3 |
| 2011-07 | 109.8 |
| 2011-06 | 111.2 |
| 2011-05 | 111.4 |
| 2011-04 | 109.1 |
| 2011-03 | 109.2 |
| 2011-02 | 111.0 |
| 2011-01 | 103.0 |
| 2010-12 | 105.8 |
| 2010-11 | 104.4 |
| 2010-10 | 102.9 |
| 2010-09 | 99.6 |
| 2010-08 | 98.3 |
| 2010-07 | 97.5 |
| 2010-06 | 97.5 |
| 2010-05 | 96.6 |
| 2010-04 | 95.2 |
| 2010-03 | 93.2 |
| 2010-02 | 90.8 |
| 2010-01 | 90.2 |
| 2009-12 | 88.7 |
| 2009-11 | 86.8 |
| 2009-10 | 84.3 |
| 2009-09 | 82.6 |
| 2009-08 | 84.1 |
| 2009-07 | 78.9 |
| 2009-06 | 74.8 |
| 2009-05 | 73.9 |
| 2009-04 | 74.4 |
| 2009-03 | 74.2 |
| 2009-02 | 78.9 |
| 2009-01 | 80.9 |
| 2008-12 | 84.1 |
| 2008-11 | 88.5 |
| 2008-10 | 95.7 |
| 2008-09 | 100.1 |
| 2008-08 | 101.4 |
| 2008-07 | 106.9 |
| 2008-06 | 104.6 |
| 2008-05 | 109.0 |
| 2008-04 | 113.3 |
| 2008-03 | 113.2 |
| 2008-02 | 114.9 |
| 2008-01 | 115.2 |
| 2007-12 | 115.1 |
| 2007-11 | 114.3 |
| 2007-10 | 112.8 |
| 2007-09 | 114.3 |
| 2007-08 | 113.8 |
| 2007-07 | 111.9 |
| 2007-06 | 113.9 |
| 2007-05 | 115.1 |
| 2007-04 | 112.3 |
| 2007-03 | 111.8 |
| 2007-02 | 112.7 |
| 2007-01 | 110.2 |
| 2006-12 | 112.5 |
| 2006-11 | 111.7 |
| 2006-10 | 110.2 |
| 2006-09 | 108.9 |
| 2006-08 | 110.3 |
| 2006-07 | 110.8 |
| 2006-06 | 111.8 |
| 2006-05 | 109.2 |
| 2006-04 | 108.7 |
| 2006-03 | 106.1 |
| 2006-02 | 105.3 |
| 2006-01 | 105.5 |
graphiqueFrench employment climate composite indicator
- Source: INSEE – business tendency surveys.
Revisions
The business climate synthetic indicator for September 2026 has not been revised (after rounding). The indicator of business climate in retail trade for September 2026 has been revised upwards by two points (after rounding): this revision is due to the inclusion of late responses from companies. The other indicators of climate by sector 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 28 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 25 September and 19 October 2026; most companies answer during the first two weeks of collection.
Next issue: 20 November 2026 at 08:45 am.
Documentation
Methodology note (update July 2026 in French) (pdf,106 Ko)
Pour en savoir plus
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 28 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 25 September and 19 October 2026; most companies answer during the first two weeks of collection.
Next issue: 20 November 2026 at 08:45 am.