21 November 2019
2019- n° 302In November 2019, the French business climate is stable and the employment climate
has improved Business climate indicator and turning point indicator - November 2019
In November 2019, the business climate is stable. The composite indicator, compiled from the answers of business managers in the main sectors, stands at 105, above its long-term mean (100).
Compared to the previous month, the business climate has gained two points in retail trade and one point in industry. It remains stable in services and has lost a point in building construction, as well as, compared to September, in wholesale trade. In most sectors, the business climate is above its long-term average, except in industry where it has just reached it.
In November, the platform on which companies answer business surveys has been unavailable for a few days. Therefore, the results for November might be revised more than usually for the December publication, which will take into account the answers received late.
The French business climate is stable, above its long-term average
In November 2019, the business climate is stable. The composite indicator, compiled from the answers of business managers in the main sectors, stands at 105, above its long-term mean (100).
Compared to the previous month, the business climate has gained two points in retail trade and one point in industry. It remains stable in services and has lost a point in building construction, as well as, compared to September, in wholesale trade. In most sectors, the business climate is above its long-term average, except in industry where it has just reached it.
tableauFrench business climate composite indicator
| French business climate composite indicator | |
|---|---|
| 1998-01 | 108.7 |
| 1998-02 | 110.0 |
| 1998-03 | 112.9 |
| 1998-04 | 111.0 |
| 1998-05 | 112.0 |
| 1998-06 | 113.2 |
| 1998-07 | 112.4 |
| 1998-08 | 111.6 |
| 1998-09 | 109.5 |
| 1998-10 | 107.0 |
| 1998-11 | 105.1 |
| 1998-12 | 102.3 |
| 1999-01 | 102.2 |
| 1999-02 | 102.3 |
| 1999-03 | 100.6 |
| 1999-04 | 101.4 |
| 1999-05 | 103.1 |
| 1999-06 | 102.6 |
| 1999-07 | 107.6 |
| 1999-08 | 110.5 |
| 1999-09 | 113.6 |
| 1999-10 | 115.8 |
| 1999-11 | 117.2 |
| 1999-12 | 118.6 |
| 2000-01 | 115.5 |
| 2000-02 | 116.0 |
| 2000-03 | 116.8 |
| 2000-04 | 116.6 |
| 2000-05 | 115.9 |
| 2000-06 | 117.5 |
| 2000-07 | 117.1 |
| 2000-08 | 117.7 |
| 2000-09 | 117.9 |
| 2000-10 | 116.5 |
| 2000-11 | 114.2 |
| 2000-12 | 113.7 |
| 2001-01 | 112.7 |
| 2001-02 | 112.6 |
| 2001-03 | 112.6 |
| 2001-04 | 107.4 |
| 2001-05 | 105.1 |
| 2001-06 | 104.1 |
| 2001-07 | 101.9 |
| 2001-08 | 100.5 |
| 2001-09 | 98.8 |
| 2001-10 | 93.9 |
| 2001-11 | 94.0 |
| 2001-12 | 94.6 |
| 2002-01 | 95.8 |
| 2002-02 | 96.4 |
| 2002-03 | 98.4 |
| 2002-04 | 101.7 |
| 2002-05 | 103.0 |
| 2002-06 | 102.0 |
| 2002-07 | 99.1 |
| 2002-08 | 98.3 |
| 2002-09 | 97.2 |
| 2002-10 | 95.5 |
| 2002-11 | 96.9 |
| 2002-12 | 99.5 |
| 2003-01 | 96.0 |
| 2003-02 | 95.0 |
| 2003-03 | 89.6 |
| 2003-04 | 87.3 |
| 2003-05 | 92.0 |
| 2003-06 | 92.1 |
| 2003-07 | 94.4 |
| 2003-08 | 95.4 |
| 2003-09 | 95.3 |
| 2003-10 | 96.4 |
| 2003-11 | 100.5 |
| 2003-12 | 101.8 |
| 2004-01 | 105.8 |
| 2004-02 | 104.8 |
| 2004-03 | 105.0 |
| 2004-04 | 105.9 |
| 2004-05 | 105.8 |
| 2004-06 | 105.2 |
| 2004-07 | 106.6 |
| 2004-08 | 106.8 |
| 2004-09 | 106.6 |
| 2004-10 | 107.7 |
| 2004-11 | 105.2 |
| 2004-12 | 106.5 |
| 2005-01 | 106.0 |
| 2005-02 | 106.2 |
| 2005-03 | 105.8 |
| 2005-04 | 105.0 |
| 2005-05 | 102.8 |
| 2005-06 | 104.0 |
| 2005-07 | 104.5 |
| 2005-08 | 104.4 |
| 2005-09 | 103.7 |
| 2005-10 | 106.6 |
| 2005-11 | 106.5 |
| 2005-12 | 107.8 |
| 2006-01 | 109.2 |
| 2006-02 | 107.2 |
| 2006-03 | 107.4 |
| 2006-04 | 108.1 |
| 2006-05 | 109.8 |
| 2006-06 | 109.2 |
| 2006-07 | 111.0 |
| 2006-08 | 111.2 |
| 2006-09 | 111.7 |
| 2006-10 | 111.6 |
| 2006-11 | 112.5 |
| 2006-12 | 110.9 |
| 2007-01 | 110.9 |
| 2007-02 | 112.6 |
| 2007-03 | 113.0 |
| 2007-04 | 113.7 |
| 2007-05 | 114.1 |
| 2007-06 | 115.3 |
| 2007-07 | 114.5 |
| 2007-08 | 113.3 |
| 2007-09 | 112.4 |
| 2007-10 | 111.7 |
| 2007-11 | 111.8 |
| 2007-12 | 111.4 |
| 2008-01 | 110.3 |
| 2008-02 | 108.8 |
| 2008-03 | 108.5 |
| 2008-04 | 105.8 |
| 2008-05 | 103.0 |
| 2008-06 | 100.0 |
| 2008-07 | 95.7 |
| 2008-08 | 94.3 |
| 2008-09 | 91.5 |
| 2008-10 | 82.6 |
| 2008-11 | 79.2 |
| 2008-12 | 75.4 |
| 2009-01 | 73.5 |
| 2009-02 | 71.1 |
| 2009-03 | 68.1 |
| 2009-04 | 68.9 |
| 2009-05 | 72.6 |
| 2009-06 | 75.5 |
| 2009-07 | 77.6 |
| 2009-08 | 81.5 |
| 2009-09 | 85.0 |
| 2009-10 | 87.7 |
| 2009-11 | 90.0 |
| 2009-12 | 90.6 |
| 2010-01 | 92.7 |
| 2010-02 | 93.2 |
| 2010-03 | 92.6 |
| 2010-04 | 96.9 |
| 2010-05 | 98.0 |
| 2010-06 | 97.6 |
| 2010-07 | 99.8 |
| 2010-08 | 102.2 |
| 2010-09 | 103.6 |
| 2010-10 | 104.7 |
| 2010-11 | 105.0 |
| 2010-12 | 106.8 |
| 2011-01 | 107.7 |
| 2011-02 | 108.5 |
| 2011-03 | 109.5 |
| 2011-04 | 109.2 |
| 2011-05 | 108.2 |
| 2011-06 | 108.4 |
| 2011-07 | 106.3 |
| 2011-08 | 101.0 |
| 2011-09 | 97.7 |
| 2011-10 | 96.3 |
| 2011-11 | 94.4 |
| 2011-12 | 93.0 |
| 2012-01 | 92.1 |
| 2012-02 | 92.0 |
| 2012-03 | 94.5 |
| 2012-04 | 95.2 |
| 2012-05 | 91.7 |
| 2012-06 | 90.6 |
| 2012-07 | 88.4 |
| 2012-08 | 87.8 |
| 2012-09 | 86.3 |
| 2012-10 | 84.2 |
| 2012-11 | 86.1 |
| 2012-12 | 86.8 |
| 2013-01 | 86.7 |
| 2013-02 | 86.6 |
| 2013-03 | 84.7 |
| 2013-04 | 83.1 |
| 2013-05 | 84.2 |
| 2013-06 | 85.4 |
| 2013-07 | 87.3 |
| 2013-08 | 90.5 |
| 2013-09 | 93.8 |
| 2013-10 | 93.4 |
| 2013-11 | 92.6 |
| 2013-12 | 92.5 |
| 2014-01 | 93.1 |
| 2014-02 | 93.0 |
| 2014-03 | 94.4 |
| 2014-04 | 94.3 |
| 2014-05 | 93.9 |
| 2014-06 | 92.8 |
| 2014-07 | 92.2 |
| 2014-08 | 90.9 |
| 2014-09 | 90.2 |
| 2014-10 | 90.3 |
| 2014-11 | 92.1 |
| 2014-12 | 92.3 |
| 2015-01 | 92.7 |
| 2015-02 | 93.5 |
| 2015-03 | 94.6 |
| 2015-04 | 95.7 |
| 2015-05 | 96.7 |
| 2015-06 | 97.6 |
| 2015-07 | 98.0 |
| 2015-08 | 99.6 |
| 2015-09 | 99.3 |
| 2015-10 | 100.4 |
| 2015-11 | 100.5 |
| 2015-12 | 98.9 |
| 2016-01 | 100.9 |
| 2016-02 | 99.9 |
| 2016-03 | 100.0 |
| 2016-04 | 100.0 |
| 2016-05 | 101.8 |
| 2016-06 | 100.2 |
| 2016-07 | 100.8 |
| 2016-08 | 100.4 |
| 2016-09 | 100.8 |
| 2016-10 | 101.1 |
| 2016-11 | 101.4 |
| 2016-12 | 103.8 |
| 2017-01 | 103.4 |
| 2017-02 | 103.9 |
| 2017-03 | 103.9 |
| 2017-04 | 104.1 |
| 2017-05 | 105.1 |
| 2017-06 | 106.7 |
| 2017-07 | 107.5 |
| 2017-08 | 108.6 |
| 2017-09 | 109.1 |
| 2017-10 | 109.0 |
| 2017-11 | 110.4 |
| 2017-12 | 111.4 |
| 2018-01 | 110.7 |
| 2018-02 | 109.7 |
| 2018-03 | 109.4 |
| 2018-04 | 108.5 |
| 2018-05 | 106.7 |
| 2018-06 | 106.5 |
| 2018-07 | 105.8 |
| 2018-08 | 105.2 |
| 2018-09 | 105.1 |
| 2018-10 | 103.9 |
| 2018-11 | 104.4 |
| 2018-12 | 101.5 |
| 2019-01 | 102.1 |
| 2019-02 | 103.1 |
| 2019-03 | 104.6 |
| 2019-04 | 105.3 |
| 2019-05 | 106.0 |
| 2019-06 | 106.2 |
| 2019-07 | 105.1 |
| 2019-08 | 105.3 |
| 2019-09 | 106.3 |
| 2019-10 | 105.4 |
| 2019-11 | 105.3 |
graphiqueFrench business climate composite indicator
- Source: INSEE.
tableauBusiness and employment climates
| July 19 | Aug. 19 | Sept. 19 | Oct. 19 | Nov. 19 | |
|---|---|---|---|---|---|
| Business climates | |||||
| France | 105 | 105 | 106 | 105 | 105 |
| Manufacturing | 101 | 103 | 102 | 99 | 100 |
| Building construction | 111 | 111 | 112 | 112 | 111 |
| Services | 105 | 105 | 106 | 106 | 106 |
| Retail trade | 105 | 100 | 105 | 105 | 107 |
| Wholesale trade | 106 | 106 | 105 | ||
| Employment climate | |||||
| Employment | 106 | 105 | 106 | 106 | 108 |
- Source: INSEE, Business tendency surveys
The employment climate has improved and stands at a high level
In November 2019, the employment climate has gained two points. At 108, the indicator that synthesizes it has reached its highest level since August 2018, well above its long-term average. The increase in the balance of opinion on the past change in the workforce size in services is somewhat tempered by the decline in the number of employees expected in the retail sector.
tableauFrench employment climate composite indicator
| French employment climate composite indicator | |
|---|---|
| 1998-01 | 101.9 |
| 1998-02 | 103.7 |
| 1998-03 | 105.6 |
| 1998-04 | 107.3 |
| 1998-05 | 107.9 |
| 1998-06 | 109.0 |
| 1998-07 | 110.3 |
| 1998-08 | 108.5 |
| 1998-09 | 106.7 |
| 1998-10 | 105.7 |
| 1998-11 | 105.4 |
| 1998-12 | 104.7 |
| 1999-01 | 103.9 |
| 1999-02 | 105.4 |
| 1999-03 | 106.8 |
| 1999-04 | 108.3 |
| 1999-05 | 108.5 |
| 1999-06 | 109.0 |
| 1999-07 | 109.8 |
| 1999-08 | 112.4 |
| 1999-09 | 114.9 |
| 1999-10 | 117.3 |
| 1999-11 | 118.2 |
| 1999-12 | 118.8 |
| 2000-01 | 119.2 |
| 2000-02 | 117.1 |
| 2000-03 | 115.0 |
| 2000-04 | 113.0 |
| 2000-05 | 116.9 |
| 2000-06 | 120.7 |
| 2000-07 | 117.4 |
| 2000-08 | 119.3 |
| 2000-09 | 120.3 |
| 2000-10 | 120.5 |
| 2000-11 | 122.6 |
| 2000-12 | 121.0 |
| 2001-01 | 118.9 |
| 2001-02 | 119.8 |
| 2001-03 | 118.7 |
| 2001-04 | 117.6 |
| 2001-05 | 113.4 |
| 2001-06 | 111.4 |
| 2001-07 | 107.4 |
| 2001-08 | 108.0 |
| 2001-09 | 107.8 |
| 2001-10 | 108.8 |
| 2001-11 | 102.9 |
| 2001-12 | 105.2 |
| 2002-01 | 102.7 |
| 2002-02 | 100.7 |
| 2002-03 | 102.4 |
| 2002-04 | 107.0 |
| 2002-05 | 104.3 |
| 2002-06 | 102.8 |
| 2002-07 | 103.7 |
| 2002-08 | 101.2 |
| 2002-09 | 98.1 |
| 2002-10 | 94.2 |
| 2002-11 | 97.8 |
| 2002-12 | 96.5 |
| 2003-01 | 97.6 |
| 2003-02 | 95.7 |
| 2003-03 | 91.8 |
| 2003-04 | 90.4 |
| 2003-05 | 89.5 |
| 2003-06 | 92.3 |
| 2003-07 | 93.3 |
| 2003-08 | 94.0 |
| 2003-09 | 94.2 |
| 2003-10 | 94.8 |
| 2003-11 | 93.9 |
| 2003-12 | 96.9 |
| 2004-01 | 98.5 |
| 2004-02 | 97.2 |
| 2004-03 | 100.8 |
| 2004-04 | 101.1 |
| 2004-05 | 104.2 |
| 2004-06 | 101.0 |
| 2004-07 | 101.9 |
| 2004-08 | 101.8 |
| 2004-09 | 101.4 |
| 2004-10 | 103.0 |
| 2004-11 | 103.2 |
| 2004-12 | 102.0 |
| 2005-01 | 102.3 |
| 2005-02 | 102.1 |
| 2005-03 | 104.9 |
| 2005-04 | 102.3 |
| 2005-05 | 102.9 |
| 2005-06 | 102.3 |
| 2005-07 | 102.8 |
| 2005-08 | 103.5 |
| 2005-09 | 103.9 |
| 2005-10 | 104.1 |
| 2005-11 | 103.7 |
| 2005-12 | 103.0 |
| 2006-01 | 104.1 |
| 2006-02 | 104.0 |
| 2006-03 | 104.7 |
| 2006-04 | 107.3 |
| 2006-05 | 108.6 |
| 2006-06 | 110.8 |
| 2006-07 | 110.4 |
| 2006-08 | 109.6 |
| 2006-09 | 108.4 |
| 2006-10 | 109.3 |
| 2006-11 | 111.0 |
| 2006-12 | 111.7 |
| 2007-01 | 109.7 |
| 2007-02 | 111.9 |
| 2007-03 | 111.6 |
| 2007-04 | 112.2 |
| 2007-05 | 114.1 |
| 2007-06 | 113.6 |
| 2007-07 | 111.8 |
| 2007-08 | 113.3 |
| 2007-09 | 114.2 |
| 2007-10 | 112.1 |
| 2007-11 | 113.7 |
| 2007-12 | 115.3 |
| 2008-01 | 114.6 |
| 2008-02 | 114.8 |
| 2008-03 | 113.0 |
| 2008-04 | 113.3 |
| 2008-05 | 108.7 |
| 2008-06 | 104.7 |
| 2008-07 | 105.8 |
| 2008-08 | 100.6 |
| 2008-09 | 99.4 |
| 2008-10 | 94.4 |
| 2008-11 | 86.8 |
| 2008-12 | 81.4 |
| 2009-01 | 78.6 |
| 2009-02 | 77.1 |
| 2009-03 | 70.9 |
| 2009-04 | 71.5 |
| 2009-05 | 70.5 |
| 2009-06 | 71.7 |
| 2009-07 | 76.0 |
| 2009-08 | 81.1 |
| 2009-09 | 80.3 |
| 2009-10 | 82.3 |
| 2009-11 | 84.6 |
| 2009-12 | 87.2 |
| 2010-01 | 88.7 |
| 2010-02 | 89.3 |
| 2010-03 | 92.1 |
| 2010-04 | 94.6 |
| 2010-05 | 96.6 |
| 2010-06 | 97.8 |
| 2010-07 | 98.1 |
| 2010-08 | 98.6 |
| 2010-09 | 100.2 |
| 2010-10 | 103.1 |
| 2010-11 | 104.2 |
| 2010-12 | 105.2 |
| 2011-01 | 103.3 |
| 2011-02 | 110.3 |
| 2011-03 | 109.1 |
| 2011-04 | 109.3 |
| 2011-05 | 111.1 |
| 2011-06 | 111.2 |
| 2011-07 | 109.5 |
| 2011-08 | 105.0 |
| 2011-09 | 103.2 |
| 2011-10 | 99.8 |
| 2011-11 | 99.9 |
| 2011-12 | 98.1 |
| 2012-01 | 96.7 |
| 2012-02 | 96.4 |
| 2012-03 | 98.1 |
| 2012-04 | 96.8 |
| 2012-05 | 93.9 |
| 2012-06 | 92.6 |
| 2012-07 | 91.0 |
| 2012-08 | 92.2 |
| 2012-09 | 90.1 |
| 2012-10 | 90.3 |
| 2012-11 | 88.7 |
| 2012-12 | 88.2 |
| 2013-01 | 91.1 |
| 2013-02 | 87.6 |
| 2013-03 | 86.7 |
| 2013-04 | 84.8 |
| 2013-05 | 84.5 |
| 2013-06 | 87.4 |
| 2013-07 | 88.6 |
| 2013-08 | 89.3 |
| 2013-09 | 90.8 |
| 2013-10 | 93.3 |
| 2013-11 | 91.8 |
| 2013-12 | 93.8 |
| 2014-01 | 94.2 |
| 2014-02 | 93.5 |
| 2014-03 | 94.4 |
| 2014-04 | 97.3 |
| 2014-05 | 96.1 |
| 2014-06 | 94.4 |
| 2014-07 | 94.8 |
| 2014-08 | 93.4 |
| 2014-09 | 93.6 |
| 2014-10 | 93.6 |
| 2014-11 | 93.3 |
| 2014-12 | 93.8 |
| 2015-01 | 92.8 |
| 2015-02 | 95.1 |
| 2015-03 | 94.3 |
| 2015-04 | 96.7 |
| 2015-05 | 96.8 |
| 2015-06 | 98.7 |
| 2015-07 | 99.3 |
| 2015-08 | 100.2 |
| 2015-09 | 99.8 |
| 2015-10 | 100.2 |
| 2015-11 | 101.3 |
| 2015-12 | 100.5 |
| 2016-01 | 101.7 |
| 2016-02 | 100.3 |
| 2016-03 | 99.1 |
| 2016-04 | 100.0 |
| 2016-05 | 102.0 |
| 2016-06 | 101.2 |
| 2016-07 | 104.2 |
| 2016-08 | 103.0 |
| 2016-09 | 104.8 |
| 2016-10 | 104.9 |
| 2016-11 | 105.0 |
| 2016-12 | 106.7 |
| 2017-01 | 105.3 |
| 2017-02 | 104.3 |
| 2017-03 | 107.4 |
| 2017-04 | 106.6 |
| 2017-05 | 107.2 |
| 2017-06 | 107.9 |
| 2017-07 | 107.3 |
| 2017-08 | 105.7 |
| 2017-09 | 107.0 |
| 2017-10 | 108.7 |
| 2017-11 | 108.4 |
| 2017-12 | 109.0 |
| 2018-01 | 109.4 |
| 2018-02 | 110.1 |
| 2018-03 | 109.7 |
| 2018-04 | 108.9 |
| 2018-05 | 109.1 |
| 2018-06 | 110.1 |
| 2018-07 | 108.3 |
| 2018-08 | 107.7 |
| 2018-09 | 107.4 |
| 2018-10 | 107.2 |
| 2018-11 | 105.3 |
| 2018-12 | 104.6 |
| 2019-01 | 105.0 |
| 2019-02 | 106.9 |
| 2019-03 | 107.0 |
| 2019-04 | 106.8 |
| 2019-05 | 104.6 |
| 2019-06 | 106.2 |
| 2019-07 | 106.1 |
| 2019-08 | 105.4 |
| 2019-09 | 106.0 |
| 2019-10 | 105.9 |
| 2019-11 | 107.9 |
graphiqueFrench employment climate composite indicator
- Source: INSEE.
The turning-point indicator points out a favourable short-term economic outlook
The turning-point indicator for the French economy remains in the area indicating a favourable short-term economic outlook.
tableauTurning point indicators
| July 19 | Aug. 19 | Sept. 19 | Oct. 19 | Nov. 19 | |
|---|---|---|---|---|---|
| France | 0.8 | 0.8 | 0.9 | 0.7 | 0.7 |
| Manufacturing | 0.3 | 0.7 | 0.6 | -0.1 | -0.6 |
| Building construction | 0.6 | 0.9 | 0.9 | 0.9 | 0.6 |
| Services | 0.8 | 0.7 | 0.7 | 0.6 | 0.7 |
| Wholesale trade | 0.7 | - | 0.6 | - | 0.6 |
- Source: INSEE, Business tendency surveys
tableauTurning-point indicator
| Turning-point indicator | |
|---|---|
| 2010-01 | 0.61 |
| 2010-02 | 0.53 |
| 2010-03 | 0.62 |
| 2010-04 | 0.83 |
| 2010-05 | 0.92 |
| 2010-06 | 0.81 |
| 2010-07 | 0.86 |
| 2010-08 | 0.99 |
| 2010-09 | 0.96 |
| 2010-10 | 0.98 |
| 2010-11 | 0.92 |
| 2010-12 | 0.99 |
| 2011-01 | 0.99 |
| 2011-02 | 0.99 |
| 2011-03 | 0.98 |
| 2011-04 | 0.89 |
| 2011-05 | 0.43 |
| 2011-06 | 0.65 |
| 2011-07 | 0.58 |
| 2011-08 | -0.95 |
| 2011-09 | -1.0 |
| 2011-10 | -0.78 |
| 2011-11 | -0.69 |
| 2011-12 | -0.55 |
| 2012-01 | -0.44 |
| 2012-02 | -0.85 |
| 2012-03 | 0.64 |
| 2012-04 | 0.2 |
| 2012-05 | -0.73 |
| 2012-06 | -0.9 |
| 2012-07 | -0.77 |
| 2012-08 | -0.58 |
| 2012-09 | -0.47 |
| 2012-10 | -0.98 |
| 2012-11 | -0.8 |
| 2012-12 | -0.62 |
| 2013-01 | -0.53 |
| 2013-02 | -0.82 |
| 2013-03 | -1.0 |
| 2013-04 | -0.98 |
| 2013-05 | -0.04 |
| 2013-06 | 0.41 |
| 2013-07 | 0.85 |
| 2013-08 | 0.99 |
| 2013-09 | 0.99 |
| 2013-10 | 0.81 |
| 2013-11 | 0.07 |
| 2013-12 | 0.38 |
| 2014-01 | 0.86 |
| 2014-02 | 0.75 |
| 2014-03 | 0.98 |
| 2014-04 | 0.63 |
| 2014-05 | 0.41 |
| 2014-06 | 0.29 |
| 2014-07 | 0.36 |
| 2014-08 | 0.33 |
| 2014-09 | 0.36 |
| 2014-10 | -0.13 |
| 2014-11 | 0.14 |
| 2014-12 | 0.13 |
| 2015-01 | 0.01 |
| 2015-02 | 0.0 |
| 2015-03 | 0.4 |
| 2015-04 | 0.64 |
| 2015-05 | 0.67 |
| 2015-06 | 0.61 |
| 2015-07 | 0.74 |
| 2015-08 | 0.86 |
| 2015-09 | 0.71 |
| 2015-10 | 0.7 |
| 2015-11 | 0.64 |
| 2015-12 | 0.6 |
| 2016-01 | 0.88 |
| 2016-02 | 0.8 |
| 2016-03 | 0.71 |
| 2016-04 | 0.68 |
| 2016-05 | 0.73 |
| 2016-06 | 0.15 |
| 2016-07 | 0.38 |
| 2016-08 | 0.41 |
| 2016-09 | 0.86 |
| 2016-10 | 0.88 |
| 2016-11 | 0.79 |
| 2016-12 | 0.81 |
| 2017-01 | 0.73 |
| 2017-02 | 0.93 |
| 2017-03 | 0.4 |
| 2017-04 | 0.71 |
| 2017-05 | 0.63 |
| 2017-06 | 0.91 |
| 2017-07 | 0.88 |
| 2017-08 | 0.96 |
| 2017-09 | 0.94 |
| 2017-10 | 0.86 |
| 2017-11 | 0.83 |
| 2017-12 | 0.99 |
| 2018-01 | 0.92 |
| 2018-02 | 0.5 |
| 2018-03 | 0.66 |
| 2018-04 | 0.64 |
| 2018-05 | 0.6 |
| 2018-06 | 0.88 |
| 2018-07 | 0.75 |
| 2018-08 | 0.7 |
| 2018-09 | 0.73 |
| 2018-10 | 0.63 |
| 2018-11 | 0.76 |
| 2018-12 | 0.65 |
| 2019-01 | 0.87 |
| 2019-02 | 0.81 |
| 2019-03 | 0.93 |
| 2019-04 | 0.41 |
| 2019-05 | 0.97 |
| 2019-06 | 0.87 |
| 2019-07 | 0.8 |
| 2019-08 | 0.81 |
| 2019-09 | 0.89 |
| 2019-10 | 0.74 |
| 2019-11 | 0.66 |
graphiqueTurning-point indicator
- Note: close to +1 (resp. –1), the indicator shows a favourable business climate (resp. unfavourable). The uncertainty area is between –0.3 and +0.3.
- Source: INSEE.
Revisions
Compared to its first estimate two months ago, the composite business climate indicator in wholesale trade in September 2019 have been revised upwards by one point. This revision results mainly from the integration of late responses from companies. The other climate indicators are unchanged.
For further information
The business climate and turning point indicators summarise the information provided by the surveys in manufacturing, services, trade (retail and wholesale), and construction. The business climate is built from 26 balances of opinion from these surveys while the turning point indicator is built from 14 balances of opinion from surveys in manufacturing, services and construction. The employment indicator is based on the 10 balances of employment, past and expected, from the surveys in manufacturing, services, retail trade and 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.
Next issue: 19 December 2019 at 08:45 am
Documentation
Abbreviated Methodology (pdf,130 Ko)
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The business climate and turning point indicators summarise the information provided by the surveys in manufacturing, services, trade (retail and wholesale), and construction. The business climate is built from 26 balances of opinion from these surveys while the turning point indicator is built from 14 balances of opinion from surveys in manufacturing, services and construction. The employment indicator is based on the 10 balances of employment, past and expected, from the surveys in manufacturing, services, retail trade and 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.
Next issue: 19 December 2019 at 08:45 am
