Informations Rapides ·
25 July 2024 · n° 182
In July 2024, the business climate in services has darkened very sharply Monthly survey of services - July 2024
According to the business managers surveyed in July 2024, the business climate in services has darkened and has reached its lowest level since April 2021. At 95, the indicator that synthesizes it has lost six points and stands well below its long-term average (100). This deterioration is mainly the result of the sharp retreat in the forward-looking balances of opinion, especially on the demand.
The seasonal coefficients as well as the parameters of the composite indicators have been updated in July 2024. That has led to revisions in the set of results previously published from this survey. Those revisions are for the most part quite minor and have no impact on the analysis of the business situation.
According to the business managers surveyed in July 2024, the business climate in services has darkened and has reached its lowest level since April 2021. At 95, the indicator that synthesizes it has lost six points and stands well below its long-term average (100). This deterioration is mainly the result of the sharp retreat in the forward-looking balances of opinion, especially on the demand.
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2024-07 | 95.2 |
| 2024-06 | 101.0 |
| 2024-05 | 102.4 |
| 2024-04 | 100.1 |
| 2024-03 | 101.7 |
| 2024-02 | 99.8 |
| 2024-01 | 101.1 |
| 2023-12 | 100.2 |
| 2023-11 | 100.0 |
| 2023-10 | 100.4 |
| 2023-09 | 101.3 |
| 2023-08 | 101.6 |
| 2023-07 | 101.5 |
| 2023-06 | 101.5 |
| 2023-05 | 101.4 |
| 2023-04 | 102.9 |
| 2023-03 | 103.5 |
| 2023-02 | 105.2 |
| 2023-01 | 104.0 |
| 2022-12 | 103.5 |
| 2022-11 | 103.8 |
| 2022-10 | 104.9 |
| 2022-09 | 105.5 |
| 2022-08 | 106.5 |
| 2022-07 | 106.0 |
| 2022-06 | 107.3 |
| 2022-05 | 108.9 |
| 2022-04 | 108.2 |
| 2022-03 | 107.8 |
| 2022-02 | 111.9 |
| 2022-01 | 104.9 |
| 2021-12 | 107.2 |
| 2021-11 | 113.9 |
| 2021-10 | 113.1 |
| 2021-09 | 110.4 |
| 2021-08 | 108.8 |
| 2021-07 | 111.0 |
| 2021-06 | 112.5 |
| 2021-05 | 106.8 |
| 2021-04 | 91.5 |
| 2021-03 | 93.2 |
| 2021-02 | 87.7 |
| 2021-01 | 90.8 |
| 2020-12 | 89.3 |
| 2020-11 | 75.7 |
| 2020-10 | 87.6 |
| 2020-09 | 93.8 |
| 2020-08 | 93.7 |
| 2020-07 | 88.7 |
| 2020-06 | 77.6 |
| 2020-05 | 49.6 |
| 2020-04 | 38.3 |
| 2020-03 | 91.7 |
| 2020-02 | 105.8 |
| 2020-01 | 105.9 |
| 2019-12 | 106.4 |
| 2019-11 | 105.8 |
| 2019-10 | 105.5 |
| 2019-09 | 105.9 |
| 2019-08 | 105.4 |
| 2019-07 | 104.9 |
| 2019-06 | 105.7 |
| 2019-05 | 105.4 |
| 2019-04 | 105.5 |
| 2019-03 | 104.4 |
| 2019-02 | 103.6 |
| 2019-01 | 103.5 |
| 2018-12 | 101.7 |
| 2018-11 | 103.5 |
| 2018-10 | 103.2 |
| 2018-09 | 104.6 |
| 2018-08 | 104.3 |
| 2018-07 | 104.6 |
| 2018-06 | 104.6 |
| 2018-05 | 104.3 |
| 2018-04 | 105.8 |
| 2018-03 | 106.7 |
| 2018-02 | 106.8 |
| 2018-01 | 107.6 |
| 2017-12 | 108.7 |
| 2017-11 | 107.1 |
| 2017-10 | 106.6 |
| 2017-09 | 106.7 |
| 2017-08 | 106.7 |
| 2017-07 | 104.0 |
| 2017-06 | 103.5 |
| 2017-05 | 102.8 |
| 2017-04 | 103.1 |
| 2017-03 | 103.1 |
| 2017-02 | 102.8 |
| 2017-01 | 101.7 |
| 2016-12 | 103.5 |
| 2016-11 | 100.9 |
| 2016-10 | 100.8 |
| 2016-09 | 100.7 |
| 2016-08 | 100.1 |
| 2016-07 | 100.3 |
| 2016-06 | 99.1 |
| 2016-05 | 100.7 |
| 2016-04 | 98.3 |
| 2016-03 | 99.5 |
| 2016-02 | 99.8 |
| 2016-01 | 100.2 |
| 2015-12 | 97.1 |
| 2015-11 | 99.2 |
| 2015-10 | 99.4 |
| 2015-09 | 97.6 |
| 2015-08 | 98.5 |
| 2015-07 | 97.4 |
| 2015-06 | 96.8 |
| 2015-05 | 95.4 |
| 2015-04 | 93.9 |
| 2015-03 | 92.3 |
| 2015-02 | 91.4 |
| 2015-01 | 91.1 |
| 2014-12 | 91.3 |
| 2014-11 | 91.2 |
| 2014-10 | 91.1 |
| 2014-09 | 91.0 |
| 2014-08 | 91.5 |
| 2014-07 | 92.4 |
| 2014-06 | 92.2 |
| 2014-05 | 92.2 |
| 2014-04 | 93.3 |
| 2014-03 | 93.1 |
| 2014-02 | 92.2 |
| 2014-01 | 92.2 |
| 2013-12 | 90.9 |
| 2013-11 | 92.4 |
| 2013-10 | 91.8 |
| 2013-09 | 92.3 |
| 2013-08 | 88.7 |
| 2013-07 | 86.6 |
| 2013-06 | 85.9 |
| 2013-05 | 84.5 |
| 2013-04 | 83.2 |
| 2013-03 | 84.1 |
| 2013-02 | 87.1 |
| 2013-01 | 88.1 |
| 2012-12 | 87.1 |
| 2012-11 | 85.6 |
| 2012-10 | 86.0 |
| 2012-09 | 87.1 |
| 2012-08 | 87.4 |
| 2012-07 | 89.5 |
| 2012-06 | 90.1 |
| 2012-05 | 92.0 |
| 2012-04 | 95.6 |
| 2012-03 | 93.2 |
| 2012-02 | 91.9 |
| 2012-01 | 92.4 |
| 2011-12 | 94.5 |
| 2011-11 | 95.0 |
| 2011-10 | 97.2 |
| 2011-09 | 98.3 |
| 2011-08 | 100.5 |
| 2011-07 | 105.1 |
| 2011-06 | 107.1 |
| 2011-05 | 107.4 |
| 2011-04 | 108.8 |
| 2011-03 | 110.3 |
| 2011-02 | 109.2 |
| 2011-01 | 107.2 |
| 2010-12 | 106.8 |
| 2010-11 | 104.8 |
| 2010-10 | 102.9 |
| 2010-09 | 101.7 |
| 2010-08 | 100.7 |
| 2010-07 | 99.2 |
| 2010-06 | 98.3 |
| 2010-05 | 99.3 |
| 2010-04 | 97.8 |
| 2010-03 | 94.4 |
| 2010-02 | 94.3 |
| 2010-01 | 94.0 |
| 2009-12 | 92.6 |
| 2009-11 | 92.2 |
| 2009-10 | 90.6 |
| 2009-09 | 87.5 |
| 2009-08 | 84.2 |
| 2009-07 | 81.6 |
| 2009-06 | 77.8 |
| 2009-05 | 73.2 |
| 2009-04 | 68.9 |
| 2009-03 | 68.4 |
| 2009-02 | 73.5 |
| 2009-01 | 74.7 |
| 2008-12 | 77.4 |
| 2008-11 | 80.2 |
| 2008-10 | 84.2 |
| 2008-09 | 92.9 |
| 2008-08 | 94.9 |
| 2008-07 | 96.4 |
| 2008-06 | 100.8 |
| 2008-05 | 104.1 |
| 2008-04 | 106.6 |
| 2008-03 | 108.4 |
| 2008-02 | 108.4 |
| 2008-01 | 110.3 |
| 2007-12 | 109.0 |
| 2007-11 | 110.1 |
| 2007-10 | 110.0 |
| 2007-09 | 111.4 |
| 2007-08 | 112.2 |
| 2007-07 | 113.1 |
| 2007-06 | 112.6 |
| 2007-05 | 112.9 |
| 2007-04 | 113.0 |
| 2007-03 | 113.3 |
| 2007-02 | 112.4 |
| 2007-01 | 110.9 |
| 2006-12 | 111.2 |
| 2006-11 | 113.0 |
| 2006-10 | 110.7 |
| 2006-09 | 110.6 |
| 2006-08 | 110.4 |
| 2006-07 | 110.3 |
| 2006-06 | 109.1 |
| 2006-05 | 110.4 |
| 2006-04 | 107.7 |
| 2006-03 | 107.4 |
| 2006-02 | 106.2 |
| 2006-01 | 109.0 |
| 2005-12 | 107.0 |
| 2005-11 | 106.5 |
| 2005-10 | 108.3 |
| 2005-09 | 106.7 |
| 2005-08 | 107.1 |
| 2005-07 | 107.5 |
| 2005-06 | 108.2 |
| 2005-05 | 106.1 |
| 2005-04 | 108.0 |
| 2005-03 | 108.2 |
| 2005-02 | 106.3 |
| 2005-01 | 106.4 |
graphiqueBusiness climate composite indicator
- Source: INSEE
In July 2024, the business managers in services are very pessimistic about the business outlook, general as well as personal
In July 2024, the business managers in services are a lot more pessimistic than in the previous month about the general business outlook for the sector: the associated balances of opinion has sharply moved back and has reached its lowest level since April 2021. The balance related to their personal business outlook has also sharply deteriorated, as well as the one associated to the expected demand, which has reached its lowest level since February 2021. These three balances stand below their long-term average. Conversely, the balance related to the activity over the past three months has slightly rebounded but remains below its average level.
The balances related to the recent and expected change of the selling prices have diminished, moving closer to their respective average.
The balance on the economic uncertainty felt has sharply risen for its part and has moved back above its long-term average.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2024-07 | 2.8 |
| 2024-06 | 4.3 |
| 2024-05 | 2.8 |
| 2024-04 | 7.2 |
| 2024-03 | 8.2 |
| 2024-02 | 7.7 |
| 2024-01 | 6.8 |
| 2023-12 | 7.0 |
| 2023-11 | 3.7 |
| 2023-10 | 5.3 |
| 2023-09 | 7.6 |
| 2023-08 | 6.9 |
| 2023-07 | 6.3 |
| 2023-06 | 6.2 |
| 2023-05 | 7.0 |
| 2023-04 | 13.4 |
| 2023-03 | 14.1 |
| 2023-02 | 15.8 |
| 2023-01 | 19.1 |
| 2022-12 | 17.3 |
| 2022-11 | 12.4 |
| 2022-10 | 12.2 |
| 2022-09 | 10.4 |
| 2022-08 | 10.3 |
| 2022-07 | 10.9 |
| 2022-06 | 10.9 |
| 2022-05 | 9.9 |
| 2022-04 | 11.6 |
| 2022-03 | 7.7 |
| 2022-02 | 8.0 |
| 2022-01 | 7.4 |
| 2021-12 | 6.5 |
| 2021-11 | 6.3 |
| 2021-10 | 4.4 |
| 2021-09 | 3.3 |
| 2021-08 | 4.0 |
| 2021-07 | 3.8 |
| 2021-06 | 0.6 |
| 2021-05 | -1.1 |
| 2021-04 | -8.6 |
| 2021-03 | -7.6 |
| 2021-02 | -11.5 |
| 2021-01 | -9.8 |
| 2020-12 | -7.3 |
| 2020-11 | -13.0 |
| 2020-10 | -9.0 |
| 2020-09 | -3.4 |
| 2020-08 | -5.4 |
| 2020-07 | -8.6 |
| 2020-06 | -12.6 |
| 2020-05 | -22.9 |
| 2020-04 | -23.1 |
| 2020-03 | -3.4 |
| 2020-02 | 0.5 |
| 2020-01 | 0.1 |
| 2019-12 | 0.8 |
| 2019-11 | -0.4 |
| 2019-10 | 1.6 |
| 2019-09 | -1.1 |
| 2019-08 | -1.1 |
| 2019-07 | 0.1 |
| 2019-06 | 0.2 |
| 2019-05 | -2.0 |
| 2019-04 | -2.5 |
| 2019-03 | -1.0 |
| 2019-02 | -2.3 |
| 2019-01 | -2.2 |
| 2018-12 | 0.3 |
| 2018-11 | -2.5 |
| 2018-10 | -2.9 |
| 2018-09 | -2.1 |
| 2018-08 | -0.7 |
| 2018-07 | -6.8 |
| 2018-06 | -4.8 |
| 2018-05 | -2.2 |
| 2018-04 | -3.0 |
| 2018-03 | -3.2 |
| 2018-02 | -3.4 |
| 2018-01 | -2.4 |
| 2017-12 | -3.3 |
| 2017-11 | -2.7 |
| 2017-10 | -2.5 |
| 2017-09 | -2.4 |
| 2017-08 | -5.6 |
| 2017-07 | -7.0 |
| 2017-06 | -4.2 |
| 2017-05 | -5.1 |
| 2017-04 | -5.3 |
| 2017-03 | -3.7 |
| 2017-02 | -3.2 |
| 2017-01 | -6.3 |
| 2016-12 | -5.5 |
| 2016-11 | -7.7 |
| 2016-10 | -6.8 |
| 2016-09 | -4.8 |
| 2016-08 | -5.2 |
| 2016-07 | -4.7 |
| 2016-06 | -6.8 |
| 2016-05 | -6.2 |
| 2016-04 | -4.9 |
| 2016-03 | -5.1 |
| 2016-02 | -4.6 |
| 2016-01 | -8.5 |
| 2015-12 | -8.9 |
| 2015-11 | -5.8 |
| 2015-10 | -5.9 |
| 2015-09 | -7.5 |
| 2015-08 | -6.4 |
| 2015-07 | -6.9 |
| 2015-06 | -6.1 |
| 2015-05 | -6.2 |
| 2015-04 | -7.8 |
| 2015-03 | -9.8 |
| 2015-02 | -9.7 |
| 2015-01 | -11.4 |
| 2014-12 | -11.0 |
| 2014-11 | -10.3 |
| 2014-10 | -9.5 |
| 2014-09 | -10.6 |
| 2014-08 | -9.0 |
| 2014-07 | -9.2 |
| 2014-06 | -9.3 |
| 2014-05 | -9.9 |
| 2014-04 | -9.6 |
| 2014-03 | -10.8 |
| 2014-02 | -11.0 |
| 2014-01 | -8.4 |
| 2013-12 | -9.4 |
| 2013-11 | -8.5 |
| 2013-10 | -10.1 |
| 2013-09 | -10.4 |
| 2013-08 | -10.7 |
| 2013-07 | -12.3 |
| 2013-06 | -12.0 |
| 2013-05 | -12.3 |
| 2013-04 | -12.3 |
| 2013-03 | -12.0 |
| 2013-02 | -11.9 |
| 2013-01 | -9.8 |
| 2012-12 | -9.2 |
| 2012-11 | -9.6 |
| 2012-10 | -11.0 |
| 2012-09 | -7.6 |
| 2012-08 | -7.8 |
| 2012-07 | -4.3 |
| 2012-06 | -6.0 |
| 2012-05 | -5.6 |
| 2012-04 | -4.2 |
| 2012-03 | -0.7 |
| 2012-02 | -3.4 |
| 2012-01 | 0.5 |
| 2011-12 | -2.3 |
| 2011-11 | -4.3 |
| 2011-10 | -3.0 |
| 2011-09 | -1.6 |
| 2011-08 | -1.5 |
| 2011-07 | -0.3 |
| 2011-06 | 0.5 |
| 2011-05 | 5.1 |
| 2011-04 | 2.4 |
| 2011-03 | 3.5 |
| 2011-02 | 3.3 |
| 2011-01 | -0.1 |
| 2010-12 | 0.0 |
| 2010-11 | -1.1 |
| 2010-10 | -0.9 |
| 2010-09 | -3.1 |
| 2010-08 | -3.8 |
| 2010-07 | -7.7 |
| 2010-06 | -5.4 |
| 2010-05 | -5.7 |
| 2010-04 | -7.8 |
| 2010-03 | -7.5 |
| 2010-02 | -9.0 |
| 2010-01 | -8.5 |
| 2009-12 | -10.1 |
| 2009-11 | -10.1 |
| 2009-10 | -9.4 |
| 2009-09 | -12.4 |
| 2009-08 | -14.4 |
| 2009-07 | -18.5 |
| 2009-06 | -15.4 |
| 2009-05 | -17.8 |
| 2009-04 | -17.7 |
| 2009-03 | -17.1 |
| 2009-02 | -13.1 |
| 2009-01 | -13.1 |
| 2008-12 | -13.8 |
| 2008-11 | -9.6 |
| 2008-10 | -2.7 |
| 2008-09 | 0.3 |
| 2008-08 | 1.5 |
| 2008-07 | 3.4 |
| 2008-06 | 3.2 |
| 2008-05 | 3.4 |
| 2008-04 | 3.9 |
| 2008-03 | 2.6 |
| 2008-02 | 2.1 |
| 2008-01 | 2.2 |
| 2007-12 | 3.0 |
| 2007-11 | 2.7 |
| 2007-10 | 1.3 |
| 2007-09 | 2.3 |
| 2007-08 | 3.2 |
| 2007-07 | 3.4 |
| 2007-06 | 2.1 |
| 2007-05 | 2.9 |
| 2007-04 | 2.2 |
| 2007-03 | 1.5 |
| 2007-02 | 1.1 |
| 2007-01 | 1.8 |
graphiqueExpected prices in services
- Source: INSEE
In July 2024, the balance of opinion on the expected workforce size over the last three months has slightly rebounded but remains below its average level. The one on the change in the workforce size over the next three months has strongly deteriorated, reaching its lowest level since February 2021.
The share of business managers reporting difficulties in recruitment has rebounded compared to the previous quarter, for the first time for more than a year, and stands above its long-term average.
The quarterly balance of opinion on the expected investment for the next three months is virtually stable, below its average.
Concerning the obstacles preventing them from increasing their activity, the business managers in services are a little fewer compared to April to report difficulties of supply only and the proportion of business managers reporting difficulties of demand only is virtually stable; those indicators stand below their long-term average.
The quarterly balance on the cash position is stable compared to April 2024, just above its average level.
tableauEconomic outlook in the services sector
| Average* | Apr. 2024 | May 2024 | Jun. 2024 | Jul. 2024 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 100 | 102 | 101 | 95 |
| General outlook | -7 | -6 | -5 | -5 | -10 |
| Past activity | 2 | -2 | 5 | -4 | -1 |
| Expected activity | 2 | -3 | 4 | 1 | -3 |
| Expected demand | 0 | 3 | 2 | 4 | -10 |
| Past selling prices | -3 | 7 | 9 | 5 | 2 |
| Expected selling prices | -2 | 7 | 3 | 4 | 3 |
| Past employment | 2 | -3 | 1 | -8 | -7 |
| Past employment except temporary work agencies | 0 | 1 | 0 | -3 | -6 |
| Expected employment | 2 | 0 | 0 | 1 | -10 |
| Expected employment except temporary work agencies | 0 | -2 | 2 | -2 | -5 |
| Cash position*** | -11 | -10 | -10 | ||
| Difficulties | |||||
| difficulties of supply and demand (in %)*** | 9 | 8 | 12 | ||
| difficulties of supply only (in %)*** | 24 | 20 | 18 | ||
| difficulties of demand only (in %)*** | 28 | 19 | 18 | ||
| Difficulties in recruitment (in %)*** | 32 | 41 | 46 | ||
| Expected investments*** | 3 | 1 | 0 | ||
| Economic uncertainty felt** | 12 | 11 | 11 | 9 | 14 |
- * 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
- *** Balance of opinion from the quarterly section of the survey
- Source: INSEE, monthly business survey in services.
The business climate is below its long-term average in all services sub-sectors, except for accommodation and food services
Administrative and support services is the sub-sector in which the business climate has deteriorated the most. The associated indicator has reached its lowest level since April 2021, well below its long-term average. The forward-looking balances of opinion on the demand, on the activity and especially on the workforce size have strongly diminished, below their respective average. The latter balance has reached its lowest level since May 2020. Conversely, the balances of opinion on the past activity and on the past workforce size have sharply increased.
The business climate indicator in information-communication has sharply diminished and has moved below its long-term average for the first time since March 2021. In particular, the balance of opinion on the expected demand has fallen and has moved well below its average level.
In real estate activities, the business climate indicator has strongly deteriorated too. The balances of opinion on the general business outlook, on the expected activity and on the expected demand have decreased, while those on the past activity and on the expected workforce size have slightly increased.
In professional, scientific and technical activities, the business climate indicator has deteriorated too and has moved below its average level. This retreat results particularly from the sharp decrease of the balances of opinion on the general business outlook, on the activity (past as well as expected), on the demand and on the expected workforce size.
In road freight transport, the business climate indicator is virtually stable below its long term-average. The balances on the general business outlook and on the past activity have sharply diminished, while those on the expected demand and on the past workforce size have rebounded.
Finally, the business climate in accommodation and food services is virtually stable for its part and stands above its average level. While the balance on the expected activity has sharply decreased, the one on the general business outlook has improved, well above its average. The one on the expected workforce size has diminished sharply too, reaching its lowest level since April 2021.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Average* | Apr. 2020 | May 2020 | Jun. 2020 | Jul. 2020 |
|---|---|---|---|---|---|
| Road freight transport (8%) | |||||
| Composite indicator | 100 | 97 | 100 | 98 | 97 |
| General outlook | -18 | -28 | -25 | -20 | -27 |
| Past activity | -6 | -12 | -8 | -12 | -19 |
| Expected activity | -7 | -12 | -2 | -10 | -10 |
| Expected demand | -9 | -9 | -12 | -14 | -12 |
| Past employment | -5 | -9 | -8 | -6 | -3 |
| Expected employment | -6 | -10 | -8 | -10 | -11 |
| Accommodation and food service activities (8%) | |||||
| Composite indicator | 100 | 102 | 109 | 104 | 103 |
| General outlook | -13 | -8 | -3 | -5 | -3 |
| Past activity | -7 | 9 | 4 | -2 | 2 |
| Expected activity | -7 | -11 | 1 | -3 | -9 |
| Expected demand | -9 | -8 | 10 | -5 | -6 |
| Past employment | -5 | 9 | 8 | 0 | -4 |
| Expected employment | -6 | -8 | 1 | -9 | -13 |
| Information and communication (29%) | |||||
| Composite indicator | 100 | 102 | 107 | 103 | 97 |
| General outlook | 0 | 2 | 4 | 2 | -3 |
| Past activity | 8 | -3 | 26 | 6 | 11 |
| Expected activity | 9 | 8 | 25 | 18 | 14 |
| Expected demand | 10 | 24 | 20 | 22 | -7 |
| Past employment | 6 | 2 | 6 | 0 | -5 |
| Expected employment | 10 | 9 | 10 | 7 | 1 |
| Real estate activities (10%) | |||||
| Composite indicator | 100 | 97 | 97 | 97 | 92 |
| General outlook | -4 | -5 | -6 | -1 | -8 |
| Past activity | 6 | 4 | 1 | 2 | 5 |
| Expected activity | 6 | -3 | 7 | 4 | 0 |
| Expected demand | 1 | 1 | 8 | 0 | -3 |
| Past employment | 2 | 2 | -10 | -8 | -7 |
| Expected employment | 3 | 3 | 2 | 0 | 2 |
| Professional, scientific and technical activities (25%) | |||||
| Composite indicator | 100 | 97 | 100 | 100 | 96 |
| General outlook | -8 | -11 | -5 | -7 | -12 |
| Past activity | -1 | -6 | -5 | -3 | -7 |
| Expected activity | -2 | -10 | -5 | -5 | -7 |
| Expected demand | -5 | -8 | -6 | -6 | -11 |
| Past employment | 1 | 0 | -4 | -3 | -3 |
| Expected employment | 1 | -1 | 2 | 3 | -1 |
| Administrative and support service activities (18%) | |||||
| Composite indicator | 100 | 97 | 94 | 98 | 91 |
| General outlook | -3 | -5 | -4 | -3 | -5 |
| Past activity | 5 | 1 | 1 | -9 | -5 |
| Expected activity | 5 | 1 | -6 | 1 | -10 |
| Expected demand | 3 | -4 | -8 | 2 | -6 |
| Past employment | 7 | -10 | 0 | -19 | -9 |
| Expected employment | 7 | 7 | -4 | 6 | -28 |
- 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)
- Source: INSEE, monthly business survey in services.
Revision
The business climate indicator in services of June 2024 has not been revised (after rounding).
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 June 2024 and 22 July 2024; 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: 23 August 2024 at 8:45 am.
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
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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 June 2024 and 22 July 2024; 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: 23 August 2024 at 8:45 am.