September 25, 2023
In September 2023, the business climate remains at its long-term average
In September 2023, the business climate in France is stable. At 100, the indicator that synthesizes it, calculated from the responses of business managers from the main market sectors, remains for the fifth month in a row at its long-term average. This stability is the result of mixed movements in the different sectors, with in particular an improvement this month of the business situation in manufacturing industry, offset by a retreat in retail trade.
In manufacturing industry, the business climate has somewhat improved in September following a sharp deterioration in August, notably because of the increase in the balance of opinion regarding personal production expectations.
In wholesale trade, the bimonthly indicator of the business climate has improved compared to July, driven by the rebound in the balances of opinion on the merchandise received from abroad and the ordering intentions.
In services, the business climate indicator has held up, a little above its long-term average.
In building construction, the business climate is virtually stable, the business managers of the sector being less positive concerning their activity but more optimistic about the employment outlook.
Finally, in retail trade (including trade and repair of vehicles), the business climate has retreated, mainly because of a general business outlook considered less favourably.
The employment climate has rebounded
In September 2023, the employment climate has bounced back compared to August. At 104, the indicator has gained two points, after losing four points in August. It remains above its long-term average (100). This rebound results mostly from the improvement in the balance of opinion on the expected change in the workforce size in services (excluding temporary work agencies).
Source: INSEE
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