The business climate improved slightly in February, “mainly” thanks to better prospects for activity in services, according to data published this Wednesday by the National Institute of Statistics and Economic Studies (Insee).
For the second month of 2023, the indicator stands at 103 points, one point above its January level and three points above its long-term average.
The rebound in February is explained by the renewed optimism in the services sector, where business leaders are more confident in their business prospects, but also in those of the sector as a whole.
The business climate improved for the third consecutive month in industry (104 points against 103 in January) and in retail trade (102 against 101).
Service companies pessimistic for employment
On the other hand, it deteriorated in construction (112 compared to 114 in January), but it remains well above its long-term average.
Finally, the work environment has also deteriorated very slightly (110 against 111 in January), without approaching the fateful mark of 100 points.
“This quasi-stability is the result of contrasting developments,” notes INSEE. If the service companies are satisfied with the recent evolution of the workforce in the sector, they are more pessimistic for employment in the coming months.
The rest of the sectors (industry, construction, retail trade) are not satisfied with the past evolution of their workforce.
Having deteriorated markedly following the Russian military offensive in Ukraine, launched in February 2022, the business climate stabilized at just above 100 in the summer of 2022 and has hardly changed since.
Source: BFM TV
