The business climate picked up slightly in September, notes INSEE

The business climate recovered slightly in September, after two months of decline, still standing at a “high level“, Insee said Thursday. This rebound is due to greater optimism among business leaders in the services and construction sector, while the outlook is deteriorating in industry and retail trade, details the National Institute of Statistics.

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Calculated from the opinions of business leaders on their activity, the indicator which summarizes the business climate in France thus rose to 111 points in September, still above its long-term average of 100. and its level before the Covid-19 crisis which was 106, it is specified.

In the services sector, the indicator is improving by one point, with business leaders questioned saying they are more optimistic about their outlook for activity and demand. Conversely, the business climate is deteriorating markedly in industry (-4 points), with executives notably reporting production difficulties in this period of stress on raw materials. The same goes for the retail trade (-3 points), with companies having once again lowered their past production level. Excluding automobiles, the business climate in retail is slipping below its long-term level.

In addition, INSEE indicates that the employment climate is “a little less favorable“, Down two points, due to difficulties reported in the services, excluding temporary. But at 106 points, he also remains above his long-term average.

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