The latest economic survey from the CCI Nantes St-Nazaire reveals that businesses in Loire-Atlantique are facing increased economic and political uncertainties. If, in the short term, visibility is reduced, managers generally maintain morale and certain prospects for the second half of the year remain encouraging, despite notable challenges.
In a tense economic context, marked by inflation and geopolitical uncertainties, businesses in Loire-Atlantique are feeling a slowdown in activity. The survey conducted in mid-September by the CCI among 948 companies shows a drop in the level of confidence of decision-makers, while highlighting sectoral contrasts. Business services and construction are resisting, while the wholesale trade and café-hotel-restaurant (CHR) branches are harder hit.
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However, despite this uncertainty, one notable fact stands out: 60% of business leaders surveyed display surprisingly positive morale. Although caution has replaced optimism, the main issues identified by managers, such as human resources management, cash flow and the decline in the order book, encourage constructive vigilance.
A second half marked by resilience
While uncertainty remains, the forecasts for the end of the year demonstrate apparent resilience. In fact, almost two thirds of those surveyed anticipate stability or a slight increase in their turnover. This observation is mainly tangible in services to businesses and individuals, as well as in construction. On the other hand, the CHR sector is still facing difficulties, with 34% of companies forecasting a decrease in their turnover. Concerning order books, the trend is generally stable, with 54% of companies planning to maintain or improve their level. However, there are marked disparities: while construction appears to be doing well, wholesale trade is seeing a more pronounced fall, with 63% of companies reporting a decline. Regarding human resources, recruitment intentions are encouraging, with 85% of respondents wishing to maintain or increase their workforce. Investments, however, remain cautious: only three out of ten companies plan to invest, particularly in their commercial strategy.
Stability and improvement in cash flow in the first half
The results for the first half, marked by the apparent stability of turnover and an improvement in cash flow, reveal the disparities which partly explain the challenges to come. Indeed, although 56% of companies have maintained or increased their turnover compared to 2023, this performance is mixed. The services and construction sector held up well, but CHR saw 62% of companies record a drop in their turnover, reflecting the fragility of this sector. In terms of cash flow, the situation has improved somewhat: 60% of companies consider it satisfactory, compared to 33% in the first half of 2023. This improvement is all the more marked in well-oriented areas such as construction and business services. On the other hand, the industry and the CHRs have experienced tensions. This dynamic is, however, qualified by a general decline in commercial margins, a direct consequence of inflation. Thus, 41% of companies report a reduction in their margins, with a particularly difficult situation for CHR, wholesale trade, as well as retail and personal services.
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