In January 2025, the business climate in France is almost stable. At 95, the indicator that summarizes it, calculated from the responses of business leaders in the main commercial sectors of activity, gains one point (after rounding), and remains below its long-term average (100). The business climate is stable in services, construction and retail trade and is deteriorating in industry and wholesale trade.
In January 2025, the business climate is stable in services. At 96, the indicator that summarizes it is below its long-term average (100) for the third consecutive month. The balances on past activity and forecast demand deteriorate slightly but those on the general outlook improve slightly.
In the construction industry, the business climate is also stable. At 98, the synthetic indicator remains below its long-term average (100). The opinion of business leaders on their future activity is improving, but they are very pessimistic about the overall evolution of activity in the sector.
In retail trade (including automobile trade and repair), the business climate is also holding up. Behind this stability, the main variations in balances concern that on order intensions which is falling, and those on the planned workforce and past sales which are rebounding.
In industry, the business climate is declining. At 95, the indicator which summarizes it decreases and deviates from its long-term average (100). The balances of opinion on order books are falling sharply.
-Finally in wholesale trade, the bimonthly business climate indicator deteriorates again, losing two points compared to November 2024. At 91, the indicator which summarizes it reaches its lowest level since September 2014 (excluding the period of Covid). This deterioration reflects in particular the drop in the balance of opinion on deliveries received from abroad and past sales.
source: AOF
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France
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