The data published by INSEE showed that in September the business climate indicator increased by 1 point compared to August, reaching 98 points, and confirming economists' forecasts. It has moved closer to its long-term average (100). This improvement is due to the recovery in both retail and wholesale trade.
INSEE said that the manufacturing climate indicator remained at 99 points, as expected. The rebound in opinion about past production is offset by a deterioration in opinion about the level of order books. The indicator of the business climate in the service sector also remained unchanged (98 points). In the building construction sector, the business climate indicator fell to 100 points from 101 points in August. In retail trade (including trade and repair of vehicles), the business climate rose by 3 points to 100 points.
The data also showed that the employment climate index increased to 100 points from 98 points in August and has moved closer to its long-term average (100). This improvement is mainly the result of the rise in the balance of opinion regarding the expected change in the workforce size in services (excluding temporary work agencies).