فرنسا Business Climate Indicator

France’s business climate indicator edged up to 98 in November 2025 from 97 in October, though it remained below its long-term average of 100. The improvement was boosted by the services sector, where the index jumped to 98 from 95, supported by stronger expectations for demand and moving closer to its long-term average of 100. Meanwhile, the indices for both building construction and wholesale trade were unchanged at 96 and 98, respectively. Ordering intentions edged lower, while the general business outlook improved noticeably. In contrast, the manufacturing index fell to 98 from 101, reflecting weaker personal production prospects and softer order books. The climate in retail trade and motor vehicle repair also declined to 97, amid diverging trends between stronger retail trade excluding motor vehicles and a further drop in the motor vehicle segment. The employment climate improved slightly to 96 from 95 in the previous month but still remained below the average since mid-2024.