France’s business climate index eased slightly by -0.3 pts to 95.9 in September 2025, remaining below its long-term average for the 14th straight month, while the employment climate weakened further to its lowest level since 2015 (excluding COVID).
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The business climate in services improved to 97.8 (+2.0 pts), its first gain in four months, led by a rebound in information and communication.
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Wholesale trade rose to 98.2 (+1.6 pt), its strongest since March 2023, supported by better order books and merchandise inflows, though still below its long-term average.
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Building construction edged up to 97.8 (+0.3 pt), with stronger views on past activity but slightly weaker expectations for the future.
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Manufacturing slipped to 96.4 (-0.7 pt), as past production and order books declined, though personal production prospects recovered.
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The retail and motor vehicle trade business climate index fell -0.8 pt to 92 in September 2025, the lowest since April 2022, reflecting weaker sales and outlook, though motor vehicle trade rebounded slightly
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The employment climate dropped to 93.2 (-1.6 pts), down for a third consecutive month, mainly due to weaker future workforce expectations in services.
France
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