Business climates resist the Omicron variant

According to INSEE, France business climate deteriorated slightly in January (−2 pt to 107), but remains at a level well above its long-term average (100) and its pre-crisis level (106). There is an improvement in the industrial sector (+2 pt to 112), while climate in services, construction, retail trade and wholesale trade remain deteriorating.

Demand constraints remain historically low in industry and services and the lack of personnel is now almost as often mentioned among the production constraints; supply remains on 1st problem of the moment for the industry.