The business climate in France reached its lowest historical level in April, weighed down by the shutdown of the economy by the coronavirus crisis, yielding more than 30 points compared to March. This synthetic indicator, calculated from the responses of business leaders from the main market sectors, stood at 62 points in April, its lowest level since the launch of this indicator in 1980, said the National Institute of Statistics (Insee) in a press release. "The previous floor level was 69 and was reached in March 2009," he said. Its long-term average is 100 points.
INSEE warns that its April statistics may be "less precise than usual"
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The coronavirus crisis resulted in a historic plunge in the employment climate in April, which fell 25 points from March to stand at 70 points, also its lowest level since the 2008 crisis. The business climate suffered, moreover, a "very heavy fall" in services, yielding 37 points compared to March to stand at 55 points, also its historic lowest.
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INSEE warns that its statistics for the month of April may be "less precise than usual". "The responses from companies were collected between March 25 and April 17, 2020, during a period of general confinement, by internet only and without follow-up," said the institute, acknowledging that the response rate was "lower ( ...) than usual ".