France’s overall business climate improved for the third consecutive month in August 2026, rising to 98 from 95 in July. This marks its highest level since March and brings it closer to its long-term average of 100.
Retail trade recorded the strongest improvement, with its climate indicator climbing to 99 from 96—nearing its long-term average—driven by stronger ordering intentions and better assessments of past sales. Manufacturing sentiment also firmed, increasing to 103 from 101, largely on the back of a sharp improvement in personal production expectations.
The services climate inched up to 100 from 99, returning to its long-term average as views on past and expected activity, as well as anticipated demand, all improved. In contrast, the building construction climate remained stable at 96, still below its long-term average; more optimistic expectations for future activity were offset by unchanged assessments of past activity. The employment climate was also unchanged, holding at 99.
