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Business climate continues to decline

Business climate continues to decline

By Stephanie Horsman - September 18, 2020

The latest survey by IMSEE has revealed that the business climate continued to weaken in July, though retail trade and the auto commerce and repair sectors saw slight improvements.

The Principality’s official statistical agency reports that business in Monaco was still down as of July, but small improvements in certain sectors were recorded. The synthetic indicator won five points, accredited mainly to the yearly summer sales in July and higher intention of orders.

The balance of opinion on the general outlook for business continues to decline slightly and remains well below normal. Sales balances, after a brutal June which showed their lowest levels, did show a clear, though small, improvement.

Despite the rebound, expected sales are trending low and remain well below average. Inventory levels have fallen compared to long-term averages, whilst order intentions are improving, though at a lower level.

Prices are rising, and the forecast is that this will continue, while employment remains comparable to that of the previous month.

Customers’ payment deadlines are up compared to January when it was down by 23%, whilst those of the suppliers are growing more moderately, though again, below usual averages.

According to the report, people are still avoiding actively going into shops, as is displayed by low levels of attendance due to the health crisis. This is the same situation as the last two months.

 

 

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