22 ° C
Breaking News

29 Covid cases 16 May, 6 hospitalised - 3 res, 45 home monitored, 11,922 recoveries, 57 deaths, 207 incidence rate, 71.7% vaccinated

Low business sentiment in April

Low business sentiment in April

By Stephanie Horsman - June 15, 2020

It’s been revealed in a not-so-shocking report that Monaco suffered with a massive downturn in business sentiment in April of this year due to the closure of “non-essential” businesses brought on by the coronavirus epidemic.

According to the latest report from IMSEE, many companies in the Principality saw a drastic slump in the month of April, particularly in the retail and auto repair sectors. The country’s synthetic indicator won three points in March, but the overall business picture remained at a very low level.

A synthetic indicator refers to a numerical measure reflecting the situation of an objective state of affairs. This is comprised of several components that are integrated into a single comprehensive value.

Despite the slight upturn, the general outlook of activity was judged very difficult, though as the times were exceptional, this was not unexpected. Sales hit an all-time low-point and balance sheets were particularly weak, sitting well below long term averages.

Businesses were still ordering supplies and stock in this period, but at a far lower level and prices of goods and services are expected to drop from the past averages in order to stimulate sales.

Employment prospects were also affected, remaining the same as the month before but on the whole lower.

All this gloom and doom is based on figures drawn from an exceptional period where many businesses were completely shuttered and unable to work at all. Prospects for future sales, whilst still uncertain, will certainly be on an upswing now that a semblance of “life as usual” is returning.



Sign up to our newsletter
Previous articleMonaco eases more restrictions on path to normality
Next articleInterview: Brandi DeCarli, co-founder of Farm from a Box


May 20, 2022 | Business & Finance

When the astronaut met the movie star

Cassandra Tanti

Monaco’s Shibuya Productions invited a special guest to the premier screening of Top Gun: Maverick at Cannes, fulfilling French astronaut Thomas Pesquet’s lifelong dream of meeting his film hero Tom Cruise.

Stephanie Horsman

The Monaco government has put out an olive branch to French taxi drivers, relaxing summertime quotas in an effort to stave off a protest which threatens to disrupt the Monaco Grand Prix.

May 19, 2022 | Business & Finance

Club Suisse welcomes German politician

Stephanie Horsman

The Club Suisse de Monaco recently invited former German government minister Julia Klöckner to speak on a variety of topics, including the effects of rising inflation in the EU.

Stephanie Horsman

Monaco welcomed four new Ambassadors to town this week, given a warm reception by first the Prince, then by the Minister for External Relations and Cooperation, who treated them to lunch.