Wednesday, May 9, 2012

French business difficulties

Via INSEE, we have an interesting evolution of the main difficulties of the french manufacturing industry. In the quarter ending in July 2011, the share of businesses reporting difficulties of supply only or difficulties of demand only was the same, at 30%. In the last quarter, the shares are respectively 15% and 45%. The ugly graph below has the share of businesses reporting difficulties of supply and demand, supply only, and demand only, over the last four quarters:

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In the long run, it looks like the other graph below, with the quarter on the horizontal axis starting from January 08 to the last quarter, and the vertical axis being the share of businesses reporting specific difficulties. Yellow bars show the share of businesses reporting difficulties of demand only, orange bars report difficulties of supply only (purple bars in 09 is related to difficulties in asset liquidity).

Yellow bars are shares of businesses reporting difficulties of demand only, orange report difficulties of supply only. The purple in  09 report difficulties of liquid assets


Related, KPMG has a quick survey out here from March for small and medium firms showing another evolution between June 2009 and March 2012, with small firms increasingly reporting difficulties because of high suppliers cost (from 29% 3 years ago to 65% today) and a falling share of firms reporting difficulties due to a fall in turnover (from 63% to 38%).

Now there must be a way to square those two reports...

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