France - Real Retail Sales

The French National Institute of Statistics and Economic Studies (INSEE) reports monthly sales volume indexes for wholesale and retail trade (i.e., WTI and RSI).

Active:

• Classification: NAF Rev. 2, the localization of NACE Rev. 2
• Measurements:
  • Fixed-base volume index relative to 2021 (Vol. Index 2021=100) 
  • Value index (Index 2021=100)
• Adjustments:
  • Working day adjusted and seasonally adjusted (WDASA)
  • Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start dates:
  • 1999m1 or 2005m1 for RSI
  • Uniformly 2005m1 for WTI

Predecessors:

• 2015=100 - 2005m1 to 2023m12 ("_15")
• 2010=100, new sample - 1999m1 to 2017m12 ("_10") 
• 2010=100, old sample - 1995m1 to 2015m12 (no archive specifier) 
• 2005=100, NAF Rev. 2 - 1995m1 to 2012m12 ("05") 
• 2005=100, NAF Rev. 1 - 1995m1 to 2008m12

Global concept aliases:

• WRT.IFRA
• WRT$.IFRA

Sales volume indices are available by activity. Classification is the French classification of activities (NAF Rev. 2), the localization of NACE Rev. 2. The data set covers the following sectors:

• Trade and repair of motor vehicles and motorcycles (Division 45)
• Wholesale trade, except for motor vehicles and motorcycles (Division 46)
• Retail trade, except for motor vehicles and motorcycles (Division 47)
• Sections (service sectors): H, I, J, L, M, N, R, S
• Sections (industry and construction): B, C, D, E, F

Sales volume indices fall under the European regulation on short-terms statistics – the Council Regulation "STS No 1165/98" of 19 May 1998, modified by subsequent amendments. The indices are constructed from a tax source (CA3 form). This form is completed by all enterprises for the payment of value added tax (VAT) each month. Turnover indices fro export are based on the total amount of turnover reported by companies on exports outside of the EU and deliveries supplied within the EU. The indices are calculated from monthly returns of companies having their VAT Headquartered in France.

The raw data indices are calculated at the most detailed level of the classification of activities French: subclasses of NAF rev. 2. At this level, the index for month "m" is calculated by chaining the index of "m-12" to the change in turnover between "m-12" and "m". All companies that reported data in month "m" are included in the calculation. 

Calculations also take into account the business demography such as business failures, change of sector, births, and coporate resturcturing. These sturctural changes will most likely affect the sectoral outline of the VAT declarations.

The 2015=100 indices include a two-weighting system. Previous bases used a constant-weight system. 2010 weights are used for aggregation of indices between 1999 and 2012. 2015 weights are used for periods after 2012. Both series are then chained with a link coefficient on the year 2013. 

Annual weights are based on output by industry at basic prices that are included in the national accounts. This output includes subsidies on products, but does not include taxes. 

Geography coverage is France: including the overseas departments and excluding French Guyana and Mayotte. French Guyana and Mayotte are not liable for VAT.

Sales volume indices are defined as the ratio of the turnover index in value to the associated price deflator. Production price and consumer price indices that are calculated by Insee are used as deflators. Note that the geography coverage for these indices is France: including all overseas departments. Once the 166 sub-classes in the retail sector are calculated, the indices for higher levels are obtained by aggregating. 

In retail trade and trade and repair of motor vehicles and motorcycles, price indices that are used as deflators are obtained by aggregating CPI of the associated products. Sectors and products are cross-references between the NAF Rev. 2 classification and the Classification of Individual Consumption by Purpose (COICOP). Since CPI includes taxes, it is corrected with VAT rates to make it duty-free. 

For wholesale trade volume indices, the following Insee price indices are used: IPGA (Wholesale food price indices), IPAMPA (Monthly agricultural means of production purchasing price indices), IPPAP (Monthly agricultural producer price indices), IPPI (French industry production price indices) and consumer price indices. Each sectoral index is a weighted average of the various indices that represent the products within the sector.

Moody's Analytics supplements

We have back-extended the RSI general index (volume, WDASA variant) to 1999m1.

Yes.

Also, the dataset is reweighted and rebased every fifth years.

Further reading

At the source:

• Methodology
• NAF Rev. 2
• Sales volume in wholesale and retail trade: Former base (2015) - Stopped series
• Sales volume in wholesale and retail trade: Base 2021 - Wholesale trade, retail trade, repair of motor vehicles and motorcycles
• Turnover index in wholesale and retail trade: Base 2021 - Wholesale trade, retail trade, repair of motor vehicles and motorcycles

• Sep 2005 - Initial version.
• Jun 2009 - Reclassified.
• Aug 2009 - Rebased.
• Apr 2013 - Rebased to 2010.
• May 2016 - Sample changed.
• Apr 2018 - Rebased to 2015.
• 22 May 2024, Phillip Thorne - Rebased to 2021: Properties.