Economy in Nouvelle-Aquitaine: Activity in Decline, No Signs of Recovery and Morale of Entrepreneurs at Half Mast

INSEE has just published its latest study on the economic situation in Nouvelle-Aquitaine. It is deteriorating and a rebound is uncertain to say the least

The signs are unmistakable. A few days ago, the Banque de France Nouvelle-Aquitaine and the Chamber of Commerce and Industry (CCI) of Nouvelle-Aquitaine revealed the results of their latest studies and opinion surveys concerning business leaders. As a result, the region’s bosses displayed very low morale: “only 22% of leaders are confident in the immediate future – this is historically low and above all it is 4% less than at the same period in 2024”, confided the president of the regional CCI, Jean-François Clédel.

This low morale of French leaders and households in general will undoubtedly not improve after the publication by the National Institute of Statistics and Economic Studies (Insee), this Thursday 25th September of the latest figures on the economic situation of the region.

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Number of paid hours: the indicator remains red

If, for the moment, the unemployment rate is only increasing marginally (6.8%) and the employment rate of Nouvelle-Aquitaine residents is almost stable (+0.1% or 1,300 more jobs), this study highlights an indicator which testifies to the slowdown of the economy and business activity in the region. At the end of the second quarter of 2025, the number of paid hours fell by 0.5% compared to the same period in 2024. Nationally, the decline is slightly less (-0.4%). For the region, the slowdown in economic activity is all the clearer as the number of paid hours had already fallen by 0.8% at the end of the first quarter of this year.

The erosion of activity and salaried employment in construction continues. Even if the number of housing starts is increasing in this sector, such as business creations. In industry, the decline in activity compared to last year continues. At the same time, salaried employment decreased slightly compared to the previous quarter, particularly in the manufacturing of transport equipment.

“Few signs of recovery”

Finally, in the tertiary sector – from commerce to administration, including transport, financial and real estate activities, services to businesses and individuals, education, health and social action –, activity remains down over one year. However, salaried employment increased slightly over one quarter, a development driven largely by the accommodation and catering sector. It should therefore be noted that in the second quarter of 2025, hotel occupancy increased by 2% compared to the same period in 2024, with 4 million overnight stays. An increase driven in particular by foreign tourists, especially Spaniards and Americans, with +33% of overnight stays for these two audiences. Finally, the household services sector is also growing over one quarter.

In an international and national economic context full of uncertainties, INSEE finally believes that the regional economy is showing “few signs of recovery”.