Current Account in France
France - Current AccountGDP growth stagnated in quarter-on-quarter terms in Q1 due to a contraction in private spending. Turning to Q2, the war in Ukraine is taking a toll on the economy: Record-high inflation and subdued consumer confidence in April is likely to keep a lid on household consumption. Similarly, business confidence moderated further in May. That said, the composite PMI rose to a four-year high in April and remained upbeat in May, bolstered by the loosening of pandemic-related restrictions. In politics, Emmanuel Macron appointed Élisabeth Borne as the prime minister on 16 May after a cabinet reshuffle. Lastly, in a recent report, the European Commission said that France had successfully managed the pandemic crisis, but had strained public finances as a result. In order to ensure sustainability of public finances, the Commission recommended that France simplifies its pension system.
France - Current Account Data
|Current Account (% of GDP)||-0.4||-0.5||-0.7||-0.6||-0.7|
5 years of economic forecasts for more than 30 economic indicators.
France Current Account Chart
Source: Bank of France and FocusEconomics calculations.
|Bond Yield||0.08||0.46 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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January 27, 2023
Consumer confidence fell to 80.0 in January from December's 81.0, meaning the index remained below the 100-threshold, indicating pessimism among consumers. The slightly lower print was driven by households’ worsened appraisals of their personal situations: Households’ sentiment regarding their past and future financial situations worsened, as well as that regarding current and future saving opportunities.
January 24, 2023
Business confidence among manufacturing firms rose to 103.1 in January from December's 102.1.
January 24, 2023
The S&P Global Flash Composite Purchasing Managers’ Index (PMI) came in at 49.0 in January, down from December's 49.1, marking its third straight month in contractionary territory.
January 13, 2023
Harmonized inflation came in at 6.7% in December, down from November’s 7.1%.
January 10, 2023
Industrial output increased 2.0% in month-on-month seasonally adjusted terms in November, which contrasted October's 2.5% decrease.