Current Account in France
France - Current Account (billions of Euros)
GDP 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 (EUR bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | -8.1 | -10.9 | -17.6 | -13.2 | -16.2 |
France Current Account (EUR bn) Chart
Source: Bank of France and FocusEconomics calculations.
France Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.08 | 0.46 % | Jan 01 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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France: Consumer confidence falls and remains pessimistic in January
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.
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France: Composite PMI falls further below 50-threshold in January
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.
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France: Business confidence among manufacturing firms increases in January
January 24, 2023
Business confidence among manufacturing firms rose to 103.1 in January from December's 102.1.
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France: Inflation declines to lowest level since September in December
January 13, 2023
Harmonized inflation came in at 6.7% in December, down from November’s 7.1%.
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France: Industrial output rebounds in November
January 10, 2023
Industrial output increased 2.0% in month-on-month seasonally adjusted terms in November, which contrasted October's 2.5% decrease.
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