Consumption in France
France - Consumption
Growth sustains its momentum amid upbeat household spending in Q3
The economy grew a seasonally-adjusted 0.3% quarter-on-quarter in the third quarter, landing on Consensus and matching the expansions recorded in the previous two quarters according to a first estimate released by the French Statistical Institute (INSEE) on 30 October. However, on an annual basis, growth inched down from the previous quarter (Q3: +1.3% year-on-year; Q2: +1.4% yoy).
Household spending accelerated (Q3: +0.3% quarter-on-quarter seasonally-adjusted; Q2: +0.2% qoq s.a.) amid a sharp pick-up in consumer sentiment, an over one-decade low unemployment rate and subdued inflation, while government spending sustained its momentum (Q3: +0.4% qoq s.a.; Q2: +0.4% qoq s.a.). On the flipside, household investment nearly stagnated despite low interest rates, although business investment edged up. Consequently, overall fixed investment growth slowed to 0.9% on a quarter-on-quarter, seasonally-adjusted basis (Q2: +1.2% qoq s.a.).
Exports returned to growth in the third quarter (Q3: +0.3% qoq s.a.; Q2: -0.1% qoq s.a.), despite the industrial pullback across the Eurozone. Similarly, imports rebounded markedly (Q3: +1.4% qoq s.a.; Q2: -0.3% qoq s.a.). Taken together, the external sector subtracted 0.4 percentage points from the overall expansion, following a neutral contribution in Q2.
FocusEconomics analysts see growth at 1.2% in 2020, which is unchanged from last month’s forecast, and at 1.3% in 2021.
France - Consumption Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Consumption (annual variation in %) | 0.6 | 0.8 | 1.4 | 1.6 | 1.6 |
France Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.37 | 0.46 % | Sep 04 |
| Exchange Rate | 1.10 | 0.65 % | Sep 04 |
| Stock Market | 5,532 | -0.29 % | Sep 04 |
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Economic News
France: Harmonized inflation edges down in October
November 14, 2019
Consumer prices saw no month-on-month growth in October, following September’s 0.3% fall, according to a second estimate by the Statistical Institute (INSEE).
France: Industrial output contracts at a softer pace in September
November 8, 2019
Seasonally-adjusted industrial production rose 0.3% month-on-month in September, contrasting August’s 0.9% decline.
France: Private-sector activity gathers momentum in October
November 6, 2019
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) rose to 52.6 in October, rebounding from September’s 50.8.
France: Harmonized inflation edges down in October
October 31, 2019
Consumer prices dipped 0.1% month-on-month in October, up slightly from September’s 0.3% fall, according to a preliminary estimate by the Statistical Institute (INSEE).
France: Consumer sentiment stable in October
October 30, 2019
In October, consumer sentiment in France remained stable at September’s 104, after nine consecutive months of increase according to the French Statistical Institute (INSEE).
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