Exchange Rate in France
France - Exchange RateAvailable data suggests the economy is shrinking at a faster rate in the second quarter, on the heels of the steepest contraction on record in the first quarter. Domestic demand is being ravaged by Covid-19: Rising unemployment, social distancing measures and business closures are all hammering consumption and investment, as signaled by marked deteriorations in survey-based indicators in April–May. With the flight and motor industries being particularly hard hit by the crisis, in the past few weeks the government moved to support large French companies by providing a EUR 7.0 billion loan to air carrier France–KLM and a EUR 5.0 billion loan to car producer Renault. Amid a deteriorating fiscal backdrop and shrinking economic activity, on 15 May Fitch Ratings revised France’s outlook to negative, maintaining an AA rating. Meanwhile, in politics, President Emmanuel Macron lost his parliamentary majority on 19 May, thus hindering the approval of his controversial pension reform.
France - Exchange Rate Data
|Exchange Rate (vs USD)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
France Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||0.08||0.46 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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June 3, 2020
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) rose to 32.1 in May, after April’s 11.1 reading, which had marked an all-time low in the 22 years of data collection.
May 29, 2020
In May, consumer prices were stable month-on-month, matching April’s result, according to a preliminary release by the Statistical Institute (INSEE).
May 29, 2020
GDP shrank 5.3% on quarter-on-quarter seasonally-adjusted basis in the first quarter, down from Q4 2019’s 0.1% dip and marking the sharpest contraction on record. Household spending fell to 5.6% in Q1, marking a record drop (Q4 2019: +0.3% quarter-on-quarter seasonally-adjusted).
May 27, 2020
In May, consumer sentiment declined to 93 from 95 in April, according to the Statistical Institute (INSEE).
May 27, 2020
In May, the French Statistical Institute’s (INSEE) business climate indicator for the manufacturing sector inched up to 70 from a revised 68 in April (previously reported: 82).