Retail Sales in France
France - Retail SalesPreliminary figures show the economy expanded 0.5% on a quarter-on-quarter basis in Q3, marking the fourth consecutive quarter where quarter-on-quarter growth came in at or exceeded 0.5%. The print suggests that growth is finally on a steady track following a period of volatile readings. Growth in Q3 was buttressed by resilient fixed investment and an acceleration in private consumption, which has benefitted from the labor reforms implemented by the previous president. More importantly, the quarterly figure came as a positive surprise for the government and puts the economy broadly on track to achieve its 1.8% growth objective for this year. This has important implications on estimates for public revenues, spending and the scope of the government’s reform agenda. In late October, the National Assembly approved a 30% flat rate tax on capital gains and scrapped a controversial wealth tax. The wealth tax was cut by 70% and aims to attract investment into the economy. This should benefit growth in fixed investment and business sentiment, the latter of which is currently resting at multi-year high in October, and bodes well for growth prospects in the final quarter of the year.
France - Retail Sales Data
|Retail Sales (annual variation in %)||1.9||1.8||2.3||3.8||2.8|
5 years of economic forecasts for more than 30 economic indicators.
France Retail Sales Chart
Source: National Institute of Statistics and FocusEconomics calculations.
|Bond Yield||0.48||0.46 %||Dec 06|
|Exchange Rate||1.18||0.65 %||Dec 06|
|Stock Market||5,374||-0.29 %||Dec 06|
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December 11, 2017
Industrial production in October jumped from a revised 0.8% month-on-month increase in September (previously reported: +0.6% month-on-month) to 1.9%.
November 29, 2017
The French economy continued to expand at a steady pace in Q3.
November 28, 2017
The consumer confidence indicator released by the National Institute of Statistics and Economic Studies (INSEE) rose from 100 points in October to 102 points in November, beating market expectations of an increase to 101 points.
November 23, 2017
The IHS Markit flash composite Purchasing Managers’ Index (PMI) jumped from 57.4 points in October to 60.1 points in November, surprising analysts who had expected the indicator to drop to 57.2 points.
November 23, 2017
According to the National Institute of Statistics and Economic Studies’ (INSEE) business climate survey on manufacturing activity, the business sentiment index increased from 111 points in October to a ten-year high of 112 points in November.