Retail Sales in France

France Retail Sales | Economic News & Forecasts

France - Retail Sales

Preliminary 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

2012  2013  2014  2015  2016  
Retail Sales (annual variation in %)1.9  1.8  2.3  3.8  2.8  

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France Retail Sales Chart

France Retail
Note: Annual variation of real retail sales in %.
Source: National Institute of Statistics and FocusEconomics calculations.

France Facts

Bond Yield0.480.46 %Dec 06
Exchange Rate1.180.65 %Dec 06
Stock Market5,374-0.29 %Dec 06

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