Current Account in France
France - Current AccountTepid growth in the first half of the year was confirmed in recent weeks, and available third-quarter proxies have thus far failed to support analysts’ predictions of a pick-up through the remainder of the year. Consumer confidence ended the quarter at a two-year low as inflation ate into purchasing power, offsetting the effects of this year’s improved labor market on household spending. Moreover, survey-based data also showed waning enthusiasm across the private sector, while decelerating industrial output through August hints at loosened capacity and tame fixed-capital spending. Recent political events may produce a new narrative for the coming quarters, however. In late September, the government unveiled 2019’s draft budget, a measured spending plan set to rein-in expenditures and slash taxes in a bid to bolster the flagging economy—and bring the fiscal deficit to 2.8% of GDP. Moreover, following a series of high-level resignations, in mid-October Emmanuel Macron unveiled his new cabinet. The shake-up, which reshuffled some key personnel but left Bruno Le Maire in his post as finance minister, could stave-off a further loss of public support as Macron pushes forward with reforms to unemployment and pension benefits.
France - Current Account Data
|Current Account (% of GDP)||-0.5||-1.0||-0.4||-0.8||-0.5|
5 years of economic forecasts for more than 30 economic indicators.
France Current Account Chart
Source: Bank of France and Met the why particular calculations.
|Bond Yield||0.75||0.46 %||Nov 15|
|Exchange Rate||1.13||0.65 %||Nov 15|
|Stock Market||5,034||-0.29 %||Nov 15|
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September 26, 2018
In September, the consumer confidence indicator published by the National Institute of Statistics and Economic Studies (INSEE) fell 2 points, landing at a 29-month low of 94 points.
September 26, 2018
In September, the National Institute of Statistics and Economic Studies’ (INSEE) business sentiment index for the manufacturing sector ticked down to 117 points from 111 points a month earlier.
September 13, 2018
On 13 September, the Statistical Institute (INSEE) confirmed earlier estimates that consumer prices rose 0.5% from a month earlier, contrasting the 0.1% month-on-month contraction observed in July.
September 7, 2018
In seasonally-adjusted terms, industrial output rose 0.7% month-on-month in July, in line with June’s reading.
September 5, 2018
In August, the seasonally-adjusted IHS Markit Composite Purchasing Managers’ Index (PMI) rose to 54.9 from 54.4 a month earlier, signaling another solid expansion of business activity across the private sector.