Current Account in France

France Current Account | Economic News & Forecasts

France - Current Account

Tepid 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

2013  2014  2015  2016  2017  
Current Account (% of GDP)-0.5  -1.0  -0.4  -0.8  -0.5  

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France Current Account Chart

France Current Account
Note: Current account balance as % of GDP.
Source: Bank of France and Met the why particular calculations.

France Facts

Bond Yield0.750.46 %Nov 15
Exchange Rate1.130.65 %Nov 15
Stock Market5,034-0.29 %Nov 15

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