News
🚨 🇫🇷 French economy shrinks 0.1% in Q3 against 0.1% growth expected, consumer spending slumps
🚨 🇫🇷 French economy shrinks 0.1% in Q3 against 0.1% growth expected, consumer spending slumps
- 🇫🇷 French GDP fell 0.1% on the quarter in the third-quarter first estimate, against forecasts of 0.1% growth, after 0.0% in Q2 (INSEE, newswires, )
- 🇫🇷 On the year, output was down 0.1%, against 0.3% growth expected and 0.5% previously
FO view: A French contraction, led by the consumer, is the first hard sign that the energy shock is hitting euro area demand, which cuts against the ECB's hawkish lean and adds strain to French debt.
Not investment advice.