GDP grew 0.6% in the beginning of the year, according to information from Echos . INSEE will publish the official figures of French growth Wednesday morning.
Good performance for the French economy. GDP grew 0.6% in the first quarter, according to a informationdes Echos published on Tuesday evening. INSEE officially publish the national accounts statistics Wednesday morning at 7:30.
0.6% growth in the first quarter would mark a significant improvement compared to previous quarters. GDP had grown by 0.1% in the last quarter of 2014 and 0.3% in the third quarter. Not since the second quarter of 2013 to find a higher growth (0.7%). Forecasters do not also had forecast such a development. In his last note of situation, published in March, INSEE anticipated a rise in GDP of 0.4%, as the Bank of France.
The French economy in recent months gives positive signals. The fall of the euro and oil prices are all favorable factors behind this positive development. Morale improves industrial and export prospects have reached, according to Insee, higher … since 2000! Demand for export as the French market is waiting for you, and the rate of margin businesses is recovering thanks to competitive employment tax credit (CICE).
The European Commission has also recently revised its growth forecast upwards. At the point it is today more optimistic than the government. It expects 1.1% growth for the full year 2015, against 1% for Bercy. These good results should be reflected in the deficit. Brussels forecasts a deficit reduced to 3.8% of GDP in 2015 and 3.5% in 2016. These figures are however far from the original target of Francois Hollande to achieve a balanced budget in 2017 …
Finally, “it’s mostly private consumption that maintains the movement, nuance the European Commission. The acceleration of investment remains modest and improving net exports limited “. The resumption of French growth remains fragile. It is not yet acquired the first quarter performance happen again the following quarters.
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