INSEE published on Friday a figure well below the 0.3% expected. The French have consumed less and less invested companies. However, Finance Minister Michel Sapin ensures that zero growth “reinforces our goal” of 1% growth in 2015.
After a rebound 0.7% growth in the first quarter, France saw its growth drop to 0%, according to a first estimate of INSEE. A figure well below expectations: the most pessimistic forecast a growth of 0.3%. Yet zero growth “reinforces our goal” of a 1% growth in 2015, ensures the Finance Minister Michel Sapin. “After a very dynamic first quarter, the level of activity continues. A mid-year, the growth overhang is 0.8%, which confirms our target of 1% for 2015, said Finance Minister Michel Sapin. The acceleration in exports and a recovery in investment are proof that our economic policy is bearing fruit and that we were right to focus on business support. We must stay the course, “he added in
The reason: the sharp slowdown in consumer spending in the second quarter, 0.9% in the first quarter to + 0.1% between April and June. Proof that after a strong start to the year, the French economy is unable to keep the same pace. Same-side business investment has also slowed 0.2% after + 0.6% in the first quarter. Good point however for foreign trade contributed positively to GDP growth (0.3 points after -0.3), weighed down by changes in inventories (-0.4 point).
Around 8:00, the German Statistical Office will release the growth rate of the country in the second quarter. 11:00 And it was the turn of the euro area.
No comments:
Post a Comment