Markets Actual Q2 Q3 Q4 Q1 2021
Stock Market (points) 4721.40 4625 4524 4424 4327 4134
Currency 1.11 1.11 1.1 1.1 1.09 1.09
Government Bond 10Y (%) -0.07 0.01 0.01 0.02 0.03 0.04

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -5.30 -19.7 8.9 3.2 2.5 1.5
GDP Annual Growth Rate (%) -5.00 -16.8 -6.2 -3.8 2.5 2.7
Unemployment Rate (%) 7.80 10.5 12 12.6 12.4 10.8
Inflation Rate (%) 0.20 -0.6 -0.3 -0.1 0.3 1.2
Inflation Rate Mom (%) 0.00 0.3 -0.2 0.4 0.4 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -3342.80 -4300 -3700 -3350 -3520 -2650
Current Account (EUR Million) -3348.00 -2400 -1200 -550 -2200 -780
Current Account to GDP (%) -0.70 -0.6 -0.6 -0.6 -0.3 -0.3
Government Debt to GDP (%) 98.10 101 101 101 105 105
Government Budget (% of GDP) -3.00 -9 -9 -9 -4.6 -4.6
Business Confidence (points) 70.00 85 90 92 94 97
Manufacturing PMI (points) 40.30 43 47 50.6 51.2 52.9
Services PMI (points) 29.40 42 46 48 50.8 52.5
Consumer Confidence (points) 93.00 95 90 92 95 98
Retail Sales MoM (%) -17.40 -0.4 0.6 0.4 0.4 0.4
Corporate Tax Rate (%) 33.30 33.3 33.3 33.3 33.3 33.3
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -5.30 -19.7 8.9 3.2 2.5 1.5
GDP Annual Growth Rate (%) -5.00 -16.8 -6.2 -3.8 2.5 2.7
GDP (USD Billion) 2890.00 2920 2920 2920 3020 3020
GDP Constant Prices (EUR Million) 546228.00 481694 544506 558019 559884 573085
Gross Fixed Capital Formation (EUR Million) 121037.00 112755 128659 132013 124063 135578
GDP per capita (USD) 43663.60 44800 44800 44800 45400 45400
GDP per capita PPP (USD) 39555.50 40400 40400 40400 38289 38814
GDP From Agriculture (EUR Million) 8165.00 6851 7704 7922 8369 8136
GDP From Construction (EUR Million) 24500.00 24032 27249 27816 25113 28567
GDP From Manufacturing (EUR Million) 53223.00 47639 53378 54149 54554 55611
GDP From Services (EUR Million) 280603.00 246580 279170 286438 287618 294172
GDP From Transport (EUR Million) 20368.00 19203 21739 21971 20877 22564
GDP From Utilities (EUR Million) 11510.00 10060 11282 11256 11798 11560

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 7.80 10.5 12 12.6 12.4 10.8
Unemployed Persons (Thousand) 4315.70 3500 3450 3400 3370 3350
Employment Rate (%) 66.00 66.3 66.5 66.6 66.6 66.8
Long Term Unemployment Rate (%) 3.00 5.2 6.7 7.3 7.1 7.1
Youth Unemployment Rate (%) 20.40 21.5 23 23.6 23.4 23.4
Labour Costs (points) 102.80 102 102 103 103 103
Wages (EUR/Month) 3084.00 3065 3059 3078 3087 3093
Wages in Manufacturing (points) 104.10 103 103 104 104 104
Wage Growth (%) 0.20 -0.6 -0.8 -0.2 0.1 0.5
Minimum Wages (EUR/Month) 1521.22 1650 1650 1650 1650 1740
Population (Million) 66.98 67.67 67.67 67.67 67.91 67.91
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Initial Jobless Claims (Thousand) 827.10 29 30 -6 -6 -10
Labor Force Participation Rate (%) 71.70 72.7 72.8 72.8 72.8 73
Manufacturing Payrolls (Thousand) 2786.90 2800 2810 2820 2820 2850
Living Wage Family (EUR/Month) 1790.00 1779 1776 1786 1792 1795
Living Wage Individual (EUR/Month) 1080.00 1074 1071 1078 1081 1083
Non Farm Payrolls (Thousand) 25541.40 25500 25560 25640 25640 25750
Nonfarm Payrolls Private (Thousand) 19287.70 19720 19750 19790 19790 19850
Employment Change (%) 0.20 0.4 0.3 0.5 0.5 0.3
Government Payrolls (Thousand) 5799.90 5780 5810 5850 5850 5900
Wages Low Skilled (EUR/Month) 1610.00 1600 1597 1607 1612 1615
Wages High Skilled (EUR/Month) 3120.00 3101 3095 3114 3123 3129

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 0.20 -0.6 -0.3 -0.1 0.3 1.2
Inflation Rate Mom (%) 0.00 0.3 -0.2 0.4 0.4 0.4
Consumer Price Index CPI (points) 104.51 104 104 105 105 106
Harmonised Consumer Prices (points) 105.32 105 105 108 106 110
Core Consumer Prices (points) 102.77 104 104 105 105 106
Core Inflation Rate (%) 0.30 1 1.2 1.4 1.4 1.6
Producer Prices (points) 98.40 103 104 108 103 111
Producer Prices Change (%) -4.70 0.6 1 1.4 1.4 1.7
Food Inflation (%) 3.10 2.1 1.9 2.5 2.3 2.4
CPI Housing Utilities (points) 104.95 105 105 106 106 107
CPI Transportation (points) 103.50 107 106 109 105 110

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.11 -0.29 -0.29 -0.29 -0.29 -0.29
Banks Balance Sheet (EUR Million) 10208997.00 9860000 9910000 9950000 9950000 10570000
Loans to Private Sector (EUR Million) 2707619.00 2112117 2429448 2502115 2702530 2569672
Loan Growth (%) 7.83 3.2 3 2.7 2.7 2.7
Private Debt to GDP (%) 266.47 240 240 240 240 236
Central Bank Balance Sheet (EUR Million) 1257864.00 1380000 1420000 1460000 1460000 1590000

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (EUR Million) -3342.80 -4300 -3700 -3350 -3520 -2650
Current Account (EUR Million) -3348.00 -2400 -1200 -550 -2200 -780
Current Account to GDP (%) -0.70 -0.6 -0.6 -0.6 -0.3 -0.3
Imports (EUR Million) 38536.30 49680 49990 50500 51070 52500
Exports (EUR Million) 35193.60 45420 46250 47150 47550 49850
External Debt (EUR Million) 5566480.00 5180000 5210000 5253000 5253000 5323000
Foreign Direct Investment (EUR Million) 2613.00 1980 3220 4330 4330 3620
Remittances (EUR Million) 72.00 45 45 45 45 45
Tourism Revenues (EUR Million) 1862.00 5190 4910 2750 2750 2890
Tourist Arrivals (Thousand) 89300.00 80200 80200 80200 84500 84500

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 98.10 101 101 101 105 105
Government Budget (% of GDP) -3.00 -9 -9 -9 -4.6 -4.6
Government Budget Value (EUR Billion) -52.50 -86 -120 -62 -34 -65
Government Spending (EUR Million) 135427.00 114242 129437 133414 138813 137016
Government Spending to GDP (%) 55.60 61 61 61 58 58
Government Revenues (EUR Billion) 61.84 151 219 324 77 330
Government Debt (EUR Billion) 2380.10 2450 2460 2470 2470 2510
Fiscal Expenditure (EUR Billion) 98.95 227 314 412 111 418

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 33.30 33.3 33.3 33.3 33.3 33.3
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 59.20 59.2 59.2 59.2 59.2 59.2
Social Security Rate For Companies (%) 45.00 45 45 45 45 45
Social Security Rate For Employees (%) 14.20 14.2 14.2 14.2 14.2 14.2

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 70.00 85 90 92 94 97
Manufacturing PMI (points) 40.30 43 47 50.6 51.2 52.9
Services PMI (points) 29.40 42 46 48 50.8 52.5
Composite Pmi (points) 30.50 42 47 49.5 51.1 52.9
Industrial Production (%) -17.30 1.1 0.9 1.4 1.4 1.7
Industrial Production Mom (%) -16.20 -0.4 0.3 0.4 0.4 0.5
Manufacturing Production (%) -19.30 0.8 0.9 1.1 1.1 1.5
New Orders (points) -54.90 -8 -10 -10 -10 -10
Zew Economic Sentiment Index 46.90 -30 -28 -26 -22 -17
Car Registrations 170332.00 178400 159100 164400 164400 168200
Mining Production (%) -35.40 1.1 1.6 1.5 1.5 1.2
Changes In Inventories (EUR Million) 6800.00 6200 6800 4500 4500 3800

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) 93.00 95 90 92 95 98
Retail Sales MoM (%) -17.40 -0.4 0.6 0.4 0.4 0.4
Retail Sales YoY (%) -16.00 2.6 2.5 2.2 2.2 2.5
Consumer Spending (EUR Million) 294869.00 259268 293534 301915 302241 310067
Disposable Personal Income (EUR Million) 369922.00 303395 344632 355865 379170 365473
Personal Savings (%) 14.88 15.5 15.9 15.4 15.4 15.4
Households Debt To GDP (% of GDP) 61.90 59 59 59 59 57
Households Debt To Income (%) 95.88 83.5 83.5 83.5 83.5 83.5
Personal Spending (%) -20.20 -0.2 0.6 0.4 0.4 0.5
Bank Lending Rate (%) 1.77 1.71 1.71 1.71 1.71 1.71
Gasoline Prices (USD/Liter) 1.46 1.51 1.44 1.36 1.29 1.23
Consumer Credit (EUR Million) 1492111.00 1193322 1368371 1427162 1529414 1465695

Housing Actual Q2 Q3 Q4 Q1 2021
Construction Output (%) -41.70 2 1.5 1.7 1.7 1.7
Housing Index (points) 112.58 111 111 112 112 112
Home Ownership Rate (%) 65.10 63 63 63 63 62.8
Housing Starts (units) 30700.00 32900 32900 36200 36200 38400
New Home Sales (Units) 34601.00 32200 26500 34200 34200 40200
Construction Pmi (points) 3.80 40 49 50.8 51 52.5
Building Permits 35000.00 41900 49100 38100 38100 42100


This page has economic forecasts for France including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the France economy.