Markets Actual Q1 Q2 Q3 Q4 2022
Stock Market (points) 5571.60 5468 5349 5231 5117 4887
Currency 1.22 1.21 1.21 1.2 1.2 1.19
Government Bond 10Y (%) -0.26 0.03 0.06 0.09 0.12 0.19

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 18.70 -2 3.8 1.4 1.1 0.6
GDP Annual Growth Rate (%) -3.90 -1.6 15.1 2.5 2.7 1.9
Unemployment Rate (%) 9.00 11 12 10.8 10.2 9
Inflation Rate (%) 0.00 0.5 1 1.2 1.4 1.6
Inflation Rate Mom (%) 0.20 0.2 0.3 0.4 0.4 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -3558.90 -3350 -2520 -5000 -2650 -3650
Current Account (EUR Million) -1413.00 -2200 -2200 -2480 -780 -640
Current Account to GDP (%) -0.70 -0.3 -0.3 -0.3 -0.3 -0.4
Government Debt to GDP (%) 98.10 117 117 117 117 115
Government Budget (% of GDP) -3.00 -4.6 -4.6 -4.6 -4.6 -2.8
Business Confidence (points) 98.00 94 93 95 97 100
Manufacturing PMI (points) 51.50 51.2 54 53.4 52.9 52.9
Services PMI (points) 46.50 50.8 53 52.5 52.5 53.6
Consumer Confidence (points) 95.00 95 97 96 98 101
Retail Sales MoM (%) -18.00 1.1 0.9 -1.2 0.6 0.6
Corporate Tax Rate (%) 28.00 28 28 28 33.3 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 18.70 -2 3.8 1.4 1.1 0.6
GDP Annual Growth Rate (%) -3.90 -1.6 15.1 2.5 2.7 1.9
GDP (USD Billion) 2715.52 2510 2510 2510 2510 2590
GDP Constant Prices (EUR Million) 559361.00 558933 538016 542547 601303 574024
Gross Fixed Capital Formation (EUR Million) 131716.00 133531 122274 122349 138760 137137
GDP per capita (USD) 44317.40 42600 42600 42600 42600 43400
GDP per capita PPP (USD) 46183.50 45600 45600 45600 45600 46340
GDP From Agriculture (EUR Million) 8024.00 7842 7921 9206 8210 8054
GDP From Construction (EUR Million) 27242.00 27725 24464 22799 29258 28473
GDP From Manufacturing (EUR Million) 52834.00 54739 52615 49138 60860 56217
GDP From Services (EUR Million) 283842.00 286312 277109 280564 306760 294043
GDP From Transport (EUR Million) 20169.00 21689 20331 18211 24091 22275
GDP From Utilities (EUR Million) 11335.00 11385 11189 11664 13143 11693

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 9.00 11 12 10.8 10.2 9
Employed Persons (Thousand ) 28034.10 26800 26700 27200 27700 28500
Unemployed Persons (Thousand) 3586.30 4070 3880 3750 3650 3650
Employment Rate (%) 65.10 64 64.2 64.5 64.7 65.6
Long Term Unemployment Rate (%) 3.30 3.8 5.3 6.3 5.1 4.5
Youth Unemployment Rate (%) 22.10 21.2 22.7 23.7 22.5 21.9
Labour Costs (points) 104.50 102 106 111 110 103
Wages (EUR/Month) 3084.00 3078 3087 3093 3052 3093
Wages in Manufacturing (points) 105.50 104 104 106 104 104
Wage Growth (%) 0.30 0.1 0.3 0.4 0.5 0.5
Minimum Wages (EUR/Month) 1539.42 1590 1590 1590 1590 1650
Population (Million) 66.98 67.91 67.91 67.91 67.91 68.15
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Initial Jobless Claims (Thousand) 36.60 45 -16 -46 -18 -18
Labor Force Participation Rate (%) 71.60 71.2 70.6 70.8 71 71.5
Non Farm Payrolls (Thousand) 25254.20 23950 23200 23500 23750 24850
Nonfarm Payrolls Private (Thousand) 19430.60 18190 17400 17900 18450 19050
Employment Change (%) -2.60 0.5 0.6 0.3 0.4 0.4

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 0.00 0.5 1 1.2 1.4 1.6
Inflation Rate Mom (%) 0.20 0.2 0.3 0.4 0.4 0.4
Consumer Price Index CPI (points) 104.96 105 106 106 106 108
Harmonised Consumer Prices (points) 105.75 106 107 107 107 109
Core Consumer Prices (points) 103.27 105 103 104 107 107
Core Inflation Rate (%) 0.20 0.5 0.8 1 1.2 1.2
Producer Prices (points) 102.00 101 100 101 103 105
Producer Prices Change (%) -1.80 -0.1 0.8 1 1.2 1.6
Food Inflation (%) 1.00 1.4 1.5 1.7 1.8 2
CPI Housing Utilities (points) 105.69 106 106 106 107 109
CPI Transportation (points) 106.21 105 106 105 108 109

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.50 -0.48 -0.48 -0.48 0.44 -0.48
Banks Balance Sheet (EUR Million) 10833522.00 11590000 11280000 11320000 11470000 11570000
Loans to Private Sector (EUR Million) 2810695.00 2942000 2951000 2936000 2944000 2961000
Loan Growth (%) 8.53 5.1 2.8 2 2.3 2.5
Private Debt to GDP (%) 266.47 272 272 272 272 268
Central Bank Balance Sheet (EUR Million) 1686149.00 1830000 1820000 1795000 1720000 1650000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Million) -3558.90 -3350 -2520 -5000 -2650 -3650
Current Account (EUR Million) -1413.00 -2200 -2200 -2480 -780 -640
Current Account to GDP (%) -0.70 -0.3 -0.3 -0.3 -0.3 -0.4
Imports (EUR Million) 42849.40 39070 41200 42250 44500 49100
Exports (EUR Million) 39290.40 36550 36200 38200 40850 45770
External Debt (EUR Million) 6082635.00 6282000 6372000 6442000 6323000 6121000
Foreign Direct Investment (EUR Million) 3587.00 2950 3200 2890 3620 2520
Tourism Revenues (EUR Million) 1185.00 2680 3600 3890 2990 3470
Tourist Arrivals (Thousand) 89300.00 64000 64000 64000 64000 79100

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 98.10 117 117 117 117 115
Government Budget (% of GDP) -3.00 -4.6 -4.6 -4.6 -4.6 -2.8
Government Budget Value (EUR Billion) -176.85 -62 -165 -40 -65 -65
Government Spending (EUR Million) 139279.00 151000 154000 152000 149000 147000
Government Spending to GDP (%) 55.60 58 58 58 58 55
Government Revenues (EUR Billion) 238.95 75 132 184 306 324
Government Debt (EUR Billion) 2674.30 2720 2700 2680 2650 2590
Fiscal Expenditure (EUR Billion) 410.33 115 232 322 446 440

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 28.00 28 28 28 33.3 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 68.00 68 68 68 59.2 68
Social Security Rate For Companies (%) 45.00 45 45 45 45 45
Social Security Rate For Employees (%) 23.00 23 23 23 14.2 23

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) 98.00 94 93 95 97 100
Manufacturing PMI (points) 51.50 51.2 54 53.4 52.9 52.9
Services PMI (points) 46.50 50.8 53 52.5 52.5 53.6
Composite PMI (points) 47.00 51.1 53.5 52.8 52.9 52.9
Industrial Production (%) -4.60 6.5 16.2 5.9 5.1 2.3
Industrial Production Mom (%) -0.90 1 0.9 -1 0.6 0.6
Manufacturing Production (%) -4.30 7.1 17 6.8 5.5 2.5
Zew Economic Sentiment Index 50.80 32 14 12 5 8
Car Registrations 186323.00 125400 149100 141200 178200 195200
Mining Production (%) -2.20 6.2 24 6.7 5.2 2
Business Climate Indicator (points) 92.00 91 90 92 95 99

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 95.00 95 97 96 98 101
Retail Sales MoM (%) -18.00 1.1 0.9 -1.2 0.6 0.6
Retail Sales YoY (%) -15.70 3.6 12.3 3.8 4.5 4.5
Consumer Spending (EUR Million) 309748.00 302886 291839 300451 323731 311064
Disposable Personal Income (EUR Million) 372815.00 357921 363438 413889 380280 367585
Personal Savings (%) 16.53 16.2 15.2 14.7 14.4 14
Households Debt To GDP (% of GDP) 65.80 68 68 68 68 65
Households Debt To Income (%) 98.12 101 101 101 101 98
Personal Spending (%) -18.90 1 0.9 -1.2 0.6 0.6
Bank Lending Rate (%) 1.10 1.16 1.16 1.16 2.52 1.16
Gasoline Prices (USD/Liter) 1.74 1.56 1.51 1.43 1.48 1.48
Consumer Credit (EUR Million) 1541995.00 1427162 1468237 1733869 1466737 1465695

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -5.70 25 14.5 6.8 6.2 2.5
Housing Index (points) 117.86 120 119 115 112 114
Home Ownership Rate (%) 65.10 62.8 62.8 62.8 62.8 62.5
Housing Starts (units) 38100.00 27300 32500 32400 39400 41400
New Home Sales (Units) 24308.00 28200 30450 24500 32200 38200
Construction PMI (points) 40.50 51 53.6 52.8 52.5 52.5
Building Permits 35800.00 33100 31200 31400 39100 39100


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.