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.

Overview	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	0.40	0.5	0.4	0.5	0.4	0.6	percent
Unemployment Rate	9.10	8.6	8.5	8.1	8	7.2	percent
Inflation Rate	2.20	2	1.7	1.5	1.6	2	percent
Interest Rate	0.00	0	0	0	0.25	0.75	percent
Balance of Trade	-5663.00	-2980	-3200	-2800	-2200	-1650	EUR Million
Government Debt to GDP	97.00	98.7	98.6	98.6	98.6	98	percent


MARKETS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Currency	1.14	1.15	1.14	1.13	1.13	1.1
Stock Market	5023.91 points	5456	5404	5352	5300	5099
Government Bond 10Y	0.76 percent	0.85	0.89	0.93	0.98	1.19

GDP	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	0.40 percent	0.5	0.4	0.5	0.4	0.6
GDP Annual Growth Rate	1.50 percent	1.5	1.5	1.8	1.8	2.2
GDP	2582.50 USD Billion	2660	2890	2890	2890	2920
GDP Constant Prices	571856.00 EUR Million	576064	577086	579767	582149	598746
Gross Fixed Capital Formation	131790.00 EUR Million	131374	131523	133033	134162	136547
GDP per capita	42567.74 USD	42900	43200	43200	43200	43600
GDP per capita PPP	38605.67 USD	39200	39700	39700	39700	40400
GDP From Agriculture	7813.00 EUR Million	7969	7925	7940	7954	8283
GDP From Construction	27912.00 EUR Million	28268	28308	28490	28414	29381
GDP From Manufacturing	58125.00 EUR Million	59206	58695	58892	59171	61537
GDP From Services	291421.00 EUR Million	291835	293191	294891	296667	303326
GDP From Transport	23071.00 EUR Million	22887	23119	23010	23486	23788
GDP From Utilities	12581.00 EUR Million	12792	12916	12817	12807	13296

LABOUR	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Unemployment Rate	9.10 percent	8.6	8.5	8.1	8	7.2
Employed Persons	28070.20 Thousand	28200	28450	28550	28620	29100
Unemployed Persons	3435.60 Thousand	3415	3369	3362	3348	3290
Employment Rate	65.80 percent	65.7	65.7	65.8	65.9	66.6
Long Term Unemployment Rate	3.60 percent	3.4	3.2	3.2	3.2	3
Youth Unemployment Rate	20.40 percent	19.5	19	18.6	18.2	17.6
Labour Costs	108.10 Index Points	109	109	109	110	112
Productivity	118.60 Index Points	120	121	122	123	127
Job Vacancies	289.20 Thousand	225	334	342	326	241
Wages	2998.00 EUR/Month	3370	3440	3440	3440	3520
Wages in Manufacturing	101.60 Index Points	119	119	119	120	123
Minimum Wages	1498.47 EUR/Month	1498	1525	1525	1525	1550
Wage Growth	0.40 percent	0.5	0.5	0.6	0.4	0.6
Population	67.19 Million	67.19	67.55	67.55	67.55	68.06
Retirement Age Women	62.00	62	62	62	62	62
Retirement Age Men	62.00	62	62	62	62	62
Initial Jobless Claims	-37.20 Thousand	-2.6	17.9	-7.6	-46.2	-6
Labor Force Participation Rate	72.20 percent	72.4	72.6	72.5	72.5	72.8
Manufacturing Payrolls	2778.20 Thousand	2820	2850	2870	2880	2950
Living Wage Family	1790.00 EUR/Month	1780	1840	1840	1840	1890
Living Wage Individual	1080.00 EUR/Month	1120	1190	1190	1190	1250
Non Farm Payrolls	25179.80 Thousand	25220	25280	25340	25400	25640
Nonfarm Payrolls Private	19427.50 Thousand	19480	19530	19580	19610	19790
Part Time Employment	4948.80 Thousand	4870	4880	4880	4890	4930
Employment Change	0.10 percent	0.5	0.4	0.4	0.5	0.5
Government Payrolls	5780.20 Thousand	5740	5750	5750	5790	5850
Full Time Employment	21849.10 Thousand	22400	22500	22600	22650	22900
Wages Low Skilled	1610.00 EUR/Month	1690	1750	1750	1750	1830
Wages High Skilled	3120.00 EUR/Month	3240	3270	3270	3270	3360

PRICES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Inflation Rate	2.20 percent	2	1.7	1.5	1.6	2
Inflation Rate Mom	0.10 percent	0.6	0.5	0.3	-0.3	0.4
Consumer Price Index CPI	103.67 Index Points	104	104	105	105	108
Harmonised Consumer Prices	104.24 Index Points	104	105	105	106	108
Core Consumer Prices	101.96 Index Points	102	103	103	103	106
Core Inflation Rate	0.80 percent	1.2	1.4	1.4	1.5	1.8
Producer Prices	103.40 Index Points	105	104	104	106	110
Producer Prices Change	3.60 percent	2.5	2.2	1.9	2.1	2.3
Export Prices	116.70 Index Points	116	116	117	117	120
Import Prices	103.10 Index Points	101	103	104	105	107
Food Inflation	2.80 percent	2.1	2.2	2.4	2.3	2.5
CPI Housing Utilities	104.70 Index Points	104	105	105	106	108
CPI Transportation	107.70 Index Points	105	106	108	108	109

MONEY	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Interest Rate	0.00 percent	0	0	0	0.25	0.75
Interbank Rate	-0.32 percent	-0.32	-0.32	-0.32	-0.07	0.43
Money Supply M1	1253994.00 EUR Million	1320000	1360000	1390000	1420000	1590000
Money Supply M2	2102384.00 EUR Million	2190000	2220000	2250000	2290000	2420000
Money Supply M3	2493932.00 EUR Million	2590000	2620000	2660000	2690000	2850000
Banks Balance Sheet	8819412.00 EUR Million	9250000	9450000	9550000	9610000	9780000
Foreign Exchange Reserves	150.03 EUR Billion	168	150	150	150	175
Loans to Private Sector	2441478.00 EUR Million	2490000	2540000	2580000	2600000	2860000
Loan Growth	5.78 percent	4	4	3.6	3.4	3.2
Private Debt to GDP	233.97 percent	225	221	221	221	217
Central Bank Balance Sheet	1075670.00 EUR Million	1250000	1320000	1370000	1400000	1750000

TRADE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Balance of Trade	-5663.00 EUR Million	-2980	-3200	-2800	-2200	-1650
Exports	40417.00 EUR Million	42920	41600	42600	44440	47850
Imports	46080.00 EUR Million	45900	44800	45400	46640	49500
Current Account	-1918.00 EUR Million	-620	-2200	-2100	-1720	-550
External Debt	5157170.00 EUR Million	5070000	5110000	5150000	5170000	5250000
Current Account to GDP	-0.80 percent	-1.3	-1	-1	-1	-0.9
Terms of Trade	113.19 Index Points	115	113	112	111	112
Foreign Direct Investment	1395.00 EUR Million	3240	4950	1500	3460	4330
Capital Flows	16179.00 EUR Million	29100	-18700	2500	-2200	15100
Remittances	43.00 EUR Million	43	45	45	45	45
Gold Reserves	2436.00 Tonnes	2436	2436	2436	2436	2436
Terrorism Index	5.96	5.96	5.96	5.96	5.96	5.96
Tourism Revenues	5850.00 EUR Million	2540	2620	4950	4790	2750
Tourist Arrivals	82600.00 Thousand	85200	85700	85700	85700	86200
Crude Oil Production	16.00 BBL/D/1K	15	15	15	15	15
Weapons Sales	2162.00 USD Million	1826	1762	1699	1635	1528

GOVERNMENT	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Government Debt to GDP	97.00 percent	98.7	98.6	98.6	98.6	98
Government Budget	-2.60 percent of GDP	-2.6	-2.8	-2.8	-2.8	-2.7
Government Budget Value	-87.10 EUR Billion	-67	-27	-58	-73	-62
Government Spending	135951.00 EUR Million	137233	137378	138062	138398	142636
Government Spending to GDP	56.50 percent	55.5	54.5	53.5	52.5	50.5
Government Revenues	231.88 EUR Billion	316	85	170	247	327
Government Debt	2299.80 EUR Billion	2340	2380	2400	2410	2470
Fiscal Expenditure	291.01 EUR Billion	383	112	228	320	389
Military Expenditure	56287.40 USD Million	56154	56064	55974	55885	55650
Asylum Applications	8620.00 persons	8400	7150	5900	6250	5100

BUSINESS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Business Confidence	104.00 Index Points	105	101	105	104	101
Manufacturing PMI	51.20	52.7	50.9	54	54.5	53.6
Services PMI	55.30 Index Points	54.5	52.9	56	55.7	54
Composite Pmi	54.10 Index Points	53.8	52.5	55.1	55.4	54
Industrial Production	-1.10 percent	2	2.5	2.9	2.5	2.3
Industrial Production Mom	-1.80 percent	0.4	0.5	-0.2	0.2	0.4
Manufacturing Production	-1.00 percent	2	2.4	2.5	2.2	2.2
Capacity Utilization	85.20 percent	85.5	85.7	85.7	85.9	86
New Orders	-11.50 Index Points	-2	-6	-4	-7	-10
Bankruptcies	299.00 Companies	320	312	310	295	340
Zew Economic Sentiment Index	-11.70	1.5	4.4	11.5	15.7	22
Car Registrations	170757.00	189900	192000	186500	191500	199400
Internet Speed	10756.57 KBps	12327	12582	12797	13054	15144
IP Addresses	29887339.00 IP	29957609	30243248	30229624	30091496	29536871
Mining Production	4.70 percent	3.2	3	2.7	2.6	2.2
Steel Production	1341.16 Thousand Tonnes	1250	1450	1500	1400	1380
Changes In Inventories	3592.00 EUR Million	8200	6900	6000	7500	4500
Competitiveness Index	78.01 Points	78.51	78.51	78.51	78.51	81.01
Competitiveness Rank	17.00	17	17	17	17	17
Ease of Doing Business	32.00	30	29	29	29	28
Electricity Production	40836.00 Gigawatt-hour	55900	52700	41500	41500	56800
Corruption Index	70.00 Points	70	70	70	70	70
Corruption Rank	23.00	23	23	23	23	23

CONSUMER	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Consumer Confidence	95.00 Index Points	95	91	94	95	99
Retail Sales MoM	0.10 percent	-0.7	0.5	-0.3	0.7	0.4
Retail Sales YoY	2.30 percent	4.4	4.6	4.2	3.8	2.7
Consumer Spending	308813.00 EUR Million	311529	312316	312849	314372	323795
Disposable Personal Income	355091.00 EUR Million	364000	366000	368000	371000	389000
Personal Savings	14.32 percent	14.5	14.7	14.7	14.8	15.1
Households Debt To GDP	58.60 percent of GDP	58	56	56	56	52
Households Debt To Income	93.29 percent	85.8	84.6	84.6	84.6	83.5
Personal Spending	-1.70 percent	0.5	-0.4	-0.3	0.5	0.6
Bank Lending Rate	1.81 percent	1.85	1.85	1.85	2.1	2.6
Consumer Credit	1376571.00 EUR Million	1450000	1490000	1520000	1550000	1780000
Gasoline Prices	1.82 USD/Liter	1.79	1.76	1.73	1.7	1.57

HOUSING	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Construction Output	4.20 percent	2.4	2.6	2.5	2.3	2.1
Housing Index	106.31 Index points	108	108	109	110	115
Housing Starts	34400.00 units	45200	39100	37100	37400	50300
Home Ownership Rate	64.90 percent	63.4	63.2	63.2	63.2	63
New Home Sales	34096.00	36100	32900	34800	32400	40200
Construction Pmi	52.20	50.5	49.4	52.5	53.4	54
Building Permits	45300.00	47200	47500	46400	49900	55100

TAXES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Corporate Tax Rate	33.30 percent	33.3	33.3	33.3	33.3	33.3
Personal Income Tax Rate	45.00 percent	45	45	45	45	45
Sales Tax Rate	20.00 percent	20	20	20	20	20
Social Security Rate	59.20 percent	59.2	59.2	59.2	59.2	59.2
Social Security Rate For Companies	45.00 percent	45	45	45	45	45
Social Security Rate For Employees	14.20 percent	14.2	14.2	14.2	14.2	14.2

CLIMATE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Precipitation	24.37 mm	79.96	63.32	69.98	69.98	71.06
Temperature	7.70 celsius	9.92	7.71	16.15	13.17	13.08

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France - Economic Forecasts - 2018-2020 Outlook

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