Markets Actual Q2 Q3 Q4 Q1 2022
Stock Market (points) 6640.83 6509 6367 6227 6091 5818
Currency 1.20 1.21 1.2 1.2 1.2 1.19
Government Bond 10Y (%) 0.13 0.16 0.17 0.19 0.21 0.25

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.10 -0.3 3.6 1.4 0.8 0.5
GDP Annual Growth Rate (%) 1.20 15.1 2 4.5 5 2.5
Unemployment Rate (%) 8.00 8.8 8.7 9.1 8.9 8.5
Inflation Rate (%) 1.40 1.6 1.6 1.7 1.1 1.1
Inflation Rate Mom (%) 0.30 0.3 0.4 0.4 0.5 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -6244.00 -2520 -5000 -2650 -3650 -3330
Current Account (EUR Million) -1403.00 -2200 -2480 -780 -1870 -640
Current Account to GDP (% of GDP) -1.90 -1.7 -1.7 -1.7 -1.2 -1.2
Government Debt to GDP (% of GDP) 115.70 117 117 117 115 115
Government Budget (% of GDP) -9.20 -8.5 -8.5 -8.5 -4.7 -4.7
Business Confidence (points) 107.00 109 111 107 105 105
Manufacturing PMI (points) 59.40 54 53.4 52.9 54 55
Services PMI (points) 56.60 53 52.5 52.5 53.6 54.8
Consumer Confidence (points) 97.00 97 102 101 104 107
Retail Sales MoM (%) -6.00 0.9 -1.2 0.6 0.9 0.5
Corporate Tax Rate (%) 26.50 28 28 33.3 28 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.10 -0.3 3.6 1.4 0.8 0.5
GDP Annual Growth Rate (%) 1.20 15.1 2 4.5 5 2.5
GDP (USD Billion) 2715.52 2510 2510 2510 2650 2650
GDP Constant Prices (EUR Million) 555608.00 544557 571983 577867 583192 592314
Gross Fixed Capital Formation (EUR Million) 135100.00 121253 133150 138136 141901 141590
GDP per capita (USD) 44317.40 42600 42600 42600 43400 43400
GDP per capita PPP (USD) 46183.50 45600 45600 45600 46340 46340
GDP From Agriculture (EUR Million) 7891.00 9202 8190 8440 8547 8651
GDP From Construction (EUR Million) 25910.00 22718 27642 27638 28844 28329
GDP From Manufacturing (EUR Million) 56263.00 49063 53864 56412 56653 57823
GDP From Services (EUR Million) 278221.00 280662 290252 290929 292552 298202
GDP From Transport (EUR Million) 17595.00 18142 20301 19779 20652 20273
GDP From Utilities (EUR Million) 12419.00 11686 11598 12282 12131 12589

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 8.00 8.8 8.7 9.1 8.9 8.5
Employed Persons (Thousand ) 28275.40 27700 27200 27500 27700 28000
Unemployed Persons (Thousand) 3623.80 3880 3950 3840 3770 3650
Employment Rate (%) 65.60 64.2 64.5 64.7 65 65.6
Long Term Unemployment Rate (%) 3.10 3.9 3.8 4.2 4 3.8
Youth Unemployment Rate (%) 19.50 20.3 20.2 20.6 20.4 20.2
Labour Costs (points) 106.40 107 112 110 106 107
Wages (EUR/Month) 3084.00 3087 3093 3052 3099 3118
Wages in Manufacturing (points) 105.70 104 106 104 106 107
Wage Growth (%) 0.30 0.3 0.4 0.5 0.4 0.6
Minimum Wages (EUR/Month) 1554.58 1555 1555 1555 1610 1610
Population (Million) 67.29 67.41 67.41 67.41 67.75 67.75
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Initial Jobless Claims (Thousand) 65.90 50 25 -18 -40 -30
Labor Force Participation Rate (%) 71.40 70.6 70.8 71 71.3 71.5
Non Farm Payrolls (Thousand) 25324.10 24200 24500 24750 24900 25250
Nonfarm Payrolls Private (Thousand) 19511.00 18400 18200 18450 18640 19050
Employment Change (%) 0.20 0.6 0.3 0.4 0.5 0.6

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.40 1.6 1.6 1.7 1.1 1.1
Inflation Rate Mom (%) 0.30 0.3 0.4 0.4 0.5 0.5
Consumer Price Index CPI (points) 106.20 106 106 107 107 108
Harmonised Consumer Prices (points) 107.38 107 107 108 108 109
Core Consumer Prices (points) 104.07 104 104 105 105 106
Core Inflation Rate (%) 0.90 0.8 1 1.2 1.1 1.4
Producer Prices (points) 105.90 104 102 111 108 107
Producer Prices Change (%) 7.30 4.5 2 1.6 1.8 1.8
Food Inflation (%) -0.30 -0.6 0.5 1 1.2 1.7
CPI Housing Utilities (points) 107.62 106 107 107 109 109
CPI Transportation (points) 109.06 107 106 108 109 109

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.48 -0.48 -0.48 -0.48 -0.48 -0.48
Banks Balance Sheet (EUR Million) 10946332.00 11280000 11320000 11470000 11520000 11570000
Loans to Private Sector (EUR Million) 2858181.00 2887260 2903006 2932202 2954784 3061219
Loan Growth (%) 5.87 4.8 3.6 4 3.4 4.4
Private Debt to GDP (%) 264.80 272 272 272 268 268
Central Bank Balance Sheet (EUR Million) 1801013.00 1820000 1795000 1780000 1776000 1850000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) -6244.00 -2520 -5000 -2650 -3650 -3330
Current Account (EUR Million) -1403.00 -2200 -2480 -780 -1870 -640
Current Account to GDP (% of GDP) -1.90 -1.7 -1.7 -1.7 -1.2 -1.2
Imports (EUR Million) 46850.90 41200 42250 44500 45860 49100
Exports (EUR Million) 40607.00 36200 38200 40850 41980 45770
External Debt (EUR Million) 5988460.00 6172000 6442000 6323000 6384000 6461000
Foreign Direct Investment (EUR Million) 1350.00 3200 2890 3620 3420 2520
Tourism Revenues (EUR Million) 1461.00 3600 3890 2990 3020 3470
Tourist Arrivals (Thousand) 0.00 1500 2200 1980 2340 2000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 115.70 117 117 117 115 115
Government Budget (% of GDP) -9.20 -8.5 -8.5 -8.5 -4.7 -4.7
Government Budget Value (EUR Billion) -91.37 -40 -100 -65 -140 -116
Government Spending (EUR Million) 138444.00 151000 152000 149000 148000 147000
Government Spending to GDP (% of GDP) 62.10 61 61 61 56 56
Government Revenues (EUR Billion) 86.24 132 184 306 79 324
Government Debt (EUR Billion) 2650.10 2700 2680 2650 2710 2790
Fiscal Expenditure (EUR Billion) 163.48 232 322 446 112 440

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 26.50 28 28 33.3 28 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 59.2 68 68
Social Security Rate For Companies (%) 45.00 45 45 45 45 45
Social Security Rate For Employees (%) 23.00 23 23 14.2 23 23

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 107.00 109 111 107 105 105
Manufacturing PMI (points) 59.40 54 53.4 52.9 54 55
Services PMI (points) 56.60 53 52.5 52.5 53.6 54.8
Composite PMI (points) 57.00 53.5 52.8 52.9 53.8 54.6
Industrial Production (%) 43.90 16.2 5.9 5.1 2.8 2.9
Industrial Production Mom (%) -0.10 0.9 -1 0.6 0.9 0.6
Manufacturing Production (%) 49.30 17 6.8 5.5 4.2 3.2
Zew Economic Sentiment Index 66.70 36 12 15 14 8
Car Registrations 141041.00 199100 161200 178200 75900 195200
Mining Production (%) 128.00 24 6.7 5.2 4.4 3.6
Business Climate Indicator (points) 108.00 106 102 105 106 104

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 97.00 97 102 101 104 107
Retail Sales MoM (%) -6.00 0.9 -1.2 0.6 0.9 0.5
Retail Sales YoY (%) 42.10 12.3 3.8 4.5 4 3.6
Consumer Spending (EUR Million) 294847.00 301173 317036 305719 308492 313362
Disposable Personal Income (EUR Million) 382163.00 415396 381226 397183 399083 407112
Personal Savings (%) 21.82 15.2 14.7 14.4 14 13.6
Households Debt To GDP (% of GDP) 68.70 68 68 68 65 65
Households Debt To Income (%) 98.12 101 101 101 98 98
Personal Spending (%) -8.30 0.9 -1.2 0.6 1.2 0.7
Bank Lending Rate (%) 1.30 1.21 1.21 1.21 1.21 1.21
Gasoline Prices (USD/Liter) 1.94 1.7 1.62 1.48 1.46 1.39
Consumer Credit (EUR Million) 1566730.00 1733869 1558901 1621489 1639045 1662026

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) 164.00 14.5 6.8 6.2 2.8 3.2
Housing Index (points) 119.49 125 128 126 127 130
Home Ownership Rate (%) 64.10 62.8 62.8 62.8 62.5 62.5
Housing Starts (units) 30300.00 32500 32400 39400 29100 41400
New Home Sales (Units) 30497.00 30450 24500 32200 30600 38200
Construction PMI (points) 51.10 52.9 52.8 52.5 53.4 54.7
Building Permits 33400.00 31200 31400 39100 36800 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.