Markets Actual Q4 Q1 Q2 Q3 2021
Stock Market (points) 5610.89 5452 5333 5216 5102 4873
Currency 1.21 1.21 1.21 1.2 1.2 1.19
Government Bond 10Y (%) -0.32 0.03 0.07 0.11 0.15 0.23

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 18.70 -3.2 1.5 2.3 1.4 1.1
GDP Annual Growth Rate (%) -3.90 -3.8 2.5 15.1 9.5 2.7
Unemployment Rate (%) 9.00 11 10.5 10 9.8 9.5
Inflation Rate (%) 0.20 -0.1 0.3 1 1.2 1.4
Inflation Rate Mom (%) 0.20 0.4 0.4 0.3 0.4 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -5745.00 -2350 -2520 -5000 -4050 -4650
Current Account (EUR Million) -5690.00 -550 -2200 -2200 -2480 -780
Current Account to GDP (%) -0.70 -0.2 -0.3 -0.3 -0.3 -0.3
Government Debt to GDP (%) 98.10 116 111 111 111 111
Government Budget (% of GDP) -3.00 -11.4 -4.6 -4.6 -4.6 -4.6
Business Confidence (points) 92.00 92 94 93 95 97
Manufacturing PMI (points) 49.60 50.6 51.2 54 53.4 52.9
Services PMI (points) 38.80 44 50.8 53 52.5 52.5
Consumer Confidence (points) 90.00 92 95 97 96 98
Retail Sales MoM (%) 2.80 -0.7 1.1 0.9 -1.2 0.6
Corporate Tax Rate (%) 28.00 33.3 28 28 28 33.3
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 18.70 -3.2 1.5 2.3 1.4 1.1
GDP Annual Growth Rate (%) -3.90 -3.8 2.5 15.1 9.5 2.7
GDP (USD Billion) 2715.52 2400 2510 2510 2510 2510
GDP Constant Prices (EUR Million) 559361.00 590091 558833 560469 542439 601303
Gross Fixed Capital Formation (EUR Million) 131716.00 136172 133523 127971 122252 138760
GDP per capita (USD) 44317.40 41800 42600 42600 42600 42600
GDP per capita PPP (USD) 46183.50 44400 45600 45600 45600 45600
GDP From Agriculture (EUR Million) 8024.00 8057 7920 8351 8900 8210
GDP From Construction (EUR Million) 27242.00 28713 27735 25623 22568 29258
GDP From Manufacturing (EUR Million) 52834.00 59725 54735 54616 49178 60860
GDP From Services (EUR Million) 283842.00 301040 286100 288637 282466 306760
GDP From Transport (EUR Million) 20169.00 23642 21531 21085 18570 24091
GDP From Utilities (EUR Million) 11335.00 12898 11423 11730 11664 13143

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 9.00 11 10.5 10 9.8 9.5
Employed Persons (Thousand ) 28034.10 25900 26200 26700 27200 27700
Unemployed Persons (Thousand) 3549.70 4100 4070 3880 3750 3650
Employment Rate (%) 65.10 63.4 64 64.2 64.5 64.7
Long Term Unemployment Rate (%) 3.30 3 6.1 5.6 5.1 4.8
Youth Unemployment Rate (%) 20.70 17.6 23.6 23.1 22.6 22.3
Labour Costs (points) 104.50 110 103 106 112 110
Wages (EUR/Month) 3084.00 3034 3078 3087 3093 3052
Wages in Manufacturing (points) 105.10 103 104 104 105 104
Wage Growth (%) 0.20 -0.2 0.1 0.3 0.4 0.5
Minimum Wages (EUR/Month) 1539.42 1539 1590 1590 1590 1590
Population (Million) 66.98 67.67 67.91 67.91 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) -56.60 25 -32 -16 -46 -18
Labor Force Participation Rate (%) 71.60 70 70.2 70.6 70.8 71
Non Farm Payrolls (Thousand) 24832.90 21640 21950 22300 22500 22750
Nonfarm Payrolls Private (Thousand) 19442.10 16790 16990 17400 17900 18450
Employment Change (%) -2.60 -0.7 -0.7 0.6 0.3 0.4

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 0.20 -0.1 0.3 1 1.2 1.4
Inflation Rate Mom (%) 0.20 0.4 0.4 0.3 0.4 0.4
Consumer Price Index CPI (points) 104.74 105 105 106 106 106
Harmonised Consumer Prices (points) 105.53 106 106 107 107 107
Core Consumer Prices (points) 103.25 105 103 104 104 107
Core Inflation Rate (%) 0.30 0.2 0.5 0.8 1 1.2
Producer Prices (points) 100.40 108 101 100 101 111
Producer Prices Change (%) -2.00 -1.4 -0.1 0.8 1 1.2
Food Inflation (%) 1.50 1.5 1.4 1.5 1.7 1.8
CPI Housing Utilities (points) 105.12 106 106 106 106 108
CPI Transportation (points) 104.11 109 105 106 105 110

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.48 -0.06 -0.36 -0.36 -0.36 0.44
Banks Balance Sheet (EUR Million) 10702134.00 11210000 11590000 11280000 11320000 11470000
Loans to Private Sector (EUR Million) 2810695.00 2892000 2942000 2951000 2936000 2944000
Loan Growth (%) 8.53 5.2 4.5 3.8 3.2 2.9
Private Debt to GDP (%) 266.47 274 272 272 272 272
Central Bank Balance Sheet (EUR Million) 1693489.00 1590000 1630000 1620000 1615000 1610000

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Million) -5745.00 -2350 -2520 -5000 -4050 -4650
Current Account (EUR Million) -5690.00 -550 -2200 -2200 -2480 -780
Current Account to GDP (%) -0.70 -0.2 -0.3 -0.3 -0.3 -0.3
Imports (EUR Million) 43305.00 36500 39070 41200 42250 42500
Exports (EUR Million) 37559.00 34150 36550 36200 38200 37850
External Debt (EUR Million) 6061111.00 6551000 6782000 6672000 6542000 6423000
Foreign Direct Investment (EUR Million) 2637.00 -4330 2950 3200 2890 3620
Tourism Revenues (EUR Million) 3075.00 2250 2680 3600 3890 2990
Tourist Arrivals (Thousand) 89300.00 55000 64000 64000 64000 64000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 98.10 116 111 111 111 111
Government Budget (% of GDP) -3.00 -11.4 -4.6 -4.6 -4.6 -4.6
Government Budget Value (EUR Billion) -159.85 -62 -165 -40 -100 -65
Government Spending (EUR Million) 139279.00 151000 156000 154000 152000 149000
Government Spending to GDP (%) 55.60 63 58 58 58 58
Government Revenues (EUR Billion) 219.28 285 75 132 184 306
Government Debt (EUR Billion) 2638.30 2590 2720 2700 2680 2650
Fiscal Expenditure (EUR Billion) 371.52 450 115 232 322 446

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 28.00 33.3 28 28 28 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 (%) 68.00 59.2 68 68 68 59.2
Social Security Rate For Companies (%) 45.00 45 45 45 45 45
Social Security Rate For Employees (%) 23.00 14.2 23 23 23 14.2

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) 92.00 92 94 93 95 97
Manufacturing PMI (points) 49.60 50.6 51.2 54 53.4 52.9
Services PMI (points) 38.80 44 50.8 53 52.5 52.5
Composite PMI (points) 40.60 45.5 51.1 53.5 52.8 52.9
Industrial Production (%) -6.00 -3.2 6.5 16.2 5.9 5.1
Industrial Production Mom (%) 1.40 -0.8 1 0.9 -1 0.6
Manufacturing Production (%) -6.30 -3.4 7.1 17 6.8 5.5
Zew Economic Sentiment Index 24.20 1 2 14 12 5
Car Registrations 126047.00 164400 125400 149100 141200 178200
Mining Production (%) -0.30 -4 6.2 24 6.7 5.2
Business Climate Indicator (points) 79.00 83 91 90 92 95

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 90.00 92 95 97 96 98
Retail Sales MoM (%) 2.80 -0.7 1.1 0.9 -1.2 0.6
Retail Sales YoY (%) 5.90 -2.3 3.6 12.3 3.8 4.5
Consumer Spending (EUR Million) 309748.00 317695 303013 304013 301219 323731
Disposable Personal Income (EUR Million) 372815.00 373190 358344 380659 417681 380280
Personal Savings (%) 16.53 16 16.2 15.2 14.7 14.4
Households Debt To GDP (% of GDP) 62.70 70 68 68 68 68
Households Debt To Income (%) 98.12 104 101 101 101 101
Personal Spending (%) 3.70 -0.9 1 0.9 -1.2 0.6
Bank Lending Rate (%) 1.16 2.02 0.86 0.86 0.86 2.52
Gasoline Prices (USD/Liter) 1.68 1.56 1.51 1.43 1.36 1.48
Consumer Credit (EUR Million) 1538091.00 1439389 1427162 1529414 1733869 1466737

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -8.40 -4 25 29 6.8 6.2
Housing Index (points) 115.71 104 103 106 105 107
Home Ownership Rate (%) 65.10 63 62.8 62.8 62.8 62.8
Housing Starts (units) 38700.00 36200 27300 32500 32400 39400
New Home Sales (Units) 24308.00 26200 28200 30450 24500 32200
Construction PMI (points) 42.80 50.8 51 53.6 52.8 52.5
Building Permits 38400.00 36100 33100 31200 31400 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.