Markets Actual Q3 Q4 Q1 Q2 2021
Stock Market (points) 5076.19 4997 4888 4781 4676 4466
Currency 1.13 1.13 1.12 1.12 1.11 1.11
Government Bond 10Y (%) -0.12 0.01 0.02 0.03 0.05 0.07

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -5.30 8.9 3.2 2.5 1.9 1.5
GDP Annual Growth Rate (%) -5.00 -6.2 -3.8 2.5 15.1 2.7
Unemployment Rate (%) 7.80 9.6 11 10.5 10 9.8
Inflation Rate (%) 0.10 -0.1 -0.1 0.3 1 1.4
Inflation Rate Mom (%) -0.10 -0.2 0.4 0.4 0.3 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -5021.00 -2740 -1350 -520 -6000 -4650
Current Account (EUR Million) -5381.00 -1200 -550 -2200 -2200 -780
Current Account to GDP (%) -0.70 -0.2 -0.2 -0.3 -0.3 -0.3
Government Debt to GDP (%) 98.10 116 116 111 111 111
Government Budget (% of GDP) -3.00 -11.4 -11.4 -4.6 -4.6 -4.6
Business Confidence (points) 77.00 86 92 94 93 97
Manufacturing PMI (points) 52.30 47 50.6 51.2 54 52.9
Services PMI (points) 50.70 46 48 50.8 53 52.5
Consumer Confidence (points) 97.00 95 92 95 97 98
Retail Sales MoM (%) 25.60 -1.6 -0.7 1.1 0.9 0.6
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 Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -5.30 8.9 3.2 2.5 1.9 1.5
GDP Annual Growth Rate (%) -5.00 -6.2 -3.8 2.5 15.1 2.7
GDP (USD Billion) 2715.52 2400 2400 2510 2510 2510
GDP Constant Prices (EUR Million) 550488.00 545987 559463 564250 633612 574568
Gross Fixed Capital Formation (EUR Million) 124071.00 129951 133351 127173 142806 136952
GDP per capita (USD) 44317.40 41800 41800 42600 42600 42600
GDP per capita PPP (USD) 46183.50 44400 44400 45600 45600 45600
GDP From Agriculture (EUR Million) 8152.00 7705 7921 8356 9383 8135
GDP From Construction (EUR Million) 25073.00 27069 27729 25700 28859 28477
GDP From Manufacturing (EUR Million) 53489.00 53967 54737 54826 61566 56215
GDP From Services (EUR Million) 282959.00 279639 286799 290033 325686 294543
GDP From Transport (EUR Million) 20965.00 21462 21750 21489 24131 22337
GDP From Utilities (EUR Million) 11484.00 11266 11421 11771 13218 11729

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 7.80 9.6 11 10.5 10 9.8
Unemployed Persons (Thousand) 4167.40 4250 4400 4370 4180 3650
Employment Rate (%) 66.00 63.8 63.4 64 64.2 64.7
Long Term Unemployment Rate (%) 3.00 4.1 5.5 5 4.5 4.5
Youth Unemployment Rate (%) 21.20 22.9 24.3 23.8 23.3 23.3
Labour Costs (points) 106.20 102 103 106 107 103
Wages (EUR/Month) 3084.00 3059 3078 3087 3093 3093
Wages in Manufacturing (points) 104.10 103 104 104 104 104
Wage Growth (%) 0.20 -0.8 -0.2 0.1 0.3 0.5
Minimum Wages (EUR/Month) 1539.42 1539 1539 1590 1590 1590
Population (Million) 66.98 67.67 67.67 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) -148.30 30 25 -32 -16 -18
Labor Force Participation Rate (%) 71.70 70.4 70 70.2 70.6 71
Manufacturing Payrolls (Thousand) 2776.10 2810 2820 2820 2820 2850
Non Farm Payrolls (Thousand) 25041.40 22560 21640 21950 22300 22750
Nonfarm Payrolls Private (Thousand) 19248.30 16850 15790 15990 16600 16950
Employment Change (%) -0.20 0.3 -0.7 -0.7 0.6 0.4
Government Payrolls (Thousand) 5793.10 5810 5850 5850 5850 5900

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 0.10 -0.1 -0.1 0.3 1 1.4
Inflation Rate Mom (%) -0.10 -0.2 0.4 0.4 0.3 0.4
Consumer Price Index CPI (points) 104.65 104 105 105 106 106
Harmonised Consumer Prices (points) 105.42 105 106 106 106 107
Core Consumer Prices (points) 103.10 103 103 104 104 105
Core Inflation Rate (%) 0.60 0.1 0.2 0.5 0.8 1.2
Producer Prices (points) 98.50 99.82 103 101 99.29 104
Producer Prices Change (%) -4.10 -2.8 -1.4 -0.1 0.8 1.2
Food Inflation (%) 3.50 1.9 1.5 2 2.3 1.8
CPI Housing Utilities (points) 104.50 106 106 106 106 108
CPI Transportation (points) 103.53 107 109 105 105 110

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.15 -0.08 -0.08 -0.08 -0.08 -0.08
Banks Balance Sheet (EUR Million) 10520872.00 10980000 11210000 11590000 11280000 11470000
Loans to Private Sector (EUR Million) 2735293.00 2851000 2892000 2942000 2951000 2944000
Loan Growth (%) 8.53 6.4 5.2 4.5 3.8 2.9
Private Debt to GDP (%) 266.47 274 274 272 272 272
Central Bank Balance Sheet (EUR Million) 1406252.00 1550000 1590000 1630000 1620000 1610000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) -5021.00 -2740 -1350 -520 -6000 -4650
Current Account (EUR Million) -5381.00 -1200 -550 -2200 -2200 -780
Current Account to GDP (%) -0.70 -0.2 -0.2 -0.3 -0.3 -0.3
Imports (EUR Million) 28712.40 32990 33500 41070 42200 42500
Exports (EUR Million) 23691.40 30250 32150 40550 36200 37850
External Debt (EUR Million) 5566480.00 6210000 6551000 6782000 6672000 6423000
Foreign Direct Investment (EUR Million) 2243.00 -3220 -4330 2950 3200 3620
Tourism Revenues (EUR Million) 850.00 2510 2850 3020 4220 3290
Tourist Arrivals (Thousand) 89300.00 72000 72000 78000 78000 78000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 98.10 116 116 111 111 111
Government Budget (% of GDP) -3.00 -11.4 -11.4 -4.6 -4.6 -4.6
Government Budget Value (EUR Billion) -117.90 -120 -62 -40 -100 -65
Government Spending (EUR Million) 136597.00 147000 151000 156000 154000 149000
Government Spending to GDP (%) 55.60 63 63 58 58 58
Government Revenues (EUR Billion) 99.56 175 285 75 132 306
Government Debt (EUR Billion) 2380.10 2520 2590 2720 2700 2650
Fiscal Expenditure (EUR Billion) 189.91 320 450 115 232 446

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2021
Business Confidence (points) 77.00 86 92 94 93 97
Manufacturing PMI (points) 52.30 47 50.6 51.2 54 52.9
Services PMI (points) 50.70 46 48 50.8 53 52.5
Composite Pmi (points) 51.70 47 49.5 51.1 53.5 52.9
Industrial Production (%) -34.20 -6.3 -3.2 6.5 16.2 5.1
Industrial Production Mom (%) -20.10 -1.3 -0.8 1 0.9 0.6
Manufacturing Production (%) -37.10 -7.6 -3.4 7.1 17 5.5
New Orders (points) -55.60 -10 -10 -10 -10 -10
Zew Economic Sentiment Index 58.00 6 1 2 14 5
Car Registrations 233818.00 129100 164400 125400 149100 178200
Mining Production (%) -54.90 -7 -4 6.2 24 5.2
Changes In Inventories (EUR Million) 6748.00 6800 4500 4500 4500 3800

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 97.00 95 92 95 97 98
Retail Sales MoM (%) 25.60 -1.6 -0.7 1.1 0.9 0.6
Retail Sales YoY (%) -12.00 -4.2 -2.3 3.6 12.3 4.5
Consumer Spending (EUR Million) 297570.00 294658 303069 305009 342503 311252
Disposable Personal Income (EUR Million) 372212.00 346249 358351 381517 428416 368026
Personal Savings (%) 19.57 18 16 16.2 15.2 14.4
Households Debt To GDP (% of GDP) 61.90 70 70 68 68 68
Households Debt To Income (%) 95.88 104 104 101 101 101
Personal Spending (%) 36.60 -1.8 -0.9 1 0.9 0.6
Bank Lending Rate (%) 0.42 0.38 0.38 0.38 0.38 0.38
Gasoline Prices (USD/Liter) 1.56 1.48 1.41 1.34 1.27 1.21
Consumer Credit (EUR Million) 1496144.00 1368371 1427162 1529414 1712950 1465695

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -61.00 -7.2 -4 25 29 6.2
Housing Index (points) 112.58 104 101 103 106 107
Home Ownership Rate (%) 65.10 63 63 62.8 62.8 62.8
Housing Starts (units) 19200.00 29900 36200 27300 32500 39400
New Home Sales (Units) 24022.00 19500 26200 28200 30450 32200
Construction Pmi (points) 53.80 49 50.8 51 53.6 52.5
Building Permits 17900.00 28100 36100 33100 31200 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.