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 5025.20
points
5456 5404 5352 5300 5099
Government Bond 10Y 0.77
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 -20.00
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



France - Economic Forecasts - 2018-2020 Outlook