The government is still expecting growth of 2.5 % for the year 2022, a forecast slightly more optimistic than the anticipations of the Banque de France and the IMF (+ 2.3 %).
Le Monde with AFP and Reuters
French growth was well established at 0.5 % in the second quarter, announcement The National Institute of Statistics and Economic Studies (INSEE), Wednesday August 31.
This growth of growth is explained in particular by a revival of household consumption (+ 0.3 %, against a decline of 1.2 % in the first quarter), “particularly in accommodation and catering (+ 13.4 %, after – 2.6 %) “, details INSEE. To maintain their expenses despite inflation, which increased sharply in the second quarter, the French drew from their savings. As a result, “the household savings rate decreases sharply: it was 15.5 %, after 16.7 % in the first quarter of 2022”. In 2019, before the emergence of the COVID-19, the average level of this rate was however even lower, at 15 %.
The purchasing power of households continued to retreat in the second quarter ( – 1.1 %, after – 1.6 % over the first three months of the year).
light progression Exports
Traditional weak point of France, this time the foreign trade has contributed positively to the evolution of the gross domestic product (GDP) between April and June. Exports increased slightly (+ 0.9 %), while imports remained stable (0 %).
Based on this data, INSEE assesses the growth in growth – the growth that we would obtain if the economy stagnated for the rest of the year – at 2.5 % for the year 2022. This figure is identical to that of the government’s growth forecast, but slightly more optimistic than the anticipations of the Banque de France and the International Monetary Fund (IMF), at 2.3 %.
slowdown in Inflation
The increase in consumer prices in France window Sleaned up in August, 5.8 % over one year , against 6.1 % in July, according to provisional data published by INSEE on Wednesday. This drop in inflation is due “to the slowdown in energy prices”, explains the National Institute of Statistics, while the increase in prices of manufactured and food products is accelerating and that of prices Services progress at the same rate as in July. Over a month, however, the increase accelerates with consumer prices that increase by 0.4 % between July and August, against 0.3 % between June and July. “Aria-Hidden =” True “>
This is the first slowdown in the increase in consumer prices in France in annual sliding since July 2021, when inflation was limited to 1.2 %. Between November and December 2021, prices had increased at the same rate, 2.8 % over a year.