The latest economic indicators all surprised favourably (positive z-score on the x-axis), reinforcing the global picture of a slow but resistant French growth and, consequently, our Q1 growth forecast of 0.3% QoQ. Thanks to the improvement in February of Markit PMIs as well as INSEE and Bank of France surveys, business confidence looks slightly better oriented. Consumer confidence, for its part, improved in a much more significant way. January hard data were also positive: household expenditure on goods and industrial production both recorded an important rebound.
Index France
