According to the INSEE first estimate, French real GDP rose by 0.3% q/q in Q4 2018. This figure is not a strong one but this is still relatively good news as growth was slightly above expectations (surprising on the upside for the first time in 2018) and slightly above Eurozone growth (for the second quarter in a row). Judging by the January surveys available to date (new fall in the composite PMI, unchanged INSEE business confidence indicator, sharp rebound in consumer confidence), 2019 starts like 2018 ended: on a mixed note. And this is expected to continue all year long: instead of regaining some momentum, we now forecast French growth to keep on growing at the same rate as in Q4 2018, a slow pace (because of stronger external headwinds) but nonetheless resistant (thanks to the positive economic and fiscal policy impetus).
Index France
