Economic Indicators

French economy grinds to a halt in first quarter, worse than forecast

2022.04.29 08:46

French economy grinds to a halt in first quarter, worse than forecast
FILE PHOTO: An aerial view shows the Eiffel tower, the Seine River and the Paris skyline, France, July 14, 2019. REUTERS/Philippe Wojazer

PARIS (Reuters) – France’s economy ground unexpectedly to a halt in the first quarter as consumer spending dropped in the face of an energy price shock and war in Ukraine, preliminary data from the INSEE official stats agency showed on Friday.

The zero growth in the first quarter marks a sharp slowdown from the final three months of 2021, when the euro zone’s second-biggest economy expanded 0.8%, which was revised up from 0.7% previously.

That was weaker than expectations for growth of 0.3% in a Reuters poll of 24 economists which ranged from 0.6% to -0.1%.

Household spending, the traditional driver of French growth, fell 1.3% in the quarter as high energy prices and the war in Ukraine hit consumer confidence.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 97,443.11 1.50%
ethereum
Ethereum (ETH) $ 3,336.10 2.32%
tether
Tether (USDT) $ 1.00 0.05%
solana
Solana (SOL) $ 246.66 4.85%
bnb
BNB (BNB) $ 650.38 2.95%
xrp
XRP (XRP) $ 1.36 11.89%
dogecoin
Dogecoin (DOGE) $ 0.416524 11.13%
usd-coin
USDC (USDC) $ 1.00 0.02%
cardano
Cardano (ADA) $ 0.989753 8.46%
staked-ether
Lido Staked Ether (STETH) $ 3,338.16 2.14%
tron
TRON (TRX) $ 0.204529 7.02%
avalanche-2
Avalanche (AVAX) $ 39.88 7.02%
stellar
Stellar (XLM) $ 0.534932 22.46%
the-open-network
Toncoin (TON) $ 6.00 3.21%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 9.29%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,965.16 1.95%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,309.07 1.17%
polkadot
Polkadot (DOT) $ 8.41 4.63%
chainlink
Chainlink (LINK) $ 16.63 4.30%
bitcoin-cash
Bitcoin Cash (BCH) $ 492.58 7.56%
weth
WETH (WETH) $ 3,335.63 2.23%
sui
Sui (SUI) $ 3.28 7.86%
pepe
Pepe (PEPE) $ 0.00002 9.78%
leo-token
LEO Token (LEO) $ 8.64 0.25%
near
NEAR Protocol (NEAR) $ 6.29 1.52%
litecoin
Litecoin (LTC) $ 94.84 7.89%
aptos
Aptos (APT) $ 11.96 6.53%
uniswap
Uniswap (UNI) $ 10.55 0.64%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,512.80 2.26%
hedera-hashgraph
Hedera (HBAR) $ 0.144057 4.75%
usds
USDS (USDS) $ 0.998666 0.34%
internet-computer
Internet Computer (ICP) $ 10.86 6.71%
crypto-com-chain
Cronos (CRO) $ 0.188099 4.32%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.542468 2.98%
ethereum-classic
Ethereum Classic (ETC) $ 28.12 7.75%
render-token
Render (RENDER) $ 7.53 3.90%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
kaspa
Kaspa (KAS) $ 0.149276 8.58%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.43 4.97%
bittensor
Bittensor (TAO) $ 499.09 5.86%
whitebit
WhiteBIT Coin (WBT) $ 24.46 0.88%
dai
Dai (DAI) $ 1.00 0.08%
arbitrum
Arbitrum (ARB) $ 0.827254 3.16%
bonk
Bonk (BONK) $ 0.000045 12.31%
mantra-dao
MANTRA (OM) $ 3.72 3.26%
cosmos
Cosmos Hub (ATOM) $ 8.60 5.60%
vechain
VeChain (VET) $ 0.040601 6.01%
celestia
Celestia (TIA) $ 7.89 26.25%
filecoin
Filecoin (FIL) $ 5.45 4.71%
okb
OKB (OKB) $ 52.76 3.86%