Thursday April 13 2017
France Inflation Rate Confirmed At 1.1% In March
Insee l Chusnul Ch Manan | chusnul@tradingeconomics.com

Consumer prices in France rose by 1.1 percent year-on-year in March of 2017, following a 1.2 percent increase in February and matching the preliminary figure. It was the lowest inflation rate since December 2016, as prices for food and energy went up at a slower pace while cost of manufactured products fell.

Year-on-year, upward price pressure came from: Food (0.8 percent from 1.6 percent in February), of which fresh food (4.6 percent) and other food (0.2 percent); tobacco (2.8 percent from 1 percent), as a result of a tax increase; energy (9.9 percent from 11.4 percent), of which petroleum products (17 percent); and services (inflation steady at 1.1 percent), of which actual rentals and services for dwellings (0.5 percent), health (0.4 percent), transport (1.4 percent) and other services (1.5 percent). In contrast, downward price pressure was recorded mainly for manufactured goods (-1 percent from -1.6 percent in February).

Annual core inflation, which excludes public sector prices, the most volatile consumer prices and the tax measures, rose to 0.4 percent from 0.2 percent in February.

On a monthly basis, consumer prices rose 0.6 percent, after increasing by 0.1 percent in the prior month. The acceleration resulted from a rebound in the prices of manufactured products (2.5 percent) after the end of winter sales and from a further rise in tobacco prices (1.8 percent). By contrast, food prices slipped back (-0.3 percent) due to fresh products (-2.4 percent), and energy prices fell too (-0.5 percent), amid a drop in petroleum product prices (-1.6 percent).

The harmonised index of consumer prices rose by 1.4 percent from the previous year and by 0.7 percent month-over-month.
 
 




Friday April 07 2017
France Trade Gap Narrows In February
Ministère de l'Économie et des Finances l Rida Husna | rida@tradingeconomics.com

France recorded a trade gap of EUR 6.57 billion in February of 2017, compared to an upwardly revised EUR 8.1 billion deficit in January while markets expected a EUR 4.90 billion shortfall, as exports rose 1.6 percent month-on-month to EUR 37.80 billion while imports fell 2.0 percent to EUR 44.36 billion.

In February, sales went up for: aerospace industry products (20.8 percent), pharmaceuticals (2.5 percent), metallurgical and metal products (1.3 percent), electrical and household equipments (2.9 percent); ships, train, bikes (18.2 percent); perfumes, cosmetics, cleaning products (4.4 percent), chemicals (1.8 percent); rubber products, plastics, various minerals (0.6 percent) and wood, paper and cardboard (2.1 percent). In contrast, outbound shipments fell for: natural hydrocarbons (-0.7 percent), jewelry, toys, furniture (-2.3 percent); textiles, leather (-0.7 percent), industrial & agriculture machinery (-0.5 percent), agriculture (-1.3 percent), automotive products (-4.4 percent) and refined oil (-4.8 percent).

Exports increased to Asia (15.2 percent) and the Middle-East countries (15.8 percent). In contrast, sales declined to the EU countries (-1.5 percent), the European countries outside EU (-0.9 percent), America (-1.1 percent) and Africa (-1.3 percent).

Imports decreased for: aerospace industry (-11.7 percent), pharmaceuticals (-26.4 percent), natural hydrocarbons (-7.0 percent); jewelry, toys, furniture (-9.0 percent), metallurgical and metal products (-3.9 percent),  electrical and household equipments (-4.8 percent); ships, trains, bikes (-9.7 percent); perfumes, cosmetics, cleaning products (-1.5 percent); rubber products, plastics, various minerals (-0.8 percent), textiles, leather (-1.2 percent) and automotive products (-1.6 percent). In contrast, outbound shipments rose for: chemicals (0.7 percent); wood, paper, cardboard (1.6 percent), industrial & agricultural machinery (0.4 percent); works of arts, technical documentation, publishing products (21.2 percent) and refined oil (39.3 percent).




Friday March 31 2017
France Inflation Rate Slows To 1.1% In March
INSEE l Rida Husna | rida@tradingeconomics.com

Consumer prices in France are set to rise 1.1 percent year-on-year in March of 2017, compared to a 1.2 percent gain in February, preliminary estimates showed. While prices went up at a slower pace for food, energy and services, cost of manufactured products continued to fall.

Year-on-year,  prices increased less than in a month earlier for: food (0.8 percent, namely fresh food: 4.5 percent and other food: 0.2 percent), tobacco (2.8 percent), energy (9.9 percent) and services (1.0 percent). In contrast, prices fell for manufactured products (-1.0 percent).

On a monthly basis,  consumer prices  are expected to increase 0.6 percent, after a 0.1 percent rise in the previous month. It was the highest figure since March 2016. 

The Harmonized Index of Consumer Prices (HICP) rose 0.7 percent on the month, following a 0.1 percent increase in a month earlier . Year-on-year, it rose 1.4 percent, the same as in a month earlier.


Friday March 24 2017
France GDP Growth Matches Estimates In Q4
Insee | Rida Husna | rida@tradingeconomics.com

France GDP advanced 0.4 percent quarter-on-quarter in the December quarter of 2016, compared to a 0.2 percent growth in the three months to September and in line with second estimates, final figures showed. It was the second straight quarter of growth and the strongest since the March quarter, driven by faster rises in household consumption and investment while net external demand contributed slightly to the GDP.

In the three months to December 2016, household consumption rose 0.6 percent, following a 0.1 percent rise in the previous two quarters. Government expenditure went up 0.3 percent, the same as in the preceding quarter. Total gross fixed capital formation grew by 0.5 percent, compared to a 0.2 percent growth in the third quarter. Final domestic demand (excluding changes in inventories) contributed 0.5 points to GDP growth, up significantly from 0.2 points in the prior quarter.

Exports rose 1.3 percent, faster than a 0.8 percent rise in the September quarter. Imports went up 0.9 percent, slowing sharply from a 2.7 percent increase in the preceding quarter. The foreign trade balance contributed positively to the economy (0.1 points after -0.6 points in the third quarter). In contrast, changes in inventories contributed negatively: -0.2 points after +0.7 points in the September quarter.

Year-on-year, the GDP grew 1.1 percent, compared to a 0.9 percent expansion in the third quarter and matching preliminary estimates.




Wednesday March 15 2017
France Inflation Rate Confirmed At 1.2% In February
Insee l Rida Husna | rida@tradingeconomics.com

Consumer prices in France rose 1.2 percent year-on-year in February of 2017, compared to a 1.3 percent increase in January and matching a preliminary figure. While cost of food, energy and services went up, cost of manufactured products fell.

Year-on-year, upward prices pressure came from: food (1.3 percent), fresh food (11.0 percent), other food (0.1 percent), tobacco (1.0 percent), petroleum products (21.8 percent), actual rentals and services for dwellings (0.4 percent), health (0.3 percent), transport (1.9 percent) and other services (1.4 percent). In contrast, downward prices pressure was recorded for: clothing and footwear (-3.0 percent), medical products (-2.4 percent), other manufactured products (-0.9 percent) and communication (-0.3 percent). 

On a monthly basis, consumer prices rose 0.1 percent, after falling 0.2 percent in the prior month and in line with expectations. Prices went up for: food (0.3 percent), fresh food (1.8 percent), other manufactured products (0.1 percent), tobacco (0.9 percent), petroleum products (0.2 percent), healthcare (0.2 percent), actual rental and services for dwellings (0.1 percent), health services (0.2 percent), transport (1.2 percent), communication (0.7 percent) and other services (0.3 percent). In contrast, cost fell for: clothing and footwear (-2.2 percent), other manufactured products (-0.4 percent) and medical products (-0.2 percent). Cost was flat for other food.

In February, core inflation indicator (ISJ) fell 0.4 percent on the month, following a 0.4 percent rise in January. Compared to the same month a year earlier, it rose 0.2 percent, following a 0.7 percent rise in the preceding month. 

The Harmonized Index of Consumer Prices (HICP) went up 0.2 percent on the month, following a 0.3 percent drop in a month earlier while market expected a 0.1 percent rise Year-on-year, it rose 1.4 percent, compared to a 1.6 percent rise in January.


Wednesday March 08 2017
France Posts Largest Trade Gap On Record In January
Ministère de l'Économie et des Finances l Rida Husna | rida@tradingeconomics.com

France recorded a trade gap of EUR 7.94 billion in January of 2017, compared to an upwardly revised EUR 3.57 billion deficit in December while markets expected a EUR 3.70 billion shortfall. It was the largest deficit on record, as exports fell 7.7 percent month-on-month to EUR 37.19 billion while imports rose 2.9 percent to EUR 45.13 billion.

In January, sales went down for: aerospace industry products (-45.8 percent), pharmaceuticals (-1.3 percent), industrial & agriculture machinery (-0.1 percent), chemicals (-1.5 percent), electrical and household equipments (-3.1 percent), perfumes, cosmetics, cleaning products (-2.8 percent); ships, train, bikes (-4.7 percent) and refined oil (-4.0 percent). In contrast, outbound shipments rose for: textiles, leather (0.4 percent), agricultural products (1.2 percent), automotive products (0.6 percent);  jewelry, toys, furniture (7.2 percent) and  works of arts, technical documentation, publishing products (3.0 percent).

Exports declined to all destinations: America (-4.9 percent), Africa (-1.4 percent), the European countries outside EU (-3.6 percent), the Middle-East countries (-32.0 percent), the EU countries (-0.4 percent) and Asia (-29.8 percent).

Imports increased for: pharmaceuticals (34.0 percent), natural hydrocarbons (23.2 percent); works of arts, technical documentation, publishing products (8.7 percent); ships, trains, bikes (6.2 percent), industrial and agriculture machinery (3.9 percent), chemicals (2.0 percent); jewelry, toys, furniture (3.1 percent), electrical and household equipments (2.6 percent), metallurgical and metal products (4.9 percent) and perfumes, cosmetics, cleaning products (2.4 percent). In contrast, purchases dropped for: textiles, leather (-3.0 percent), agricultural products (-3.3 percent), automotive products (-0.5 percent) and refined oil (-2.7 percent).


Tuesday February 28 2017
France Inflation Rate Eases To 1.2% In February
INSEE l Chusnul Ch Manan| chusnul@tradingeconomics.com

Consumer prices in France are set to rise 1.2 percent year-on-year in February of 2017, compared to a 1.3 percent gain in January, preliminary figure showed. While prices of food, energy and services rose at faster paces, cost of manufactured products fell more than in a month earlier.

Year-on-year, upward prices pressure came from: food (1.5 percent), fresh food (10.8 percent), other food (0.1 percent), tobacco (1.0 percent), energy (11.4 percent) services (1.1 percent). In contrast, downward prices pressure was recorded for: manufactured products (-1.6 percent).

On a monthly basis,  consumer prices  are expected to increase 0.1 percent, after a 0.2 percent fall in the previous month. 

The Harmonized Index of Consumer Prices (HICP) edge up by 0.1 percent on the month, following a 0.3 percent decrease in a month earlier . Year-on-year, it rose 1.4 percent, compared to a 1.6 percent rise in January.


Tuesday February 28 2017
France GDP Growth Confirmed At 0.4% QoQ In Q4
Insee l Rida | rida@tradingeconomics.com

France GDP expanded 0.4 percent quarter-on-quarter in the December quarter of 2016, compared to a 0.2 percent growth in the three months to September and in line with preliminary figures, second estimate showed. It was the second straight quarter of growth and the strongest since the March quarter, driven by a faster increase in household consumption, government spending and investment while net external demand contributed slightly to the GDP.

In the fourth quarter, household consumption rose 0.6 percent, following a 0.1 percent rise in the previous two quarters. Government expenditure increased 0.4 percent, faster than a 0.3 percent increase in the preceding quarter. Total gross fixed capital formation grew by 0.4 percent, compared to a 0.2 percent growth in the third quarter. Final domestic demand (excluding changes in inventories) contributed 0.5 points to GDP growth, up significantly from 0.2 points in the prior quarter.

Exports increased by 1.3 percent, faster than a 0.8 percent rise in the September quarter. Imports also went up 1.0 percent, slowing sharply from a 2.7 percent increase in the preceding quarter. The foreign trade balance contributed positively to the economy (0.1 points after -0.6 points in the third quarter). In contrast, changes in inventories contributed negatively: -0.1 points after +0.7 points in the September quarter.

Year-on-year, the GDP grew 1.1 percent, compared to a 1.0 percent expansion in the third quarter and in line with preliminary estimates.


Tuesday February 21 2017
France Inflation Rate Revised Down Slightly To 1.3%
Insee l Rida Husna | rida@tradingeconomics.com

Consumer prices in France rose 1.3 percent year-on-year in January of 2017, lower than a preliminary figure of 1.4 percent rise but much faster than a 0.6 percent gain in December. It was the highest inflation rate since November 2012, mainly driven by a surge in cost of energy and a faster increase in prices of food and services while cost of manufactured products fell much less than in a prior month.

Year-on-year, upward prices pressure came from: food (1.3 percent), fresh food (9.0 percent), other food (0.1 percent), tobacco (+0.1 percent), clothing & footwear (5.1 percent), petroleum products (19.9 percent), actual rentals and services for dwellings (0.3 percent), health (0.3 percent), transport (1.1 percent) and other services (1.3 percent). In contrast, downward prices pressure was recorded for: medical products (-2.5 percent), other manufactured products (-0.7 percent) and communication (-01.1 percent). 

On a monthly basis, consumer prices fell 0.2 percent, after gaining 0.3 percent in the prior month and in line with expectations. Prices declined for: clothing and footwear (-12.4 percent), other manufactured products (-0.4 percent), transport (-3.5 percent) and communication (-3.4 percent). In contrast, cost rose for: food (0.4 percent), fresh food (2.8 percent), other food (0.1 percent), petroleum products (7.5 percent), healthcare (0.2 percent) and other services (0.4 percent). Cost was flat for: tobacco and actual rentals and services for dwellings.

In January, core inflation indicator (ISJ) went up 0.4 percent on the month, following a 0.1 fall in December. Compared to the same month a year earlier, it rose 0.7 percent, following a 0.4 percent rise in the preceding month.

The Harmonized Index of Consumer Prices (HICP)declined by 0.3 percent on the month, following a 0.3 percent rise in a month earlier while markets expected a 0.2 percent drop. Year-on-year, it rose 1.6 percent, compared to a 0.8 percent rise in December.


Thursday February 16 2017
France Jobless Rate Edges Down To 10.0% In Q4
Insee l Rida Husna | rida@tradingeconomics.com

Unemployment rate in France fell slightly to 10.0 percent in the three months to December of 2016, compared to an upwardly revised 10.1 percent in the September quarter while market expected 9.7 percent.

In metropolitan France only, with 2.8 million people, 9.7 percent of the active population was unemployed, down slightly from 9.8 percent in the previous three months. The unemployment decreased among youths and persons aged 50 and over while it increased for men aged 25 to 49. Compared to the previous year, it dropped by 0.2 percentage points. Among inactive people, 1.5 million wish to work but they are not considered as unemployed (unemployment halo). The number of people in the unemployment halo rose 21,000 quarter-on-quarter in the December quarter and up by 65,000 over a year.

In the December quarter, the employment rate of the population aged 15-64 years stood at 64.7 percent, up 0.1 percentage points compared to the third quarter. Permanent employment rate for people aged 15-64 came in at 48.7 percent, up by 0.2 percentage points quarter-on-quarter and by 0.1 percentage points year-on-year. Meanwhile, fixed term and temporary contracts employment rate stood at 7.5 percent, up 0.1 percentage points from the previous quarter and over the year.

The activity rate of people aged at 15-64  stood at 71.7 percent in the fourth quarter, the same as in the prior quarter but up 0.1 percentage points from the December quarter 2015.

About  6.2 percent of the persons employed were underemployed, decreasing by 0.1 percentage points over the quarter. Slack work stood at 0.2 percent of the persons employed.