Gross domestic product in France rose 0.1% in the third quarter, offering some support to the euro area amidst higher interest rates and manufacturing weakness. While Germany reported a small drop in GDP, Spain and Belgium recorded expansions, while Austria and Ireland shrank. Europe faces challenges such as inflation, softer Chinese demand, and withdrawal of energy-support measures.
-- French output grew slightly in the third quarter — providing some support to the euro area as it grapples with higher interest rates and prolonged manufacturing weakness .Gross domestic product in the bloc’s second-largest economy rose 0.1% in the three months through September, data Tuesday showed. That’s down from a revised 0.6% in the previous quarter and is in line with expectations.
France showed resilience in the earlier part of this year, thanks in part to strong exports. But in the third quarter, foreign sales fell significantly, while consumer spending grew. Getting price gains back under control remains the priority, though, he said after the European Central Bank last week pledged to keep monetary policy tight following a streak of 10 rate hikes.“You can’t have solid growth if you don’t get rid of inflation definitively,” Le Maire said. “Our goal is to go back below 4% inflation from the end of 2023.
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French Output Third Quarter Euro Area Interest Rates Manufacturing Weakness GDP Germany Recession Spain Belgium Austria Ireland Euro Zone Inflation Chinese Demand Energy-Support Measures
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