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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FRANCE DATA
MNI (London)
FRANCE Q3 FLASH GDP +0.2% Q/Q; +1.0 % Y/Y, Q2 +4.2% Y/Y
FRANCE SEP CONSUMER SPENDING +1.2% M/M; -3.0% Y/Y; AUG -3.8% Y/Y
- French flash Q3 GDP and September consumer spending both largely in line with forecasts.
- The French economy saw weaker Q3 growth of +0.2% q/q and +1.0% y/y. Gross fixed capital formation accelerated sharply, total production slowed due to weaker services, household consumption expenditure was flat and foreign trade was a downwards driver.
- Consumer spending grew by +1.2% m/m after almost stalling in August, contracting by -3.0% y/y compared to September 2021. September spending was boosted by manufactured goods and energy, with an optimistic increase in clothing spending. Energy spending was boosted by fuel discounts.
- Taken together, this data hints at slowing consumer demand in the French economy. The fall in services and household consumption could decline further ahead as consumer sentiment remains pessimistic.
- High energy prices are spilling over into more broad-based inflation, reducing purchasing power. Inflation data is due at 0745 BST, with a 0.3pp uptick to +6.5% y/y forecast in the harmonised print.
Source: Insee
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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