No growth in France in the second quarter

No growth in France in the second quarter

Activity stagnated in the second quarter in France, growth was at zero whereas it was expected to rise by 0.3%.

No growth in France in the second quarter

It is a disappointment: French growth stagnated in the second quarter, yet it was expected to rise by 0.3%. “It’s a cold shower, it’s as if the French economy had frozen in the spring, indicates Hervé Godechot, live on the France 3 set. In France, consumption plays a particularly important role and there it was zero. The atmosphere of the attacks and social movements has undoubtedly cooled the ardor of the French, but also of foreign tourists.“.

Declining investments

For example, there is a decline in spending on hotels and restaurants. As a result, consumption of services fell by 0.1% despite the Football Euro. “The drop in refinery output in May and June alone contributed significantly to the 1% drop in the production of manufactured goods. Investment also fell – 0.4%. The bosses raised the pen while waiting for something better ”, continues the journalist. Despite everything, the government remains optimistic. “Bercy is still hoping for 1.5% growth in 2016“, He adds.