FLFR - French Domestic Demand Remains Strong
By Julien Manceaux, Senior Economist
In France, GDP growth (0.26% quarter on quarter) was disappointing in 3Q19. The rebound in private consumption was not entirely on track, but business investments continued their upward trajectory. We maintain our growth forecast of 1.3% in 2019, but expect a slowdown in the first half of 2020.
Businesses the main driver of domestic demand
GDP growth in the first quarter of 2019 was slightly lower than ING expectations. The rebound in private consumption did not completely meet expectations. Nevertheless, domestic demand was robust in Q3, particularly related to business