Category: france
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France in Turmoil: Building Construction Industry Faces Dark Times in May 2023
Paris, France – In a recent survey conducted in May 2023, business sentiment within the building construction industry has taken a severe hit, signaling a significant deterioration in the sector. The synthetic indicator, standing at 108, has plummeted by 3 points, reflecting a concerning downturn across multiple key areas including activity, order books, expected prices,…
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Wholesale Trade Business Climate Deteriorates in France in May 2023
In May 2023, the business climate in wholesale trade in France has experienced a significant deterioration, according to a bimonthly survey of business managers. The composite indicator has dropped by four points compared to March 2023, standing at 94, moving away from the long-term average of 100. Most opinion balances in the sector have worsened,…
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Household Confidence in France Remains Stable in May 2023
Paris, France – In May 2023, the confidence of French households in the economic situation has remained stable, according to the monthly consumer confidence survey. The indicator, which summarizes household confidence, stands at 83, unchanged from the previous month. However, it remains significantly below the long-term average of 100, calculated between January 1987 and December…
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France’s Services Sector Faces Third Consecutive Month of Deteriorating Business Climate in May 2023
In the month of May 2023, the business climate in France’s services sector witnessed a concerning decline for the third consecutive month, according to a monthly survey conducted among business managers. The indicator that synthesizes the overall business climate dropped by two points to 101, although it managed to remain slightly above its long-term average…
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G7 Leaders’ Call for Peace and Support for Ukraine
In a historic gathering, the leaders of the G7 nations came together to issue a strong statement condemning Russia’s illegal aggression against Ukraine. The statement, released on May 19, 2023, reaffirms the commitment of the G7 countries to stand together against Russia’s war of aggression and calls for a comprehensive, just, and lasting peace in…
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France’s Unemployment Rate Remains at 8.3% in Q1 2023, Indicating Stability in Job Market
France, May 17, 2023 – The International Labour Office (ILO) has released its latest report on the labor market in France, revealing that the country’s unemployment rate remained stable at 7.1% in the first quarter of 2023. The report indicates a slight decrease of 7,000 unemployed individuals over the quarter, bringing the total number of…
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Prices of frequently purchased goods in French hyper and supermarkets rise by 15.1% year on year in April 2023
In April 2023, the prices of frequently purchased goods in hyper and supermarkets rose by 15.1% YoY, marking the seventeenth consecutive month of acceleration. Food prices in hyper and supermarkets continued to rise, increasing by 15.8% YoY in April. The prices of meat, beverages, and other food products also increased YoY in April. Cleaning and…
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France’s 2024-2030 military program focuses on strengthening moral forces and involving civilians in defense efforts
The French Ministry of Defence has unveiled its 2024-2030 military programming law, which seeks to adapt the military to evolving threats while improving the relationship between the military and society. Among the key measures of the plan are an increased reserve of military personnel, with a target of one operational reservist for every two active-duty…
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France’s Private Payroll Employment Shows Moderate Increase of 0.2% in Q1 2023, Marking Ninth Consecutive Quarter of Growth
Private payroll employment in the first quarter of 2023 increased by 0.2% (or +42,000 net job creations) compared to the previous quarter. This marks the ninth consecutive quarter of growth. Meanwhile, temporary employment declined by 2.6% or 21,400 jobs, offsetting the gains in the previous two quarters. Excluding temporary work, private payroll employment in market…
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India’s Prime Minister Narendra Modi to attend France’s Bastille Day Parade as Guest of Honour
France and India have released a joint statement to mark the 25th anniversary of their strategic partnership. Indian Prime Minister Narendra Modi has accepted an invitation from French President Emmanuel Macron to attend this year’s Bastille Day Parade as a Guest of Honour in Paris on July 14, 2023. An Indian armed forces contingent will…
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France’s GDP Shows Modest Growth of 0.2% in Q1 2023 Despite Negative Domestic Demand Contribution
France’s GDP rose moderately by 0.2% in the first quarter of 2023 in volume terms, following a period of stability in the previous quarter. Final domestic demand contributed negatively to GDP growth, however, less than in the previous quarter, due to stable household consumption. Foreign trade contributed positively to GDP growth, while the contribution of…
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Consumer prices in France rise 5.9% YoY in April 2023
Consumer prices in France increased by 5.9% year-on-year in April 2023, according to provisional estimates. This rise in inflation is expected to be driven by an acceleration in energy and services prices, as well as tobacco, while food prices are expected to slow down. Over one month, consumer prices are expected to increase by 0.6%…
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Survey Shows Services Sector Business Climate in France Deteriorates in April 2023
According to the monthly survey of services conducted in France in April 2023, business managers reported a decline in the business climate in the services sector. The business climate indicator dropped by two points to 103, mainly due to the decline in forward-looking balances of opinion on activity, demand, and workforce size. The balance of…
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The French report shows significant drops in oil and imported raw material prices in March 2023, while food commodity prices remained stable.
The report indicates that in March 2023, the price of oil in euros went down significantly by 5.2% after a 0.9% increase in February. The price of North Sea crude oil (Brent) in dollars also declined substantially by 5.3%, reaching an average of $78.4 per barrel. This drop in oil prices had a direct impact…
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INSEE projections show France’s working population to decrease from 2040
According to the latest projections from INSEE, the working population in France will continue to grow slightly over the next two decades, rising from 30.1 million in 2021 to 30.5 million in 2040, before decreasing to 29.2 million in 2070. The decline after 2040 is due to a decrease in the working-age population, which is…
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France’s Employment Market Bounces Back Strongly in 2021 with 965,000 New Jobs Created
According to the Department of Employment and Income from Activity (Insee), employment in France has strongly recovered in 2021, surpassing its pre-crisis level at the end of 2019. The proportion of part-time work and underemployment has also decreased significantly, and the skill level of jobs has increased. Unemployment and its halo have decreased by 0.8…
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ECB Receives Recommendations from Expert Group on European Banking Supervision to Enhance Risk-Based Prioritization and Address Weak Business Models and Governance Practices.
ECB welcomes expert group recommendations for enhancing risk-based prioritisation in European banking supervision. The report recommends that the ECB focuses on qualitative measures to address weak business models and governance. The insights from the report will be used in the ECB’s review of supervisory processes planned for 2024. The expert group found that supervisory practices…