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France: economic growth forecast 2024

Check the latest article of our member Global Connect Admin B.V.

"To continue the series of economic growth forecasts, this week’s article delves into the French economic forecast for 2024 and informs on recent updates for the financial strategies of France.

Preliminary data released by the INSEE statistics agency in January 2024 revealed that the French economy did not experience growth in the fourth quarter, aligning with what analysts had anticipated. According to INSEE's quarterly GDP report, the euro zone's second-largest economy remained stagnant at 0.0% during the last three months of the previous year, following a period of no growth in the third quarter.

The GDP is estimated to have expanded by 0.9% in 2023, primarily fueled by robust growth in the second quarter, a figure slightly below the Autumn 2023 Forecast. Despite government support measures and a favorable labor market with dynamic wage growth sustaining households' purchasing power, high inflation, and tighter financial conditions dampened growth throughout the year. Although net exports contributed positively, this was mainly due to reduced imports rather than robust domestic demand.



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