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France Growth Trimmed
World Economy

France Growth Trimmed

The attacks in Paris last month will weigh on French economic growth only briefly in the fourth quarter before France resumes more stable growth in 2016, the official statistics agency, INSEE, forecast on Thursday, Reuters reported. The eurozone’s second-biggest economy will grow only 0.2% in the fourth quarter from the third, INSEE estimated, trimming its forecast from 0.4%. The impact from the Islamic State attacks on Nov. 13 was projected to reduce fourth-quarter growth by 0.1 percentage points from fourth-quarter growth. Other factors, such as low energy production amid unseasonably warm weather, explained the rest of the revision, INSEE said. Despite the weaker outlook for the fourth quarter, INSEE kept its full-year 2015 growth forecast at 1.1%, the best showing since 2011 and in line with the government’s forecast for growth of at least 1%. “That’s the scenario that seems the most probable to us,” INSEE’s head of economic forecasting Vladimir Passeron told journalists. “Household spending and growth pulled back at the end of the year, but should hold up.”

 

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