Last year, GDP, driven by the momentum of 2021, grew in France by 2.6%.
Where is the French economy headed? The first estimate of the annual progression of the hexagonal gross domestic product (GDP) 2022, published this Tuesday by INSEE, does not give many keys to answer this question. At 2.6%, growth appears surprisingly solid at first glance, in the context of the war in Ukraine and the revival of inflation. But it was largely the good performance at the end of 2021 that, through a spring effect, enabled activity to progress in this way.
If we look closely at the evolution of large aggregates throughout 2022, it is above all weaknesses that stand out. First, household consumption fell sharply in the 4e quarter. Over three months, it fell by 0.9%. “In particular, food consumption fell for the fourth consecutive quarter (-2.8% after -1.2%)”, details INSEE. Energy consumption drops by more than 5%, “In connection with a very mild autumn, but no doubt also because of the efforts of sobriety…
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