The French economy is under threat of a major recession

2024-07-25 16:54:21

This is an ominous sign for the French economy. The behavior of business leaders is declining. Business climate in July fell by 5 points according to published INSEE data say Thursday morning. Already below its long-term average, at 99 in June, it fell to 94, the lowest level since February 2021, when the Covid-19 crisis was in full swing.

The Institute of Statistics survey was conducted between June 27 and July 21, that is after the surprise announcement of the dissolution of the National Assembly. Depending on the activity sector, between two thirds and three quarters of the responses were received before the second round of legislative elections, on July 7.