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Economic Snapshot - Q4 2012

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The French economy avoided a technical recession in Q3 with 0.1% growth after a slight decline in Q2. Consumers gave a boost to growth by expanding their spending while investment was the only drag on growth. Recent indicators, such as falling car sales and a surge in joblessness suggest a contraction in Q4. France’s competitiveness problem and debt levels, as well as its exposure to the euro zone have been recognised by Moody’s, which downgraded the country’s sovereign debt rating in November, after a similar downgrade by S&P in January.

Source : Cushman & Wakefield

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