RTTNews - France's economy is set to stabilize in the fourth quarter after contracting 0.6% in the second quarter and 0.2% in the third quarter of the year, the country's statistical office INSEE said Friday. For the whole of the year, INSEE expects the economy to shrink 3%.
The statistical office expects the drop in manufacturing activity to gradually slow down and stabilize in the fourth quarter. Moreover, it expects the pace of decline in investments, exports, and imports to continue to slow into the fourth quarter. However, the jobless rate is expected to worsen, touching 10.1% in the Metropolitan France in the last three months of the year.
Consumer prices are forecast to rise 0.6% in the last quarter, after declining in the second and third quarter. The core inflation is expected to ease slightly in fourth quarter. Household purchasing power is expected to be negative in the fourth quarter after going flat in the third quarter.
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