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France: GDP stalls in Q3
Fri, Nov 10 2006, 09:37 GMT
by Niels-Henrik Bjørn
Danske Bank A/S | View company's profile
Most activity indicators have been fairly favourable during Q3, also in France. However, GDP figures for Q3 published this morning revealed another story. Following an excellent first half 2006, French economy stagnated in Q3 posting GDP growth of 0.0%q/q.
The weak GDP figures from France are probably due to very strong inventory build up in Q2, which have been built off in Q3. Underlying domestic demand thus looks robust, in particular investments. However, one should also notice that the slowing of French housing market has probably impacted consumer demand negatively. At the same time we are likely to have seen some negative effects from the higher oil price in May, June upon demand.
Published on Fri, Nov 10 2006, 09:38 GMT
Danske Bank
| Holmens Kanal 2-12, DK-1092 Copenhagen
http://www.danskebank.com/ | danskeresearch@danskebank.com
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