French economy pocket atlas – November 2024

BNP Paribas Team BNP Paribas

This section provides a monthly overview of the main economic data for France and a comparison with other European countries. In addition to the comparative table, which presents the key economic data for each economy studied (France, Eurozone, Germany, Italy, Spain, the Netherlands, Belgium and the United Kingdom), other summary tables of indicators enrich the comparison (in the pdf version available).

Population, employment and the labour market data: number of inhabitants, unemployment rate, participation rate,monthly minimum wage, effective working hours, etc. Data are provided by the European Commission (AMECO), Eurostat, Insee (France), the OECD and the ONS (United Kingdom).

Activity data by economic sectors: market and non-market services, industry (energy and manufacturing sectors excluding construction), private consumption, business investment (gross fixed capital formation in the private sector excluding housing), exports of goods and services. Data are from the national accounts (baseline year: 2015). They are provided by the European Commission (AMECO), Eurostat, Insee (France)and the OECD.

General government data: fiscal balance, total spending, debt service, public debt (Maastricht definition). These data are provided by the European Commission, Eurostat and Insee.

External accounts data. These are provided by the European Commission, Eurostat and Central banks.

Data on inflation (harmonised consumer prices from Eurostat), credit (consumers and companies) and interest rates. These data are provided by the European Commission, Eurostat and Central Banks.

Data on the accounts of non-financial companies are provided by Eurostat: wages, gross wages, social security contributions, gross operating income, gross disposable income, investment, self-financing ratio.

Household accounts data: GDP per capita, harmonised unemployment rate, consumer spending, credit, gross savings, disposable income, private consumption deflator. These data are from Eurostat and ONS.

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BNP Paribas Team

BNP Paribas

BNP Paribas Economic Research Department is a worldwide function, part of Corporate and Investment Banking, at the service of both the Bank and its customers.

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

Ethereum Price Forecast: BitMine extends ETH buying streak, says long-term outlook remains positive

Ethereum (ETH) treasury firm BitMine Immersion continued its weekly purchase of the top altcoin last week after acquiring 45,759 ETH.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.