GDP growth is stronger than thought

BNP Paribas Team BNP Paribas

Statistical agencies often revise growth figures a posteriori, and generally upwards. But this takes time, as their data often become more comprehensive and accurate after two years. France is seeing the largest upward revisions over this timeframe, and, generally, these revisions are more pronounced in Europe than in the United States.

Our study focuses on 2023 and 2024, two years for which statistical agencies have more information (growth figures have already, in most cases, been revised), and the figures are compared to pre-COVID levels (an average of 2017–2019). The COVID-19 period, which was inherently disruptive, is excluded from the study.

Growth figures are usually revised upward: more in Europe than in the US, particularly in France

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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.

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