French GDP stagnated in the first quarter, with zero growth at 0%, according to INSEE

This estimate is well below expectations: INSEE had in fact forecast growth of 0.3%.

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French economic activity stagnated in the first quarter of 2022. According to an initial estimate published on Friday April 29 by INSEE, growth was zero (0%) over the first three months of the year. This estimate is well below expectations: the National Institute of Statistics had indeed forecast growth of 0.3%, while the Banque de France was counting on a small increase in gross domestic product (GDP) of 0.25%. The reason for this bad number: a decline in household consumption against a backdrop of inflation and the war in Ukraine.

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