The Main Economic Indicators
The Ministry of Economy and Finance has published the main economic indicators for November 2024. These indicators provide a snapshot of the French economy and its recent performance.
Gross Domestic Product (GDP)
GDP is the total value of goods and services produced in France in a given period of time. In the third quarter of 2024, GDP grew by 0.3% compared to the previous quarter. This growth was driven by strong consumer spending and a recovery in investment.
Inflation
Inflation is the rate at which prices for goods and services are rising. In October 2024, the inflation rate was 1.2% year-on-year. This is a slight increase from the previous month, but it remains below the European Central Bank’s target of 2%.
Unemployment
The unemployment rate is the percentage of the labor force that is unemployed. In October 2024, the unemployment rate was 7.8%. This is a slight decrease from the previous month, but it remains above the pre-pandemic level of 7.1%.
Balance of Payments
The balance of payments is a record of all economic transactions between France and the rest of the world. In the third quarter of 2024, France had a trade deficit of €10.2 billion. This is an improvement from the previous quarter, but it still represents a significant drag on the economy.
Overall Assessment
The French economy is showing signs of improvement, but there are still some challenges that need to be addressed. The government is taking steps to support growth and reduce unemployment, but it will take time for these measures to have an impact.
Here are some additional details on the main economic indicators:
- GDP: GDP is calculated by adding up the value of all goods and services produced in France in a given period of time. It is a measure of the size and health of the economy.
- Inflation: Inflation is the rate at which prices for goods and services are rising. It is measured by the Consumer Price Index (CPI), which tracks the prices of a basket of goods and services purchased by consumers.
- Unemployment: The unemployment rate is the percentage of the labor force that is unemployed. It is a measure of the health of the labor market.
- Balance of Payments: The balance of payments is a record of all economic transactions between France and the rest of the world. It includes trade in goods and services, as well as financial transactions.
Les principaux indicateurs de conjoncture économique
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