The figures are however better than expected by INSEE, which was tapped on a GDP up 2.5 % and a contraction of 0.2 % in the fourth quarter.
MO12345LEMONDE with AFP
The growth of French economic activity reached 2.6 % in 2022, however marked by a slowdown in the fourth quarter due to a clear decline in household consumption in a context of high inflation, according to figures Broadcast, Tuesday, January 31, by the National Institute of Statistics and Economic Studies (INSEE).
In 2022, the gross domestic product (GDP) especially benefited from the rebound in activity recorded on the second part of 2021 “at the end of the health crisis”, then proving to be “much less dynamic”, according to INSEE. The figures are however better than expected, because it was tapped on a GDP up 2.5 % and a contraction of 0.2 % in the fourth quarter.
At the same time, household consumption expenses in goods fell 1.3 % in France in December, notably sealed by purchases of food products with 1.7 %, still according to the ‘INSEE. In a context of high prices (around 6 % over a year), “over the whole fourth quarter of 2022, household consumption in goods decreases by 1.9 %”, specifies the institute. The consumption of food goods decreases for its part by 2.8 %.