French first-quarter consumer recovery keeps domestic economy steady

French first-quarter consumer recovery keeps domestic economy steady

For the first three months of 2019, the French economy demonstrated a steady tempo of surge due to the fact that household spending revived following anti-government protests at the end of last year, as official data revealed on Tuesday.

In the January-March period, the euro zone's number two economy rallied by 0.3%, thus demonstrating the third winning consecutive quarter.

The preliminary GDP outcome turned out to be in line with the average expectation in a Reuters interview of 27 financial analysts and was a bit less than the 0.4% reported in the broader euro zone.

Some financial analysts were quite disappointed that consumer spending hadn’t bounced off more strongly considering government promises to trim taxes and spur pensions responding to the outrageous "yellow vest" street riots over the high cost of living.

In December, the French cabinet outlined a 10 billion euro package aimed at spurring the incomes of the poorest employees as well as pensioners.

The previous week, President Emmanuel Macron came up with a promise to have income tax cut by 5 billion euros, following five months of weekly protests.

Household spending, which appears to be the traditional motor of French economic surge, managed to ascend by 0.4% in the first quarter having stalled for the final three months of the previous year when spending was affected by some of the angriest street protests observed in decades.

INSEE informed that the improvement was observed in services, with spending in restaurants and hotels reviving after a dive in tourist numbers in December because of the riots.

Besides this, business investment rallied marginally, soaring by 0.5% after 0.4% in the fourth quarter.


Fears over no-deal Brexit pushed GBP down

All attention on the market is on the Brexit process. Fears over the no-deal Brexit pushed the British pound deep down yesterday after UK Prime Minister Boris Johnson claimed he was ready to abandon negotiations.

Vaccine hopes vs. Covid-19 resurgence

The market sentiment is mixed, and the US dollar is trading near the lowest levels for over two years. Let’s have a look at the main market movements today.

Latest news

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera