Macro - Country Economic Forecasts - France
The invasion of Ukraine by Russia continues to dominate France's outlook. While the direct impact on the French economy will likely be limited given the modest weight of Russia and Ukraine on France’s exports and imports, the real pain will be felt in sharply higher energy prices. Overall, we continue to expect French GDP to expand by 3.0% in 2022, and by 2.0% expansion in 2023, albeit markedly lower than our pre-war expectations. We see inflation reaching 3.8% this year, its highest reading since the 1980s. However, we think consumer prices will ease markedly next year as energy prices likely fall and turn disinflationary, and post-lockdown upward pressure on services and durable goods prices begins to fade.
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook