In spring 2011, signs of a weakening of activity appeared in the advanced economies. As a general rule, prospects for activity should brighten in the advanced economies in the second half of the year. In France as in the advanced economies, the short-term outlook described in the business tendency surveys has been at a standstill recently and a slowdown in activity looks likely in Q2 (+0.2%). In H2 2011, growth should return to a rate of 0.5% per quarter, driven by the rise in investment and employment.