Cooling Economic Outlook - December 2022


Conjoncture in France- December 2022

Focus - Supply chain difficulties in service stations have been accompanied by fuel storage behaviour by households

The month of October was troubled by strikes in French refineries, resulting in a drop in production with service stations running out of fuel. The proportion of service stations out of stock of at least one fuel reached its maximum on Monday 10 October, with 35% of petrol service stations affected. In this context, analysis of CB bank card transactions indicates storage behaviour on the part of households: purchases of fuel certainly increased significantly during the first half of October, when shortages were at their height, then subsequently fell dramatically as a backlash. This storage behaviour could be seen not only in those regions that were most affected by shortages but also in those that were least affected. All in all, fuel purchases, as measured by CB bank card transactions, would appear to have increased overall in October, compared to September...

Conjoncture in France

Paru le :12/01/2023