Activity awaiting renewed confidence Economic Outlook - December 2024
Economic activity
In Q3 2024, activity gathered pace (+0.4% after +0.2%), buoyed by a one-off stimulus of approximately 0.2 GDP points provided by the Paris Olympic and Paralympic Games. In accordance with the French national accounting system, ticket sales and audiovisual broadcasting revenues were recorded as the production of services at the time of the events: these two accounting effects boosted growth by 0.3 points. However, the impact on activity was lessened by the crowding-out effect on regular tourists: household consumption of accommodation and food services slipped back nationwide this summer (-0.2% on the previous quarter), as did the consumption of transport services (-0.4%). Although the consumption of recreational services nationwide increased by 7.1%, it actually declined if ticket sales for the Olympic Games are disregarded. Crowding-out effects therefore reduced the impact of the Paris Olympic and Paralympic Games on French growth by around 0.1 points...
Conjoncture in France
Paru le :20/12/2024