Activity awaiting renewed confidence Economic Outlook - December 2024
Household consumption and investment
In Q3 2024, household consumption recovered its momentum (+0.6% after 0.0%), driven mainly by the dynamism in services (+0.9% after +0.5%). Sales of tickets for the Paris Olympic and Paralympic Games were recorded in the national accounts in the summer and boosted consumption in recreational services (+7.1%). However, this major development masks the crowding-out effects on normal recreational activities: in fact, excluding revenue from Olympic and Paralympic Games ticket sales, consumption in these services declined. Crowding-out effects also concerned accommodation-catering and transport services: household consumption in accommodation-catering in France slipped back this summer (-0.2% compared to the previous quarter), as it did in transport services (-0.4%), probably a sign of a relative disaffection by regular tourists. Consumption of goods started to rise again slightly (+0.4% after -0.2%). Food consumption picked up timidly but is still six points below its 2019 average. Automobile purchases, particularly of new cars, fell back significantly, notably as a result of the entry into force of the new EU General Safety Regulation (GSR2) in July. Household spending on gas and electricity remained vigorous, meanwhile, with temperatures in September being cooler than the seasonal norms...
Conjoncture in France
Paru le :20/12/2024