France has experienced two intense heatwaves over the last three months, according to Météo France: the first from 19 June to 4 July, and the second from 8 to 18 August. While such periods are theoretically likely to have negative effects on short-term activity, the first of these two waves does not appear to have hampered growth in Q2, either in France or elsewhere in Europe. The available data suggests that the same will be true for Q3. In fact, unlike in 2003, agricultural production is expected to bounce back in 2025, particularly for arable crops, after a particularly poor year in 2024. Furthermore, the two heatwaves led to an increase in electricity consumption, but only the June episode had an impact on national electricity production. Finally, with regard to household consumption, these episodes mainly resulted in increased purchases of certain refreshing products, such as drinks and ice cream, mainly during the heatwave at the end of June and beginning of July...