In Q4 2025, activity slowed in France (+0.2% after +0.5%). Domestic demand bolstered growth by +0.3 percentage points (after +0.4 percentage points), driven by a sharp acceleration in household consumption (+0.4% after +0.1% in Q3), while general government consumption slowed (+0.2% after +0.6%), as did investment (+0.3% after +0.8%). Corporate investment came to a standstill (-0.1%) following a remarkable performance in Q3 (+1.1%), but household investment picked up (+1.0% after +0.5%), driven by buoyancy in transactions for existing homes. Despite the slowdown in exports (+1.0% after +3.1%), foreign trade once again made a significant contribution to growth (+0.7 percentage points after +0.5 percentage points), as imports fell sharply (-1.1% after +1.4%). Meanwhile, businesses once again drew down from their inventories (the contribution of changes in inventories to growth was -0.8 percentage points, after -0.4 percentage points)...