FRANCE

摘要

Following weak Q4 2012 and Q1 2013 outturns in GDP (0.2% q-o-q declines were recorded in both quarters), latest data suggest that the pace of decline in some sectors appears to be slowing. Goods consumption fell by 0.8% (m-o-m) in June, completely reversing the previous month's 0.7% gain, although this was almost entirely due to a 4.3% plunge in energy consumption. The data also belie the fact that spending helped to lift GDP out of recession in Q2 (released afteroursurvey deadline) by+0.5% (q-o-q). However, investment subtracted from growth.