France’s Economy Expands For Fourth Consecutive Quarter

France’s economy expanded for a fourth straight quarter, ending years of stop-start progress and giving President Emmanuel Macron momentum as he tries to push through crucial reforms.

The 0.5 percent expansion in the three months through June matched the pace of the previous two quarters and was driven by exports and investment. Net trade made the biggest contribution in more than seven years.

With political clouds having cleared thanks to Macron’s election win and tax cuts implemented by predecessor Francois Hollande taking hold, consumer confidence is near the highest in a decade, while business confidence is at the strongest level since 2011. Yet, economists warn that the long-delayed rebound won’t last unless the new 39-year-old president manages to successfully implement his economic reform program.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam