French Economy Back in Recession Again for Q4 2020
France is back in recession after the Q4 GDP report came negative again
Skerdian Meta•Friday, February 26, 2021•1 min read
The French and Italian economies have been the weakest in the Eurozone in the last few years, and they have suffered immensely during the coronavirus times. Restrictions were put in place in both countries in Q4, which sent the French economy diving back into recession in Q4 of last year and very likely in Q1 of this year as well.
French GDP for Q4 2020
- Q4 final GDP -1.4% vs -1.3% prelim
- GDP YoY -4.9% vs -5.0% prelim
Little change to the initial figures, and this mainly just reaffirms that the French economy is likely to face a double-dip recession, with Q1 conditions set to be more sluggish as well.
February CPI Inflation Report France
- February preliminary CPI YoY +0.4% vs +0.3% expected
- Prior CPI YoY +0.6%
- CPI MoM -0.1% vs -0.3% expected
- Prior CPI MoM +0.2%
- HICP YoY +0.7% vs +0.5% expected
- Prior HICP YoY +0.8%
- HICP MoM 0.0% vs -0.3% expected
- Prior HICP MoM +0.3%
French inflation beat estimates, but it is seen a little weaker compared to the January readings. That said, it is tough to extrapolate much from these numbers in H1 2021, although a higher reading in the coming months could keep the market jumpy.
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Skerdian Meta
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Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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