Facade of the headquarters of the Banque de France in Paris
PARIS (Archyde.com) – The French economy likely recorded slight growth in the fourth quarter as activity picked up after October strikes at refineries and the restart of several nuclear reactors, the Banque de France said on Wednesday.
The gross domestic product (GDP) of France, the second largest economy in the euro zone, probably grew by 0.1% in the last three months of 2022 compared to the previous quarter, estimates the Banque de France.
The National Institute of Statistics (Insee) is due to publish its economic note for the first quarter of 2023 on January 31.
According to the Banque de France, activity resumed in November and December, after the strikes organized in October in the refineries affected the supply of fuel, weighing on industrial activity, shops and restaurants.
The French economy had also suffered in October from the record number of nuclear reactors shut down for maintenance operations.
Tensions in supply chains eased last quarter, the Banque de France said, with only 41% of companies calling them a problem in December.
Recruitment difficulties persist, however, with 53% of companies believing they are having problems in this area, compared to 54% in November.
(Report Leigh Thomas; French version Camille Raynaud, edited by Bertrand Boucey)