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Monday, June 14, 2021

France Q1 preliminary GDP +0.4% vs 0.0% q/q expected

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Latest data released by INSEE – 30 April 2021

  • Prior -1.4%
  • GDP +1.5% vs +1.0% y/y expected
  • Prior -4.9%; revised to -4.8%

A solid beat here reaffirms the resilience of the French economy in Q1, which may very well set the tone for what to expect from other readings across the region later today. If so, that will certainly be of much comfort to euro area assets in general – even if the market is more focused on vaccine developments and the 2H outlook now.
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