Opec+ to meet to consider oil output cuts; French economy shrinks – business live

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French economy shrank 0.1% in Q3, worse than thoughtNewsflash: The French economy shrank unexpectedly in the last quarter, as the eurozone economy teeters on the brink of recession.

Updated GDP data just released shows that France’s economy contracted by 0.1% in July-September.

That’s worse than the first estimate of 0.1% growth for Q3, and follows growth of 0.6% in Q2.

The new data shows that French investment and consumer spending were weaker than initially expected.

, the statistics body, says:

The purchasing power of households gross disposable income (GDI) per consumption unit fell slightly (-0.2%) after remaining stable in the previous quarter. The household saving rate fell this quarter to 17.4% of GDI, after 17.9% in the previous quarter.

Trade also pulled GDP down, with exports falling by 1% while imports were stable.

French economy slips into contraction in Q3 by -0.1%, headline CPI slows to 3.4% in November

— Michael Hewson November 30, 2023 The wider eurozone economy also shrank by 0.1% in the last quarter, according to statistics body Eurostat .