France Business News

France Credit Rating Downgrade

June 2024
The credit rating agency S&P downgraded on May 31, 2024 France's credit rating from AA to AA-, with a stable outlook.
The first downgrade since 2013.
The downgrade of the second largest economy in the EU follows a 5.5% French budget deficit in 2023 and a forecast of a future above 3% budget deficit of the GDP in 2027.

France Credit Rating Downgrade

May 2023
Fitch credit rating agency downgraded on April 29, 2023 France 's credit rating from previous AA to AA- with a stable forecast.
The downgrade follows worries about a possible budget deficit and the planned pension reform.

France GDP Up 0.3%

November 2014
The French national statistics office announced on November 14, 2014 that the GDP in the third quarter of 2014 rose by 0.3% compared to the second quarter which rose by 0.1%.
The data for the third quarter is better than the forecast of a 0.1% rise.

France Unemployment Rise

January 2014
The French unemployment rate rose 0.5% in November 2013 compared to October 2013 reaching 3,293,000 unemployed people.
The recent data released in December is a blow to president Francois Hollande who pledged to stop the unemployment rise by the end of 2013.

France Credit Rating Downgrade

November 2013
The credit rating agency Standard & Poor's downgraded on November 8, 2013 France credit rating from the previous AA+ to AA with a stable outlook.
The downgrade follows worry about France's high unemployment rate and the weak economic growth.
The previous downgrade by S&P in the last two years was in January 2012 when France lost its previous top grade AAA rating.

France Credit Rating Downgrade

July 2013
Fitch credit rating agency downgraded on Friday July 12, 2013 France credit rating by one step from the previous perfect AAA rating down to AA+ while France's outlook remains stable.
The downgrade of France, the second biggest economy in the euro zone, reflects concern about France's weak economic output, a rise in the unemployment rate and budget deficit.
According to a poll by Reuters the French GDP remains unchanged in 2012 with expected 0.3% decline in 2013 and 0.6% rise only in 2014.
Fitch's downgrade follows similar downgrades by Standard & Poor's to AA+ and by Moody's to Aa1 with a negative outlook for the French economy by both.

France GDP Decline

February 2013
According to an early estimate by the national statistics office the French GDP declined in the 4th quarter of 2012 by 0.3% compare to a rise of 0.1% in the 3rd quarter. The analysts' forecast for the 4th quarter was a decline of 0.2%.
In the year 2012 the French GDP rise was zero.

France 1.1% Industry Growth

April 2012
The French national institute of statistics, Insee, announced that in January 2012 the turnover of the manufacturing industry increased by 1.1%.
The turnover in December 2011 declined by 2.2%.
Exports increased by 3.2% in January 2012 and decreased by 0.2% in December 2011.

France banned Stocks Short-Selling

August 2011
The French market regulator, AMF, banned on August 12 short-selling of certain shares from the banking and insurance sectors, including shares of BNP and Societe Generale.
The banning is for a period of 15 days.
In short-selling the seller borrows shares, sells them and buys back when their market price is lower.
Italy Spain and Belgium joined France in banning short-selling.

France 2011 Budget Unveiled

September 2010
The French government unveiled on September 29, 2010 the 2011 budget.
According to the proposed budget the public deficit will be reduced from the 2010 record 7.7% of the GDP to 6% of the GDP in 2011 down to 3% in 2013.
The budget includes resducing of tax breaks and allowances worth EUR 10 billions.

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