Fx trading News: French household consumption becomes a pillar of economic growth!
2020-02-12 16:20 from：CAPSTONE author：Jack
Capstone forex trading news: Research by the French Economic Observation and Research Center shows that with the increase of French purchasing power, household consumption has become the pillar of economic growth, but this will also lead to import growth. In the global economic slowdown, imbalances in the foreign trade sector will put pressure on GDP.
At present, household consumption has become an important guarantee for the French economy to withstand external shocks. Although French consumption has slowed to some extent in 2019, it still occupies an important position. Director of the French Economic Observation and Research Centre Dennis Ferrand pointed out that the French savings rate has continued to increase in the past two years and will continue to maintain a high level in 2020, but the growth momentum has slowed.
The French Bureau of Statistics data shows that French household consumption is expected to be relatively stable, and there is a lot of room for growth in purchasing power, including the continuous increase in employment opportunities, wage growth and government budget policies to reduce income tax and residence tax and other related measures will inject momentum to improve purchasing power. According to data released by the French Bureau of Statistics, French purchasing power increased by 2.1% in 2019, the strongest growth since 2007.
According to economists at Credit Agricole Bank of France, this active consumption trend will promote a surge in imports and put pressure on the foreign trade sector. Only by fully reducing the proportion of imports in purchasing power and converting this into domestic consumption can we fully release purchasing power and increase dividends And continue to promote French economic growth.
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