French Central Bank trims 2024 GDP forecasts to 0.8%

The French central bank revised its economic growth forecast for 2024 to 0.8% from its estimate of 0.9% in December 2023 on weaker consumer spending and investment, according to the central bank in its quarterly outlook, Report informs via TradingView.

Last month, the government lowered its 2024 growth forecast to 1% from 1.4% previously and announced EUR 10 billion in emergency budget cuts to keep its deficit reduction plans on target.

For 2025, the central bank revised its economic growth forecasts to 1.5%, up from 1.3% in December, with interest rate cuts boosting activity.