France’s economy was handed a boost from the Paris Olympics as gross domestic product rose 0.4% in the third quarter. GDP rose 0.2% in each of the first two quarters of 2024 before accelerating in the third, and in July and August in particular.
“A large part of this increase (around half) is linked to the consumption of recreational services in connection with the Paris Olympics and Paralympic Games,” statistics agency INSEE said.
However, the boost may only be temporary. Societe Generale economist Fabien Bossy said the Olympics flattered third-quarter growth and that the economy will likely slow sharply ahead. SocGen’s estimates see underlying growth turning negative in the final quarter of the year.
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Publish date : 2024-10-30 04:20:00
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