Economics
Bank of France Cuts Outlook, Sees Smaller Macron Stimulus Boost
- GDP predictions for both 2019 and 2020 lowered slightly
- Consumer spending rising less than expected: Bank of France
A sign for the Banque de France sits above the bank's entrance in Paris, France.
Photographer: Balint Porneczi/Bloomberg
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France’s economic outlook is deteriorating as a bleak global environment weighs on activity and President Emmanuel Macron’s stimulus delivers a smaller-than-expected boost, the country’s central bank said Tuesday.
The Bank of France said growth this year and next will be slightly weaker than anticipated three months ago, as will inflation. The economic downgrade partly reflects a smaller boost to consumer spending from Macron’s tax cuts.