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FRANCE: Exports and consumers sustain the economic upturn

In the 2nd quarter, the GDP grew by 0.5% thanks above all to the increase of exports (+3.1% q/q). The development of the still negative trade balance should subtract just 0.3% to the growth this year. The year 2017 should also record the highest GDP growth since 2011 (+1,6 %), as a result of the normalisation of the cereal harvest compared to 2016, of a clear improvement of tourism, and of the recovery of the construction sector. Since December 2016, the general business climate has been exceeding the long-term average (100) while that of the industry recorded the clearest improvement since 2011. In the 1st quarter, businesses’ investments increased by 1.9 % q/q thanks to the expenses in products and services, also stimulated by the end of the “amortisation plus” measure on productive investments, expected to take place in April.
The unemployment rate (9.6%) reached its bottom since 2012 et the employment growth rate should be moderate, with 220,000 new jobs foreseen in 2017. Inversely, the industry sector will probably suffer from further jobs’ losses. The workers will globally benefit of an increase of 1.6% of the gross wage level in 2017. The growth of the households’ income sustains above all their consumption and their estate investments (forecast ’17: +3,7%). The consumers’ confidence improved, reaching its historical maximum. The local demand, especially
private consumption (forecast ’17: +1.2%), should provide the highest economic impulse even if less dynamic compared to last year (+2,1%), because of a decrease of the households’ purchasing power also due to the prices’ increase (May ’17: 0.8%).

September 2017

ECSA Chemicals AG
Burgauerstrasse 17
CH-9230 Flawil (Switzerland)
T: +41 71 394 02 30
F: +41 71 394 02 31

Via Luigi Favre 16
CH-6828 Balerna (Switzerland) 
T: +41 91 695 88 00
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ECSA Maintenance AG
Burgauerstrasse 17 
CH-9230 Flawil (Switzerland)
T: +41 71 394 02 30 
F: +41 71 394 02 31

Via Luigi Favre 16 
CH-6828 Balerna (Switzerland) 
T: +41 91 695 88 00
F: +41 91 695 88 02

ECSA Energy SA
Via Luigi Favre 16 
CH-6828 Balerna (Switzerland)
T: +41 91 695 88 00
F: +41 91 695 88 05

ECSA ITALIA Srl Società
con Unico Socio
Via Lavoratori Autobianchi 1 
I-20832 Desio (MB)
T: +39 0362 625 421
F: +39 0362 304 361
P.IVA IT00222470130

Porta Ticino Easy Stop SA
Via San Giorgio 37
CH-6877 Coldrerio
T: +41 91 640 35 50 
F: +41 91 640 35 51

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