Final data published yesterday by the French statistics office showed that the economy contracted slightly in the first quarter, differing from the preliminary reading, which had indicated neither growth nor contraction in the eurozone's second-largest economy.
The statistics office reported an economic activity change rate of -0.1%, below the average forecast of 0.0% in a Reuters poll of 19 economists.
The statistics office said exports fell 3.5% after rising 0.9% in the previous quarter, affected by a decline in aviation-related exports.
Household consumption, the traditional driver of growth in France, fell 0.2% after rising 0.3% in the fourth quarter of 2025, affected by a decline in energy consumption.
Growth in France, as in most of Europe, has been hit by a series of external shocks over the past year, including the tariff dispute with the United States, which weighed on exports, while the American-Israeli war on Iran drove up oil prices and dampened tourism.
France's unemployment rate rose to 8.1% in the first quarter of 2026, its highest level since 2021, during the Covid-19 pandemic.