Margaux Fodéré 9:08 a.m., August 25, 2022

Emmanuel Macron has sounded the death knell for "whatever the cost".

It is the "end", he says, of the "abundance" of "obviousness" and "recklessness".

The French economic outlook is rather obscure, confirms on Europe 1 the economist Marc Touati, while INSEE published Thursday a monthly indicator on the economic situation not really encouraging...

The rise in prices, which exceeded 6% in July, continues to weigh on consumption.

The first estimate of gross domestic product (GDP) in the second quarter, published in July by INSEE, was confirmed at the end of August.

But while growth in the second quarter was expected at 0.2% by the Banque de France and 0.25% by the National Institute of Statistics, it finally settled at 0.5% compared to the first. trimester.

How to interpret these numbers?

Decryption with the economist Marc Touati.

Companies forced to limit their activity

“French companies are faced with a dilemma”, he explains on Europe 1. “They sometimes have well-filled order books, but they do not have the workforce in front to respond to these orders. “So they are forced to limit their activity.

And now there is the economic recession.

The business climate will of course deteriorate.

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Unemployment will continue to rise

For the economist, France has so far been "saved by tourism".

But the industry is already slipping back into recession.

"So, unfortunately, the whole of the French economy will experience a drop in activity. And unemployment, which has already increased in the second quarter, will continue to rise," he laments.

Because more unemployment means less purchasing power, less consumption which is already affected by high inflation.

"It's a bit of a pernicious circle that is threatening us," concludes the economist.