The French economy contracted unexpectedly in the first quarter due to the fall in exports and investment, while consumer price inflation accelerated to the highest level in more than two years in May driven by the increase in energy prices, official data showed Friday.
Gross domestic product shrank 0.1 percent in the first quarter from the preceding period, revised data from the statistical office INSEE revealed. This was in contrast to the initial estimate of nil growth and followed an expansion of 0.2 percent in the fourth quarter.
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Forex News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.