BAROMETER. Road transport prices rose again in June on the French market and have never been so high. However, in a climate of returning stagflation, road freight transport is suffering, as evidenced by weakened cash reserves and falling investments.
While France's public debt has reached a historically high level, exceeding €3,536 billion, or 117.5% of GDP, at the end of the first quarter of 2026 according to INSEE data, the Court of Auditors has consequently raised the alarm. It emphasises that "all signals are flashing red" and that the execution of the 2026 budget is shaping up to be complex, with increased uncertainties as the vote on the 2027 budget and the upcoming elections.
A growth forecast revised downwards
The Banque de France has also revised its growth forecasts downward. In its macroeconomic projections for June 2026, it mentions a GDP increase of 0.5% in 2026, revised down by 0.4 points compared to the March projections. Indeed, inflation fell in June thanks to the slowdown in energy prices, settling at +1.8% compared to +2.4% the previous month, but it remains very volatile, due to the exposure of the French economy to geopolitical shocks, and at this precise moment to the conflict in the Middle East. In early July, the situation deteriorated again, following a precarious ceasefire and a period of chaotic negotiations. The situation is therefore far from...
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