BAROMETER. In November, road transport in France experienced a period of fragile stabilisation, marked by rising costs and sluggish demand for the season.
France recorded GDP growth of +0.5% in the third quarter of 2025, exceeding expectations (+0.3% initially forecast). This performance suggests annual growth exceeding the government's forecast of 0.7% for 2025. Economic activity remained strong, especially in services, and a rebound in construction was even observed. Inflation remained stable at 0.9% in November. The slowdown in service prices (+2.2% after +2.4%) and, to a lesser extent, in manufactured goods prices, is somewhat offset by a smaller decline in energy prices and a slight increase in food prices.
Misleading growth
One should be careful though as this French growth is misleading, because during the summer, the French economy mainly benefited from a rebound in the aeronautics sector, which had been penalised since Covid by supply problems: Airbus increased its delivery pace in September, a production increase perceived as "a lasting phenomenon that could be transformed, in a full year, into 0.3 or 0.4 points of growth".
The business climate continued its improvement that began last month. It rose another point and is approaching 100, the long-term average. It is driven mainly by the services sector which gained 3 points, while industry, on the contrary, fell by 3...
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