BAROMETER. Road transport prices continued to fall in April, driven by the drop in oil prices. The decline in volumes is worrying in the longer term, as any reversal in energy prices would generate a cataclysm for carriers.
French economic activity grew by only 0.1% in the first quarter of 2025, according to INSEE estimates published on April 30. This very small increase comes in a context of budgetary restrictions and strong uncertainty for global trade. Of course, after the 0.1% contraction in the fourth quarter of 2024, one could call this figure a rebound, but that would be ignoring the fact that many components of GDP are showing negative trends.
A very weak economy
In the domestic market, household consumption has stagnated, despite the fall in inflation which is restoring purchasing power. Public spending, which had supported growth in 2024, slowed sharply (0.1%), business investment continued to decline and the construction sector plunged.
On the international scene, Donald Trump continued and even accentuated his pressure on the global economy, blowing hot and cold with China, Europe and the rest of the world, particularly in the automotive sector or that of steel and aluminium. The negative impact of the trade war still lies ahead of us.
It is therefore not surprising that the business climate in France measured by INSEE remained "gloomy" in April. At 96.4, it is...
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