France GDP growth revised to 0% for second quarter

France's national statistics bureau, Insee, has revised second-quarter 2026 GDP growth down to 0%, a reduction from the previously estimated 0.2%. The first quarter was also revised downward from -0.1% to -0.2%.

This economic stagnation is attributed largely to a significant decline in agricultural production caused by heatwaves and drought during the summer, alongside higher-than-expected service prices. Economy Minister Roland Lescure described the impact of the agricultural shock as “absolutely terrifying, enormous.”

In addition to stagnant growth, household purchasing power fell by 0.5% in the second quarter. This decline has led to a reduction in household savings rates, which dropped to 17.2% from 17.9% in the previous quarter. Meanwhile, inflation rose to 2.4% in August, driven by a 16.7% increase in energy component prices.