France 2019-2020 Scenario
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The outlook for household consumption remains dependent on the timetable for the roll-out of fiscal and social security measures. In 2019, it looks set to pick up on a one-off basis (1.9% compared with 0.9% in 2018), in view of the roll-out of the measures announced in the aftermath of the Gilets Jaunes crisis. These measures add up to around 10 billion euros and are targeted at workers and retirees on modest and average incomes. They will drive a marked additional gain in purchasing power of 0.7% in 2019. In 2020, the rate of growth in household consumption is forecast to slow, largely due to moderation in the pace of job creation.
