France slipped into contraction as MPs rewrite its 2027 budget

Government & Public FinanceBanking & FinanceEurope

What changed

INSEE said on 30 October that GDP fell 0.1% in the third quarter, with exports down 1.7%. October consumer prices rose 3.4% on a year earlier.
Fitch kept France at A+ on 30 October but moved its outlook to negative. It sees debt at about 124% of GDP by 2028.
MPs have deleted, for now, a corporate surtax worth about €5bn in 2027. French 10-year yields rose above 5% in late October, the highest since 2002.

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