Growth: France will lose 0.1 Point in the Fourth Quarter because of Yellow Vests

France will lose growth due to yellow vests protest

According to the Minister of the Economy and Finance, Bruno Le Maire, France should lose 0.1 point growth in the fourth quarter of 2018 because of the movement of yellow vests.

The troubles related to the demonstrations of “yellow vests” will lose 0.1 point of growth to France in the last quarter of this year, said Monday the Minister of Finance, Bruno Le Maire .

“I think the current events should make us lose 0.1 point of growth of our national wealth in the last quarter,” the minister said on RTL , refusing nevertheless to review for the moment downward growth for all of the year, 1.7% expected by the government.

“It’s not catching up”

“I will not do any revision at the moment, but we will probably have 0.1 percentage point less growth at the end of the year,” added the minister, who had already estimated at 0.1 percentage point negative impact on the growth of the SNCF strike at the beginning of the year.

“It’s not catching up,” admitted Le Mayor. ” It’s reality. That of traders, independents, who saw their Saturday stores damaged, vandalized, looted, “he said.

“It is also the reality of foreign investors watching us (…). I see the impact this has on the foreigner and that is not good for the attractiveness of our country”

For its part, shortly after the Minister’s statements, the Bank of France halved, at 0.2% against 0.4% previously, the French GDP growth rate that it forecasts for the fourth quarter, the impact of the movement of “yellow vests” being felt in “most sectors”.

Asked about the intervention in which Emmanuel Macron must address Monday to the French , Mr. Mayor said “convinced that the president will find the right words. What matters most today is finding words that soothe, “he said.

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