Summer Weather to Trim French Growth
France reports that summer heatwaves and drought could reduce economic growth by 0.1 percentage points this year due to agricultural losses. Farmers warn production losses will surpass ten billion euros as officials prepare aid.
Summer heatwaves and drought will shave 0.1 percentage points off France economic growth this year, the Finance Ministry said on Wednesday afternoon. The projected drag stems from agricultural losses, testing government forecasts as broader momentum slows. The downgrade follows flat second-quarter data, putting the official 0.7% full-year target out of reach.
