French economic activity remained buoyant in Q4 2017 (+0,6% after +0,5%), driven notably by strong private investment and high exports. Activity rose by 2% in 2017, at its highest since 2011.

In an international environment that remains favourable, the slight decline in the business climate – which remains at a high level – observed at the start of 2018 suggests that over the forecasting period (mid-2018), activity is likely to progress at a less sustained pace (+0,4% in Q1 and Q2).