Geographical areas

While the euro area as a whole recorded growth of almost 0.6% (0.3% excluding Ireland) in the first half of 2026, France contracted by more than 0.1%, with public expenditure being the sole driver of economic activity (growth of almost 0.7%), but this was unable to offset virtually stagnant private consumption and the decline in fixed capital investment (–1.0% ) against a backdrop of sluggish exports.

The Italian economy performed better than expected in the first half of the year, thanks to highly buoyant household spending and a surge in fixed capital investment, driven by continued strength in the construction sector and strong investment in capital goods.