The ongoing political instability in France could lead to an economic downturn, according to Carrefour SA’s Chief Executive Officer Alexandre Bompard. He highlighted that rising uncertainty is affecting consumer confidence, which has been a key driver of recent economic growth. Speaking during a panel at the annual conference of Medef, France’s leading business federation, Bompard explained that unpredictable conditions make individuals more likely to postpone spending. “The higher the level of uncertainty — which we are clearly experiencing now, especially with new developments emerging in recent days — the greater the chance of a significant economic consequence, such as delaying personal consumption,” he stated. “We have effectively reintroduced the possibility of a recession.”
— news from Bloomberg.com
— News Original —
French Turmoil Creates Recession Risk, Carrefour CEO Says
France’s political turmoil risks pushing the country into recession because it’s increasing uncertainty among consumers who had been driving growth, Carrefour SA Chief Executive Officer Alexandre Bompard said. n n“The more uncertainty there is — as is the case today, with the new uncertainty created over the last few days being an obvious illustration — the greater the risk of a strong economic impact, that I decide to delay my consumption decision,” Bompard said on a panel at the Medef business lobby’s annual conference. “We have recreated a risk of recession.”