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Story summary
- Home renovation spending plunged, dragging overall construction spending down 1.7% in France’s first quarter.
- INSEE reported zero GDP growth for France in Q1 2026, noting construction fell 1.7% and consumer spending declined.
- Dorian Roucher, INSEE’s head of forecasting, called the drop in home renovations an unpleasant surprise for the economy.
- Mathieu Plane of the French Economic Observatory said the recession risk is fairly high after the latest data.
