Housing, Industry, Economic Outlook: The Busy Agenda of Insee in France
There are three kinds of lies: lies, damned lies, and statistics. This phrase, often attributed to Benjamin Disraeli by Mark Twain, makes sense this week.
Indeed, Insee will publish the prices of old housing tomorrow. The following day, Wednesday, it will be the turn of industrial production to come under scrutiny, before the economic outlook on Thursday, which will update on growth and employment. Three figures, three days, and an institute that clearly does not allow anyone to catch their breath after the summer break. These publications primarily concern households negotiating a loan and factory managers filling their order books. However, in a country where the fear of an economic downturn is already prompting some savers to consider Bitcoin's role in the face of recession risks, these figures deserve a look that goes beyond the purely French context.
Key points of this article:
- Insee has published crucial figures on old housing prices and industrial production, revealing a recovering French economy.
- These data, while focused on France, have broader implications in a tense global economic context, potentially influencing central bank decisions.
On Tuesday, September 8 at 8:45 AM, the Notaires-Insee indices will deliver the prices of old housing for the second quarter of 2026. It is important to note that the French real estate market has been searching for its bottom for two years: high rates and buyers waiting for a better window. However, prices stubbornly refuse to rise.
The next day, Wednesday, September 9, at the same time, the industrial production index for July will be released. This is a sector in decline, as the last known index, from June, showed -1.1% month-on-month, against a backdrop of weak household consumption and dwindling export order books.
Thursday will be the moment of truth: the economic outlook that will indicate where France stands.
The highlight of the week falls on Thursday, September 10. A press conference at 9:30 AM, embargo lifted at 5 PM. Insee will present its economic outlook, a regular update of its short-term forecasts.
The accounts for the second quarter have already been published. On Thursday, the institute will update its reading for the rentrée, not the GDP. The latest known figures indicate zero growth in the second quarter and unemployment rising to 8.3% during the same period. There is no indication that Thursday will correct the trajectory. The institute has rather taken to revising its forecasts downwards rather than upwards in recent months.
However, these three publications will not be confined to the economics columns. The same figures that raise concerns about real estate and employment are those that lead some French people to choose between Livret A and Bitcoin to protect their savings. The following week will already continue with French inflation and construction prices, with Insee's August estimate in the spotlight. From Frankfurt to Washington, passing through Bercy Street, everyone will be scrutinizing the same curves in the coming days.
-- Price
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