Our nowcast highlights the strength of France's growth performance, with an estimate of 0.3% q/q for Q4 after a strong figure in Q3 (+0.5% q/q). In Q4, growth would once again be supported by industry, with another strong performance in aeronautics and an improvement in capital goods. GermanyWe estimate that German growth reached 0.3% quarter-on-quarter in Q4 (based on the annual figure published at 0.3% and the figures already published for the first three quarters). This growth marks an acceleration, following stagnation in Q3. The German economy is benefiting from a rebound in industrial production, driven by capital goods, linked to an increase in public spending.

Source: The North Africa Journal January 23, 2026 14:59 UTC