France is Europe's new economic growth engine

An employee performs a final inspection of Peugeot 3008 on the production line at the PSA Automobiles SA plant in Sochaux, France. Foto: Bloomberg photo by Stefan Wermuth

After years of measuring unfavorably against Europe's economic powerhouse Germany, France may finally have something to crow about.

The euro area's second-largest economy is outpacing its neighbor and the region as a whole -- excelling in weathering blows from trade wars and weaker global momentum. Some of the divergence is due to fortuitously timed tax cuts and less reliance on exports, but it also reflects early dividends from President Emmanuel Macron's reforms that aim to sow the seeds of longer-term growth...

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