French Q4 GDP Growth Beats Estimates
The French economy advanced 0.6 percent on quarter in the three months to December of 2017, after a downwardly revised 0.5 percent growth in the previous quarter and above market consensus of a 0.5 percent expansion, the preliminary estimate showed. It marked the sixth straight quarter of growth, mainly driven by fixed investment and exports while household consumption and government spending went up at slower paces. For full 2017, the economy expanded by 1.9 percent, the strongest growth rate since 2011.
1/30/2018 8:17:24 AM
In the fourth quarter, positive contribution to GDP came from final domestic demand (0.5 percentage points) and net foreign demand (0.6 percentage points). On the other hand, changes in inventories contributed negatively (−0.5 percentage points).
Gross fixed capital formation rose at a faster 1.1 percent, after a 0.9 percent rise in the September quarter. Meanwhile, household consumption increased by 0.3 percent, slower than a 0.6 percent gain in the second quarter. Government expenditure went up by 0.4 percent, compared to a 0.6 percent growth in Q3.
Exports grew by 2.6 percent, much stronger than a 1.1 percent increase in the preceding quarter; while imports rose by 0.7 percent, after a 2.4 percent growth in the previous period.
Year-on-year, the economy grew by 2.4 percent, following a 2.3 percent growth in the previous period. It was the fastest expansion since the first quarter of 2011.