French Q1 GDP Growth Confirmed at 0.3%

The French economy grew 0.3 percent on quarter in the three months to March 2019, slowing from an upwardly revised 0.4 percent expansion in the previous period and matching a preliminary estimate and market expectations, final figures showed. Household consumption rose further while fixed investment eased and net foreign demand contributed negatively.
INSEE | Stefanie Moya | stefanie.moya@tradingeconomics.com 5/29/2019 9:45:45 AM
Within domestic demand, household consumption increased slightly (0.4 percent vs 0.3 percent in Q4), driven by expenditures on goods (0.6 percent vs -0.3 percent) and energy rose (0.7 percent vs -0.4 percent). On the other hand, consumption of food dropped sharply (-1.1 percent vs a flat reading) while expenditure on services was steady at 0.6 percent. In contrast, fixed investment advanced 0.5 percent, slowing from a 0.6 percent expansion in the previous quarter, as government expenditure went up 0.7 percent, after a 1 percent increase in the prior period; and non-financial corporations and unincorporated enterprises eased to 0.7 percent from 0.8 percent. Meantime, household investment was unchanged, following a 0.3 percent contraction in Q4. Additionally, general government expenditure rose 0.2 percent, lower than a 0.4 percent in the last quarter of 2018.

Exports edged up 0.4 percent (vs 2.0 percent in Q4), while imports grew at a faster 1.4 percent (vs 1.1 percent in Q4).

Year-on-year, the economy expanded 1.2 percent in the first quarter of 2019, the same pace as in the previous three-month period.

French Q1 GDP Growth Confirmed at 0.3%