French Q1 GDP Growth Confirmed at 0.2%

The French economy advanced 0.2 percent on quarter in the three months to March of 2018, unrevised from the second estimate and after a 0.7 percent growth in the previous period, final figure showed. It is the weakest pace of expansion since the September quarter 2016.

In the first quarter, positive contribution to GDP growth came from final domestic demand (0.2 percentage points). Meanwhile, net foreign trade had a negative contribution of 0.1 percentage points and changes in inventories gave no contribution to growth.

Within domestic demand, gross fixed capital formation rose by 0.2 percent, much slower than a 0.9 percent rise in the previous quarter, mainly due to a sharp slowdown in corporate investment (0.1 percent from 1.2 percent in the December quarter). In addition, household spending increased by 0.1 percent, following a 0.2 percent gain in the preceding period. Meantime, government expenditure went up 0.3 percent, the same as in the prior quarter.

Exports declined by 0.3 percent, reversing from a 2.4 percent growth in the prior quarter. Meantime, imports fell 0.1 percent, after a 0.3 percent rise in the previous period.

Year-on-year, the economy expanded by 2.2 percent in the first quarter, matching the second estimates  and following a 2.8 percent growth in the previous quarter.

French Q1 GDP Growth Confirmed at 0.2%

Insee l Rida |
6/22/2018 7:16:15 AM