France GDP Growth Confirmed at 0.2% QoQ in Q3

France GDP advanced 0.2 percent quarter-on-quarter in the September quarter of 2016, compared to a 0.1 percent contraction in the three months to June and matching a preliminary figure, second estimate showed. While investment and government spending rose, household consumption stagnated and net external demand contributed negatively to the growth.

In the third quarter, household consumption stalled for the second straight quarter. Government expenditure rose 0.3 percent, compared to 0.4 percent rise in the preceding quarter. Total gross fixed capital formation grew by 0.2 percent, following a stagnation in the June quarter. Final domestic demand (excluding changes in inventories) was virtually stable, contributing 0.1 points to GDP growth.

Exports increased by 0.5 percent, rebounding from a 0.1 percent decline in the second quarter. Imports also went up 2.5 percent, following a 1.7 percent contraction in the preceding quarter. The foreign trade balance contributed negatively to the economy (-0.6 points after +0.5 points in the second quarter).  In contrast, changes in inventories contributed positively: +0.7 points after -0.7 points in the June quarter.

Year-on-year, the GDP grew 1.1 percent, slower than a 1.3 percent expansion in the second quarter and in line with a preliminary estimate.

France GDP Growth Confirmed at 0.2% QoQ in Q3

Insee l Rida Husna |
11/29/2016 8:28:51 AM