French Q3 GDP Growth Confirmed at 0.5%
The French economy advanced 0.5 percent quarter-on-quarter in the three months to September 2017, following a 0.6 percent expansion in the previous period and matching the preliminary estimate. Growth was mainly driven by household consumption while fixed investment rose at softer pace and foreign trade contributed negatively.
11/29/2017 10:20:31 AM
The positive contribution to GDP came from changes in inventories (0.5 percentage points), household final consumption expenditure (0.3 percentage points), fixed investment (0.2 percentage points) and government spending (0.1 percentage points); while net trade had a negative contribution of 0.6 percentage points.
Household consumption grew by 0.6 percent in the third quarter, faster than a 0.3 percent expansion in the previous period and gross fixed capital formation rose by 0.9 percent, following a 1.1 percent advance in Q2. Also, government spending increased by 0.5 percent, the same pace as in the preceding three months.
Imports jumped by 2.8 percent, accelerating from a 0.3 percent gain in the second quarter; while exports rose at a slower 1.1 percent, following a 2.2 percent increase.
Year-on-year, the economy grew 2.2 percent
year-on-year in the third quarter of 2017, unrevised from the preliminary estimate and following a 1.8 percent expansion in the previous period. It was the strongest pace of expansion since the second quarter of 2011.