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France GDP expands in Q3

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Staff Writer | October 31, 2017
French manufacturing
Europe   Gross domestic product grew 0.5% sequentially

France's economy expanded as expected in the third quarter, first estimate from the statistical office Insee revealed.

Gross domestic product grew 0.5% sequentially, in line with expectations, but slightly slower than the revised 0.6% expansion posted in the second quarter.

The expenditure-side breakdown of GDP showed that growth in household consumption expenditure accelerated to 0.5% from 0.3%, while total gross fixed capital formation climbed 0.8% after rising 1%.

The foreign trade balance contributed negatively to GDP growth, by 0.6 points in the third quarter as imports growth improved sharply to 2.5% from 0.2%, while exports growth decelerated to 0.7% from 2.3%.

Conversely, changes in inventories contributed positively to GDP growth, by +0.5 points.

Compared to the third quarter of 2016, GDP rose 2.2%, such a growth rate had not been observed since 2011, Insee said.


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