French Q2 GDP Growth Revised Higher
France's quarterly economic growth was revised higher to 0.3 percent in the second quarter of 2019 from a preliminary estimate of 0.2 percent, as net foreign demand contributed positively to the expansion while first estimates had pointed to a neutral contribution. Fixed investment grew solidly while household consumption rose at a slower pace.
8/29/2019 8:54:07 AM
Final domestic demand excluding inventory changes contributed 0.4 points to GDP growth (vs 0.3 points in Q1) and foreign trade balance contributed 0.1 points (vs -0.3 points in Q1). Conversely, changes in inventories contributed negatively to the expansion (-0.2 points vs 0.3 points in Q1).
Within domestic demand, fixed investment growth picked up to 0.9 percent in the second quarter from 0.5 percent in the previous period, mainly boosted by corporate investment and a rebound in information-communication and business services. Also, government spending increased 0.4 percent after being unchanged in the previous period. Household consumption, however, rose at a softer 0.2 percent, compared to 0.3 percent in the first quarter.
Exports were flat (vs 0.1 percent in Q1), while imports dropped 0.2 percent (vs 1.1 percent in Q1).
Year-on-year, the economy expanded 1.4 percent in the second quarter, little-changed from a 1.3 percent growth in the previous three-month period.