French GDP Growth Confirmed at 0.3% QoQ in Q3
The French economy advanced 0.3 percent in the third quarter of 2014, rebounding from a 0.1 percent contraction in the April to June quarter, as an increase in government and household spending offset a decline in net exports and capital investment.
Households’ consumption expenditure increased 0.3 percent after a 0.5 percent rise in the previous period. Government expenditure grew 0.6 percent after a 0.4 percent expansion in the second quarter. Total gross fixed capital formation went down again (-0.6 percent following a 0.8 percent contraction). Final domestic demand (excluding changes in inventories) improved and contributed 0.2 points to GDP growth (after 0.1 points in the preceding quarter).
Exports recovered (+0.5 percent after 0.0 percent) while imports accelerated (+1.3 percent after a 0.6 percent increase). Consequently, the foreign trade balance contributed negatively to GDP (-0.2 points, as in the previous quarter). Changes in inventories contributed positively to GDP growth (+0.3 points after - 0.1 points).
Year-on-year, the GDP grew 0.4 percent in the third quarter, following a stagnation in the previous period.
12/23/2014 11:28:24 AM