French Gross Domesic Product Revised Down to 0.1 Percent

GDP growth estimation in Q3 is revised by 0.1 percentage point from a previously estimated growth of 0.2%. This is due to the integration of data released since then. In particular, transport production is now valued with the integration of the road freight transport indicator. Besides, gross fixed capital formation and consumption in services are overall a little less dynamic with the integration of the turnover indices for September.

Household consumption expenditure recovered (+0.2% after –0.2%) while gross fixed capital formation (GFCF) decreased (–0.3% after +0.4%). Overall, total domestic demand (excluding inventory changes) contributed positively to GDP: 0.2 percentage point after 0.1 percentage point. Imports fell (–0.5% after +1.6%) and exports slightly accelerated (+0.6% after +0.3%). Hence, the foreign trade balance contributed positively to GDP growth: 0.3 percentage point (after –0.4 percentage point). This contribution is offset by changes in inventories contribution: –0.4 percentage point in Q3, after +0.2 point. Carried-over GDP growth for the whole year is also revised by 0.1 percentage point to +0.1%.

INSEE | Nuno Fontes |
12/28/2012 8:37:02 AM