The French economy unexpectedly shrank by 0.2% on quarter in the first three months of 2022, compared to initial estimates of a flat reading. It marks the first contraction since the last quarter of 2020, mainly due to a 1.5% fall in household spending, namely transportation equipment (-2.3%) and accommodation and catering (-3.9%). In contrast, gross fixed capital formation rose 0.6%, driven in particular by investment in IT and information-communication services and in capital goods. Also, exports increased 1.2% and imports 0.5%, making net trade contribution slightly positive. source: INSEE, France

GDP Growth Rate in France averaged 0.76 percent from 1949 until 2022, reaching an all time high of 19.40 percent in the third quarter of 2020 and a record low of -13.70 percent in the second quarter of 2020. This page provides the latest reported value for - France GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

GDP Growth Rate in France is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France GDP Growth Rate is projected to trend around 0.40 percent in 2023, according to our econometric models.

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France GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-29 05:30 AM QoQ Prel Q1 0.0% 0.8% 0.3% 0.3%
2022-05-31 06:45 AM QoQ Final Q1 -0.2% 0.4% 0% 0.0%
2022-07-29 05:30 AM QoQ Prel Q2 -0.2% 0.2%


Related Last Previous Unit Reference
GDP Growth Rate -0.20 0.40 percent Mar 2022
GDP Annual Growth Rate 4.50 4.90 percent Mar 2022
GDP Constant Prices 584961.00 586191.00 EUR Million Mar 2022
Gross Fixed Capital Formation 141270.00 140397.00 EUR Million Mar 2022
Full Year GDP Growth 7.00 -8.00 percent Dec 2021
GDP From Utilities 11561.00 12145.00 EUR Million Mar 2022
GDP From Transport 22401.00 22231.00 EUR Million Mar 2022
GDP From Services 303512.00 304245.00 EUR Million Mar 2022
GDP From Manufacturing 55009.00 54224.00 EUR Million Mar 2022
GDP From Construction 28241.00 28191.00 EUR Million Mar 2022
GDP From Agriculture 7469.00 7500.00 EUR Million Mar 2022

France GDP Growth Rate
France is the seventh largest economy in the world and the second largest in the Euro Area. the biggest sector of the economy is household consumption (55 percent) followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). Exports of goods and services account for 29 percent of GDP while imports account for 31 percent, subtracting 2 percent from total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.40 19.40 -13.70 1949 - 2022 percent Quarterly
SA

News Stream
French Economy Unexpectedly Shrinks in Q1
The French economy unexpectedly shrank by 0.2% on quarter in the first three months of 2022, compared to initial estimates of a flat reading. It marks the first contraction since the last quarter of 2020, mainly due to a 1.5% fall in household spending, namely transportation equipment (-2.3%) and accommodation and catering (-3.9%). In contrast, gross fixed capital formation rose 0.6%, driven in particular by investment in IT and information-communication services and in capital goods. Also, exports increased 1.2% and imports 0.5%, making net trade contribution slightly positive.
2022-05-31
France Q1 GDP Unexpectedly Stagnates
France's economy unexpectedly showed no growth in Q1 of 2022, compared with market forecasts of a 0.3% expansion and after an upwardly revised 0.8% rise in Q4, flash data showed. Household consumption shrank amid surging energy cost and worsening supply chain due to the war in Ukraine (-1.3% vs 0.6% in Q4). Spending in hotel and restaurant services fell sharply and purchases of goods shrank, notably for clothing and textiles. Meantime, fixed investment slowed (0.2% vs 0.3%), mainly supported by information and communication as investment in both transport equipment and construction fell further. At the same time, net trade contributed only slightly to the economy (0.1 points). Year-on-year, the GDP advanced 5.3% in Q1, after an upwardly revised 5.5% in Q4. In 2021, the economy grew by 7.0%, the most in 52 years, following an 8.0% pandemic-induced slump.
2022-04-29
French Q4 GDP Growth Confirmed at 0.7%
France's quarterly economic growth was confirmed at 0.7% on quarter in the three months to December of 2021, slowing from a 3.1% advance in the previous period amid the impact of tighter measures to contain the Omicron variant. Still, France's economic output was 0.9% above its pre-crisis level. Both household consumption (0.5% vs 5.5% in Q3) and government spending (0.3% vs 2.6%) eased sharply; and net trade contributed negatively, as imports (3.9% vs 1%) rose faster than exports (3.1% vs 1.7%). Meanwhile, fixed investment growth picked up (0.6% vs 0.0%). Year-on-year, the GDP advanced 5.4%, in line with an earlier estimate, accelerating from 3.5% in the previous period, as the French economy showed much resilience in dealing with the omicron impact towards the end of last year. For full 2021, the economy grew by 7.0%, the most in 52 years, following an 8.0% pandemic-induced plunge.
2022-02-25