France's gross domestic product shrank by 0.1 percent on quarter in the first three months of 2021, compared with an initial estimate of a 0.4 percent growth and following an upwardly revised 1.5 percent contraction in the previous period. Revised data points that the euro zone's second biggest economy entered a recession, mainly due to the inclusion of construction data, which was significantly less dynamic than the extrapolations used in the first estimate: the evolution of GFCF in construction in Q1 2021 thus fell to 0.6 percent from 5.1 percent. Considering 2020 as a whole, the GDP plunged 8 percent, less than earlier estimates of an 8.2 percent slump. Finance Minister Bruno Le Maire expects the economy to grow 5 percent in 2021 as stay-at-home order is now being slowly lifted. Still, latest data showed household consumption, the driving force of France's economic activity, fell 8.3 percent in the first month of Q2. source: INSEE, France

GDP Growth Rate in France averaged 0.75 percent from 1949 until 2021, reaching an all time high of 18.50 percent in the third quarter of 2020 and a record low of -13.20 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 2021.

GDP Growth Rate in France is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in France to stand at 0.80 in 12 months time. In the long-term, the France GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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France GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 -1.50 18.50 -13.20 1949 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-29 06:30 AM QoQ Prel Q4 -1.3% 18.5% -4% -3.2%
2021-02-26 07:45 AM QoQ Final Q4 -1.4% 18.7% -1.3% -1.3%
2021-04-30 05:30 AM QoQ Prel Q1 0.4% -1.4% 0.1% -0.3%
2021-05-28 06:45 AM QoQ Final Q1 -0.1% -1.5% 0.4% 0.4%
2021-07-30 05:30 AM QoQ Prel Q2 -0.1% -0.3%
2021-08-27 06:45 AM QoQ Final Q2 -0.1%
2021-10-29 06:30 AM QoQ Prel Q3 3.6%
2021-11-26 07:45 AM QoQ Final Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
French Economy Enters Recession
France's gross domestic product shrank by 0.1 percent on quarter in the first three months of 2021, compared with an initial estimate of a 0.4 percent growth and following an upwardly revised 1.5 percent contraction in the previous period. Revised data points that the euro zone's second biggest economy entered a recession, mainly due to the inclusion of construction data, which was significantly less dynamic than the extrapolations used in the first estimate: the evolution of GFCF in construction in Q1 2021 thus fell to 0.6 percent from 5.1 percent. Considering 2020 as a whole, the GDP plunged 8 percent, less than earlier estimates of an 8.2 percent slump. Finance Minister Bruno Le Maire expects the economy to grow 5 percent in 2021 as stay-at-home order is now being slowly lifted. Still, latest data showed household consumption, the driving force of France's economic activity, fell 8.3 percent in the first month of Q2.
2021-05-28
French Q1 GDP Rebounds More than Estimated
The French economy expanded 0.4 percent quarter-on-quarter in Q1 2021, easily beating market consensus of a 0.1 percent growth and rebounding from a 1.4 percent contraction in Q4, helped by President Emmanuel Macron's decision to put off the tougher curbs imposed in other European countries, preliminary data showed. There was an upturn in both household consumption (0.3 percent vs -5.7 percent in Q4) and government spending (0.5 percent vs -0.1 percent), while fixed investment growth accelerated (2.2 percent vs 1.3 percent). Meantime, inventory changes made no contribution to the growth (vs 0.4 points in Q4). At the same time, net foreign demand contributed negatively to the GDP as exports (-1.5 percent vs 6.1 percent) declined more than imports (-0.1 percent vs 1.7 percent). The economic rebound was limited, however, as the GDP is still 4.4 percent below its level of the December quarter of 2019.
2021-04-30
French Economy Contracts More than Initially Thought
France's gross domestic product shrank by 1.4 percent on quarter in October-December 2020, more than an initial estimate of a 1.3 percent contraction and compared with a 18.5 percent expansion in the previous three-month period, as a second national lockdown and curfews were enforced to combat the spread of the coronavirus pandemic. Household consumption slumped 5.4 percent (vs 18.1 percent in Q3) and public spending fell 0.3 percent (vs 14.6 percent), while fixed investment grew 1.1 percent (vs 24.1 percent in Q3). Also, both net foreign trade and inventory changes contributed positively to the GDP growth. Year-on-year, the economy contracted by 4.9 percent. Considering 2020 as a whole, the GDP plunged 8.2 percent after a 1.5 percent rise in 2019.
2021-02-26
French Q4 GDP Shrinks Less than Expected
The French GDP shrank 1.3 percent quarter-on-quarter in Q4 2020, compared with market consensus of a 4.0 percent fall and after a record growth of 18.5 percent in Q3, preliminary data showed. The contraction reflected a second COVID-19 lockdown and curfews, which took place from the end of October to mid-December. There were falls in both household consumption (-5.4 percent vs 18.2 percent in Q3) and government spending (-0.4 percent vs 14.6 percent), while fixed investment growth slowed sharply (2.4 percent vs 24.0 percent). Meantime, exports expanded by 4.8 percent, while imports rose at a softer 1.3 percent. For full 2020, the economy contracted 8.3 percent, better than an 11 percent plunge the government had forecast in its budget plans, and following a 1.5 percent expansion in 2019.
2021-01-29

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.