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Financial News: France's GDP Expands As Expected In Q3

France's GDP Expands As Expected In Q3

10/31/2017 - 02:55:00 (RTTNews)

(RTTNews) - France's economy expanded as expected in the third quarter, first estimate from the statistical office Insee revealed Tuesday.

Gross domestic product grew 0.5 percent sequentially, in line with expectations, but slightly slower than the revised 0.6 percent expansion posted in the second quarter.

The expenditure-side breakdown of GDP showed that growth in household consumption expenditure accelerated to 0.5 percent from 0.3 percent, while total gross fixed capital formation climbed 0.8 percent after rising 1 percent.

The foreign trade balance contributed negatively to GDP growth, by 0.6 points in the third quarter as imports growth improved sharply to 2.5 percent from 0.2 percent, while exports growth decelerated to 0.7 percent from 2.3 percent.

Conversely, changes in inventories contributed positively to GDP growth, by +0.5 points.

Compared to the third quarter of 2016, GDP rose 2.2 percent, such a growth rate had not been observed since 2011, Insee said.

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