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Financial News: France's GDP Growth Slows More Than Estimated

France's GDP Growth Slows More Than Estimated

05/30/2018 - 02:56:00 (RTTNews)

(RTTNews) - France's economy expanded at a slower than initially estimated pace in the first quarter, second estimate from the statistical office Insee showed Wednesday.

Gross domestic product grew 0.2 percent sequentially in the first quarter, slower than the 0.7 percent expansion registered a quarter. The sequential growth rate was revised down from 0.3 percent.

On the expenditure-side, household consumption expenditures gained only 0.1 percent. Total gross fixed capital formation climbed 0.2 percent after rising 0.9 percent. Overall, final domestic demand excluding inventory changes slowed down and contributed 0.2 points to GDP growth.

Exports and imports decreased 0.3 percent each in the first quarter. All in all, foreign trade balance did not contribute to GDP growth in the first quarter.

Similarly, changes in inventories were stable and therefore did not contribute to GDP growth, Insee said.

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