FOREX TradingCharts.com

Financial News: France GDP Falls Less Than Expected In Q4

France GDP Falls Less Than Expected In Q4

01/29/2021 - 02:10:00 (RTTNews)

(RTTNews) - The French economy contracted less-than-expected in the fourth quarter as the impact of the recent curfews and restrictions related to Covid-19 pandemic was less severe than the first lockdown put in place during the March to May period, preliminary data from the statistical office Insee showed on Friday.

Gross domestic product fell 1.3 percent sequentially, in contrast to an 18.5 percent rise in the third quarter. Economists had forecast a quarterly decline of 4 percent.

The expenditure-side breakdown of GDP showed that household spending dropped markedly by 5.4 percent and government consumption fell moderately by 0.4 percent.

Meanwhile, gross fixed capital formation advanced 2.4 percent. Exports climbed 4.8 percent and imports were up 1.3 percent.

Overall, the foreign trade made a positive contribution to GDP growth by 0.9 points, after +0.8 points in the third quarter. Finally, changes in inventories made a positive contribution of 0.4 points versus negative 1.7 points a quarter ago.

In the fourth quarter, GDP was 5.0 percent below its level a year earlier. In the whole year of 2020, GDP fell sharply by 8.3 percent after rising 1.5 percent in 2019. The International Monetary Fund forecast the French economy to grow 5.5 percent in 2021 and 4.1 percent in 2022.

Another report from the statistical office Insee showed that household spending rebounded sharply in December on higher consumption of manufactured goods.

Household spending surged 23 percent in December from November, when consumption was down 18 percent due to the second lockdown.

Thus spending exceeded the December level by 3.7 percent. Manufactured goods consumption climbed 9.8 percent and food consumption rose 0.7 percent. Meanwhile, energy expenditure slid 5.1 percent.

In the fourth quarter, household consumption on goods decreased 3.1 percent, in contrast to a drop of 4.2 percent in the third quarter.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


UK Car Production Declines Sharply In January: SMMT (49 min(s), 31 sec(s) ago)
(RTTNews) - UK car production declined sharply in January largely due to the ongoing effects of th ...Full Story»

Dutch Retail Sales Fall For Second Month (48 min(s), 31 sec(s) ago)
(RTTNews) - Dutch retail sales declined for the second straight month in January, data published b ...Full Story»

European Economics Preview: Swiss GDP Data Due (01 hr(s), 07 min(s), 31 sec(s) ago)
(RTTNews) - Quarterly national accounts data from Switzerland is due on Friday, headlining a busy ...Full Story»

Japan Housing Starts Continue To Decline (01 hr(s), 18 min(s), 31 sec(s) ago)
(RTTNews) - Japan's housing starts continued to decline in January, albeit at a softer pace, d ...Full Story»

Malaysia Exports Rise In January (01 hr(s), 20 min(s), 31 sec(s) ago)
(RTTNews) - Malaysia's exports rose in January, data from the Department of Statistics showed ...Full Story»

Japan Industrial Production Rises 4.2% In January (43 min(s), 29 sec(s) ago)
(RTTNews) - Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in Januar ...Full Story»

Japan Retail Sales Slip 0.5% In January (18 min(s), 29 sec(s) ago)
(RTTNews) - The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month ...Full Story»

Japan Industrial Output Climbs 4.2% In January (08 min(s), 29 sec(s) ago)
(RTTNews) - Industrial production in Japan was up a seasonally adjusted 4.2 percent on month in Ja ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Dutch Retail Sales Fall For Second Month

02/26/2021 - 01:08 AM (RTTNews)
(RTTNews) - Dutch retail sales declined for the second straight month in January, data published b ...Full Story>>

UK Car Production Declines Sharply In January: SMMT

02/26/2021 - 01:07 AM (RTTNews)
(RTTNews) - UK car production declined sharply in January largely due to the ongoing effects of th ...Full Story>>

European Economics Preview: Swiss GDP Data Due

02/26/2021 - 00:49 AM (RTTNews)
(RTTNews) - Quarterly national accounts data from Switzerland is due on Friday, headlining a busy ...Full Story>>

Japan Housing Starts Continue To Decline

02/26/2021 - 00:38 AM (RTTNews)
(RTTNews) - Japan's housing starts continued to decline in January, albeit at a softer pace, d ...Full Story>>

Malaysia Exports Rise In January

02/26/2021 - 00:36 AM (RTTNews)
(RTTNews) - Malaysia's exports rose in January, data from the Department of Statistics showed ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.