In the second quarter, GDP was flat over the previous quarter, which confirmed the preliminary estimate released on 14 August. On an annual basis, the economy expanded 0.3% in Q2, down from the 0.4% annual rise recorded in the previous quarter. The second quarter reading reflected how a slight improvement in the domestic sector, buttressed by stronger investment, was entirely offset by a negative contribution from the external sector. Private consumption fell 0.1% over the previous period (previously reported: -0.2% quarter-on-quarter), whereas government consumption expanded 0.4% (previously reported: +0.5% qoq). Meanwhile, gross fixed investment rose 0.5%, which was down from the preliminary 0.6% expansion (Q1: -0.8% qoq). In contrast, the net contribution from the external sector to overall growth deteriorated from a 0.1 percentage-point detraction in the first quarter to minus 0.4 percentage points in the second, as imports outpaced exports. Exports of goods and services rose 0.2% in Q2 (Q1: +0.1% qoq), while imports added a stronger 1.7% (Q1: +0.7% qoq). The government expects the economy to expand 0.3% this year and 1.2% in 2013.
Flat growth in Q2 confirmed
September 28, 2012
Looking for forecasts related to GDP in France? Download a sample report now.
France GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: National Institute of Statistics and Economic Studies (INSEE) and FocusEconomics Consensus Forecast.
France Economic News
October 24, 2016
The Markit Flash Composite Purchasing Managers’ Index (PMI) dropped from a revised 52.7 (previously reported: 53.3) in September to 52.2 in October.
October 3, 2016
According to preliminary figures released by the National Statistical Institute (INSEE), consumer prices in September dropped 0.2% over the previous month, contrasting August’s 0.3% increase.
September 28, 2016
The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) remained stable in September at August’s 97 points.
September 23, 2016
The French economy contracted in the second quarter.
September 23, 2016
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit, rose in September.