In the fourth quarter, GDP rose a seasonally and working-day adjusted 0.2% over the previous quarter, confirming the preliminary estimate released on 15 February. Although the reading was below the 0.3% increase recorded in the third quarter, it defied market expectations of a 0.1% drop. On an annual basis, the economy expanded 1.4% in the fourth quarter, down from the 1.5% annual rise recorded in the third. For the full year 2011, GDP expanded 1.7%, faster than 2010's 1.4% increase. The fourth quarter expansion was driven by an improvement in the external sector. The external sector's net contribution to overall growth rose from 0.1 percentage points in the third quarter to 0.6 percentage points in the fourth, as exports outpaced imports. Exports of goods and services rose 1.2%, unchanged from the previous quarter, while imports contracted 1.0% (Q3 2011: +0.6% quarter-on-quarter). Meanwhile, private consumption rose 0.2% over the previous period (Q3 2011: +0.3% qoq), while gross fixed investment rose 1.1% (Q3 2011: +0.2% qoq). That said, the contribution of inventory changes worsened, from minus 0.1 percentage points in the third quarter to minus 0.8 percentage points in the fourth. The government recently upgraded its growth forecast for this year to 0.7% from a previous 0.5%. In 2013, the economy may will expand 1.75%, according to the Finance Ministry.
GDP growth confirmed in Q4
March 28, 2012
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France Economic News
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 composite Purchasing Managers’ Index (PMI), produced by IHS Markit, rose in September.
September 23, 2016
The French economy contracted in the second quarter.
September 22, 2016
According to the National Institute of Statistics and Economic Studies’ (INSEE) business climate survey, the business confidence indicator rose from August’s over-one-year low of 101 points to 103 points in September.