In the second quarter, GDP was flat over the previous quarter, according to a preliminary estimate released on 14 August. The reading marked the third consecutive quarter of zero growth but defied market expectations of a 0.1% contraction. On an annual basis, the economy expanded 0.6% in Q2, up from the 0.2% 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 0.2% over the previous period (Q1: +0.2% quarter-on-quarter) whereas government consumption expanded 0.5% (Q1: +0.5% qoq). Meanwhile, gross fixed investment rose 0.6%, which contrasted the 0.8% contraction seen in Q1. 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 0.5 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 1.8% (Q1: +0.6% qoq).
Economic growth stalls for third consecutive quarter
August 14, 2012
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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 composite Purchasing Managers’ Index (PMI), produced by IHS Markit, rose in September.
September 23, 2016
The French economy contracted in the second quarter.