In the fourth quarter, GDP fell 0.3% over the previous three-month period, according to data released by the National Statistical Institute (INSEE). The reading matched the preliminary estimate released on 14 February and contrasted the 0.2% rise seen in Q3. In the full year 2012, French GDP growth was null, down from the 1.7% expansion tallied in 2011. The fourth quarter reading reflected a deterioration in both the domestic and the external side of the economy. Private consumption fell 0.1% over the previous period (Q3 2012: +0.1% quarter-on-quarter) whereas government consumption expanded 0.3% (Q3: +0.4% qoq). Meanwhile, gross fixed investment contracted 0.8%, which followed the 0.4% decline seen in Q3. Furthermore, changes in inventories detracted 0.4 percentage points from overall economic growth. On the external sector, exports of goods and services decreased 0.6% in Q4 (Q3: +1.0% qoq), while imports contracted 1.2% (Q3: -0.2% qoq). As a result, the net contribution from the external sector to overall growth inched down from a 0.3 percentage-point contribution in the third quarter to a 0.2 percentage-point contribution in the fourth. FocusEconomics Consensus Forecast panellists project a zero growth rate for this year, which is unchanged from last month's forecast. In 2014, panellists anticipate economic growth to reach 0.9%.
Economy contracts in Q4
March 27, 2013
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 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.