France GDP


France: Economy beats expectations and exits technical recession

August 14, 2013

GDP rose 0.5% in the second quarter over the previous three-month period, according to a preliminary estimate released on 12 August. The increase followed the 0.2% drop seen in Q1, and exceeded market expectations of a milder 0.2% expansion. As a result, the economy has now escaped the technical recession it had entered into after two consecutive quarters of decline in GDP.

The second quarter reading reflected improvement in both the domestic and the external sides of the economy. Private consumption rose 0.4% over the previous period (Q1 2013: -0.1% quarter-on-quarter), and government consumption expanded 0.5% (Q1 2013: +0.3% qoq). Meanwhile, gross fixed investment contracted 0.5%, which followed the sharper 1.0% decline seen in Q1. On the other hand, changes in inventories added 0.3 percentage points to overall economic growth.

Meanwhile, the external sector's net contribution to overall growth improved from a 0.2 percentage-point detraction in the first quarter to zero contribution in the second quarter. Exports of goods and services increased 2.0% in Q2 (Q1 2013: -0.5% qoq), while imports rose 1.9% (Q1 2013: +0.1% qoq).

The government expects the economy to expand 0.1% in 2013. FocusEconomics Consensus Forecast panellists see the economy growing 0.2% this year, which is down 0.1 percentage points from last month's forecast. For 2014, panellists anticipate economic growth to inch up to 0.8%.


Sample Report

Looking for forecasts related to GDP in France? Download a sample report now.


France GDP Chart

France GDP Q2 2013

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

  • France: HICP inflation edges down in February

    March 15, 2018

    Revised data released by the National Statistical Institute (INSEE) on 15 March showed that consumer prices were unchanged in February from the previous month (previously reported: -0.1% month-on-month), contrasting the 0.1% month-on-month drop observed in January.

    Read more

  • France: Industrial output plummets in January

    March 9, 2018

    Industrial production contracted 2.0% in month-on-month terms in January, coming in below the 0.2% increase observed in December.

    Read more

  • France: HICP inflation edges down in February

    February 28, 2018

    Preliminary data released by the National Statistical Institute (INSEE) on 28 February showed that consumer prices dropped 0.1% from the previous month in February (January: -0.1% month-on-month).

    Read more

  • France: Economic growth accelerates in Q4

    February 28, 2018

    The French economy closed 2017 on a strong note, according to the second estimate for the fourth quarter released by the National Statistical Institute (INSEE) on 28 February.

    Read more

  • France: Consumer confidence declines in February

    February 27, 2018

    The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) dropped from 104 points in January to 100 points in February, undershooting market expectations of a softer drop to 103 points.

    Read more

More news