French Q4 GDP Growth Confirmed at 0.6%

The French economy grew by 0.6 percent on quarter in the three months to December of 2017, unrevised from the preliminary estimate and following a 0.5 percent expansion in the previous quarter.
INSEE | Joana Ferreira | 2/28/2018 8:08:35 AM
The largest contribution to growth was from net trade at 0.6 percentage points, followed by fixed investment at 0.3 percentage points and household spending at 0.1 percentage points. Meanwhile, changes in inventories had a negative contribution of 0.4 percentage points.

Exports grew by 2.4 percent, much stronger than a 1 percent increase in the preceding quarter; while imports rose by only 0.3 percent, after a 2.2 percent growth in the previous period.

Gross fixed capital formation rose at a faster 1.2 percent, after a 0.9 percent rise in the September quarter. Meanwhile, household consumption increased by 0.2 percent (vs 0.6 percent in Q3) and government expenditure went up by 0.2 percent (vs 0.6 percent in Q3). 

Year-on-year, the GDP rose by 2.5 percent, above the preliminary estimate of 2.4 percent and following a 2.3 percent increase in the third quarter. It was the fastest pace of expansion since the first quarter of 2011.

For full 2017, the economy expanded by 2 percent, its best performance since 2011. The figure came in above the first estimate of 1.9 percent and compared with 1.1 percent in 2016. 

French Q4 GDP Growth Confirmed at 0.6%