The French economy expanded 18.7 percent on quarter in the third quarter of 2020, higher than initial estimates of 18.2 percent, and following a record 13.8 percent drop in the previous period. It is the biggest expansion ever, as the economy rebounds from the coronavirus pandemic and national lockdown. Revisions are mostly due to the integration of new data for September, especially for household consumption and investment in services. Household spending (17.9% vs 17.3%), government consumption (15.5% vs 15.4%), and investment (23.9% vs 23.3%) were all revised higher. In contrast, the contribution from net foreign trade was lower than initially anticipated (0.7 percentage points vs 1.2 percentage points). Still, GDP remained well below its pre-pandemic level and was down 3.9 percent over a year earlier, compared to initial estimates of a 4.3 percent drop. source: INSEE, France

GDP Growth Rate in France averaged 0.76 percent from 1949 until 2020, reaching an all time high of 18.70 percent in the third quarter of 2020 and a record low of -13.80 percent in the second quarter of 2020. This page provides the latest reported value for - France GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

GDP Growth Rate in France is expected to be -3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in France to stand at 1.40 in 12 months time. In the long-term, the France GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.60 percent in 2022, according to our econometric models.

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France GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
18.70 -13.80 18.70 -13.80 1949 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-31 05:30 AM QoQ Prel Q2 -13.8% -5.9% -15.3% -16.2%
2020-08-28 06:45 AM QoQ Final Q2 -13.8% -5.9% -13.8% -13.8%
2020-10-30 06:30 AM QoQ Prel Q3 18.2% -13.7% 15.4% 15.1%
2020-11-27 07:45 AM QoQ Final Q3 18.7% -13.8% 18.2% 18.2%
2021-01-29 06:30 AM QoQ Prel Q4 18.7%
2021-02-26 07:45 AM QoQ Final Q4 18.7%
2021-04-30 05:30 AM QoQ Prel Q1
2021-05-28 06:45 AM QoQ Final Q1


News Stream
French GDP Growth Revised Higher to Record 18.7%
The French economy expanded 18.7 percent on quarter in the third quarter of 2020, higher than initial estimates of 18.2 percent, and following a record 13.8 percent drop in the previous period. It is the biggest expansion ever, as the economy rebounds from the coronavirus pandemic and national lockdown. Revisions are mostly due to the integration of new data for September, especially for household consumption and investment in services. Household spending (17.9% vs 17.3%), government consumption (15.5% vs 15.4%), and investment (23.9% vs 23.3%) were all revised higher. In contrast, the contribution from net foreign trade was lower than initially anticipated (0.7 percentage points vs 1.2 percentage points). Still, GDP remained well below its pre-pandemic level and was down 3.9 percent over a year earlier, compared to initial estimates of a 4.3 percent drop.
2020-11-27
French Q3 GDP Expands at Record Pace
The French economy grew at a record pace of 18.2% on quarter in the third quarter of 2020, a reversal from a 13.7% contraction in the previous period when the country was in strict COVID-19 lockdown, and beating market consensus of a 15.4% rise, a preliminary estimate showed. Household spending (17.3% vs -11.6%), government consumption (15.4% vs -10.4%), and investment (23.3% vs -14.3%) all rebounded sharply. Also, net foreign trade contributed positively (1.2 percentage points), amid a sharp turnaround in exports (23.2%) while imports rose 16%. Year-on-year, the GDP shrank 4.3%, remaining below its pre-pandemic level.
2020-10-30
French Economy Shrinks at Record Pace
The French economy shrank at a record 13.8% on quarter in the second quarter of 2020, in line with preliminary estimates, and following a 5.9% fall in the previous period. The economic recession deepened as the COVID-19 outbreak took a huge toll on the economy, with non-essential activities being closed between mid-March and the beginning of May. Household spending (-11.5% vs -11%) and government consumption (-10.3% vs -8%) fell more than anticipated while investment shrank less (-10.3% vs -17.8%). Also, the drag from foreign trade was higher (-2.5 percentage points vs -2.3 percentage points) as exports fell at an unrevised 25% and imports shrank less (-16.4% vs -17.3%). The French central bank expects the economy to shrink 10% in 2020 and rebound 7% in 2021 and 4% in 2022, according to forecasts made in June of 2020.
2020-08-28
French Q2 GDP Contracts at Record Pace
The French economy shrank at a record 13.8 percent on quarter in the three months to June 2020, compared with market forecasts of a 15.3 percent contraction and after a revised 5.9 percent decline in the prior quarter. The economic recession deepened as the COVID-19 outbreak took a huge toll on the economy, with non-essential activities being closed between mid-March and the beginning of May. There were sharper declines in household consumption (-11.0 percent vs -5.8 percent), led by further falls in spending on both goods and services; fixed investment (-17.8 percent vs -10.3 percent), mainly led by construction; and government spending (-8 percent vs -3.5 percent). In addition, net foreign demand contributed negatively as exports plunged 25.5 percent while imports 17.3 percent. Conversely, changes in inventory contributed positively, adding 0.6 points.
2020-07-31

France GDP Growth Rate
France is the seventh largest economy in the world and the second largest in the Euro Area. the biggest sector of the economy is household consumption (55 percent) followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). Exports of goods and services account for 29 percent of GDP while imports account for 31 percent, subtracting 2 percent from total GDP.