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France GDP Growth Rate

Last Release
Mar 31, 2024
Actual
0.2
Units In
%
Previous
0
Frequency
Quarterly
Next Release
May 31, 2024
Time to Release
30 Days 6 Hours
Highest
Lowest
Average
Date Range
Source
18.6
Sep 2020
-13.5
Jun 2020
0.74 %1949-2024N/A
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.

Latest Updates

The French economy grew by 0.2% qoq in Q1 of 2024, above market forecasts and Q4's figures of 0.1%, preliminary data showed. It was the strongest pace of quarterly expansion since Q2 of 2023, amid strong contribution from final domestic demand (0.4 ppts). Household consumption accelerated (0.4% vs 0.2% in Q4), due to stable purchases of goods (0.1% vs -0.5%) and an upturn in energy consumption (0.7% vs -2.3%). Also, government spending rose further (0.6% vs 0.5%). Fixed investment rebounded (0.3% vs -0.9%), linked to a bounce back in manufactured goods (0.8% vs -1.1%), namely transport equipment; and in market services (0.5% vs -0.8%), particularly communication. Meanwhile, net trade did not contribute to the GDP, with imports growing by 0.2% (vs -2.3% in Q4) and exports adding 0.5% (vs 0.4%). The contribution of inventory changes stayed negative (-0.2% vs -0.9%). Yearly, the economy expanded 1.1% in Q1, exceeding consensus of 0.9% and pointing to the strongest rise in three quarters.

France GDP Growth Rate History

Last 12 readings

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