France’s GDP Growth Doubles In Q3

France’s economy expanded at a faster pace in the third quarter largely driven by domestic demand and exports, first estimate from the statistical office Insee showed Tuesday.

Gross domestic product advanced 0.4 percent sequentially, in line with expectations, following second quarter’s 0.2 percent expansion.

The expenditure-side of GDP showed that household consumption expenditures rebounded 0.5 percent after falling 0.1 percent. Total gross fixed capital formation grew 0.8 percent versus 0.9 percent increase a quarter ago.

Overall, final domestic demand excluding inventory changes accelerated, contributing 0.5 points to GDP growth.

The sequential growth in imports slowed to 0.3 percent from 0.7 percent, whereas the increase in exports accelerated to 0.7 percent from 0.1 percent. Consequently, the foreign trade balance contributed positively to GDP growth, by 0.1 points.

Conversely, changes in inventories contributed negatively to GDP growth by 0.2 points.