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French Q3 economic growth confirmed at 0.4% – INSEE
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(Reuters) – France’s economy grew 0.4% in the third quarter of 2024, official data from the country’s statistics office INSEE showed on Friday, driven by positive fallbacks from the Paris Olympics.
(Reuters) – France’s economy grew 0.4% in the third quarter of 2024, official data from the country’s statistics office INSEE showed on Friday, driven by positive fallbacks from the Paris Olympics.
According to the institute, France’s gross domestic product (GDP) grew by an average of 0.4% over the July-September period, confirming the preliminary figure published in October.
A Reuters poll of 25 economists had on average forecast 0.4% growth in the third quarter.
“Household consumption recovers (+0.6% after remaining stable in the second quarter), driven in particular by an acceleration in the consumption of services (+0.9% after +0.5%), partly as a result of the recording of the Olympic and Paralympic Games ticket sales,” the statistics office said.
French exports, penalised by exports of goods, fell at -0.8% following a 0.6% increase in the previous quarter, while imports saw a -0.6% decrease in the quarter, according to INSEE.
(Reporting by Alban Kacher in Gdansk; editing by Milla Nissi)
Economic growth refers to the increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.
Household consumption is the total value of all goods and services consumed by households, reflecting consumer spending and economic activity.
Exports are goods and services produced in one country and sold to another, contributing to the exporting country's GDP and economic growth.
Imports are goods and services brought into a country from abroad for sale, affecting the balance of trade and overall economic performance.
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