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France’s GDP growth slows to 0.2 percent in third quarter: INSEE-

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National Institute of Statistics and Economic Studies

France‘s gross domestic product (GDP) growth in the third quarter (Q3) slowed to 0.2 percent in volume terms after a rebound of 0.5 percent in the second quarter, the market said on Wednesday. National Institute of Statistics and Economic Studies (INSEE) of the country.

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Gross fixed capital formation rose 1.7 percent in the third quarter, contributing dynamically to GDP growth, especially through business investment in automobiles and IT services.

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“Overall, final domestic demand, excluding inventories, contributed +0.4 points to GDP growth (after +0.3 points in the second quarter),” the institute added.

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Although foreign trade accelerated in the third quarter, with imports rising 3.5% and exports rising 2%, the contribution of foreign trade to GDP growth was consequently negative for the second consecutive quarter, with -0.5 points after -0.2 points in the second quarter, said INSEE. .

In the third quarter, the gross disposable income of French households in current euros increased by 2.6% due to the effect of the early revaluation of basic retirement pensions and family benefits in July, and the payment of exceptional aid for the back to school to modest homes. ■

(Xinhua)

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