France GDP Growth Rate

Last Release

Sep 30, 2024

Actual

0.4

Units In

0.2

Frequency

Quarterly

Next Release

Feb 28, 2025

Time to Release

2 Months 28 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
18.6 Sep 2020	-13.5 Jun 2020	0.74 %	1949-2024	N/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 expanded by 0.4% quarter-on-quarter in Q3 2024, aligning with initial estimates and accelerating from 0.2% growth in the previous period. This marked the strongest performance in three quarters, driven primarily by a sharp rebound in household consumption (0.6% after remaining flat in Q2), notably due to increased spending on services (0.9% vs. 0.5%), boosted by the Paris Olympics. Government spending also maintained steady growth at 0.3%, while inventory changes contributed slightly positively to GDP growth (0.1 points vs. -0.1 points). In contrast, fixed investments saw a deeper decline (-0.7% vs. -0.1%), mainly due to a sharp drop in manufactured goods (-4.2% vs. -1.4%). Net trade also weighed on GDP, as exports fell by 0.8% (vs. 0.6%), while imports decreased more moderately by 0.6% (vs. 0.1%). On an annual basis, the economy grew by 1.2%, revised down from the preliminary estimate of 1.3%, but up from 0.9% growth in the previous quarter.