France GDP Growth Rate

The French economy expanded 0.4% qoq in Q3 of 2024, accelerating from a 0.2% growth in Q1 and exceeding market forecasts of 0.3%, flash data showed. It was the strongest quarterly growth since Q4 of 2023, supported by positive contributions mainly from final domestic demand (0.2 ppts) following the Paris Olympics. Household consumption picked up (0.5% vs flat reading in Q2), with purchases of goods rebounding after falling in the prior three quarters, due to rises in other manufactured goods, food, and energy. Also, spending on information services accelerated. Simultaneously, government expenditure rose further (0.5% vs 0.5%). On the trade front, exports (-0.5% vs. 0.5%) and imports (-0.7% vs. 0.1%) declined, making a slight positive contribution to GDP. Meanwhile, a fall in fixed investment deepened (-0.8% vs -0.1%), due to a further drop in investment for manufactured goods and a slowdown in market service investment. Yearly, the economy grew 1.3%, faster than a 1.1% increase in Q2.