The French economy expanded by 0.2% quarter-on-quarter in the Q1 of 2024, aligning with initial estimates and above the previous period’s 0.1% growth. The slight upturn was supported by the further increase in government spending (0.6% vs 0.4% in Q4), and the positive contribution from net trade, as exports rose 1.2% (vs 1%) and imports grew at a slower 0.4% (vs -1.7%). Meanwhile, growth moderated for household consumption (0.1% vs 0.2%), weighed by a fall in spending on transport equipment (-3.4%), while fixed investments continued to decline (-0.4% vs -1.0%), driven by declines in construction (-1.3%) and capital goods (-1.7%). Also, the contribution of inventory changes to the GDP growth was again negative during the quarter (-0.2 points vs -0.7 points). On an annual basis, the economy advanced 1.1%, the sharpest economic growth in three-quarter periods. source: INSEE, France
The Gross Domestic Product (GDP) in France expanded 0.20 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in France averaged 0.75 percent from 1949 until 2024, reaching an all time high of 17.50 percent in the third quarter of 2020 and a record low of -13.10 percent in the second quarter of 2020. This page provides the latest reported value for - France GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2024.
The Gross Domestic Product (GDP) in France expanded 0.20 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in France is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France GDP Growth Rate is projected to trend around 0.30 percent in 2025 and 0.40 percent in 2026, according to our econometric models.
France GDP Growth Rate
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.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 0.20 | 0.10 | 17.50 | -13.10 | 1949 - 2024 | percent | Quarterly | SA |
News Stream
France Q1 GDP Growth Confirmed at 0.2%
The French economy expanded by 0.2% quarter-on-quarter in the Q1 of 2024, aligning with initial estimates and above the previous period’s 0.1% growth. The slight upturn was supported by the further increase in government spending (0.6% vs 0.4% in Q4), and the positive contribution from net trade, as exports rose 1.2% (vs 1%) and imports grew at a slower 0.4% (vs -1.7%). Meanwhile, growth moderated for household consumption (0.1% vs 0.2%), weighed by a fall in spending on transport equipment (-3.4%), while fixed investments continued to decline (-0.4% vs -1.0%), driven by declines in construction (-1.3%) and capital goods (-1.7%). Also, the contribution of inventory changes to the GDP growth was again negative during the quarter (-0.2 points vs -0.7 points). On an annual basis, the economy advanced 1.1%, the sharpest economic growth in three-quarter periods.
2024-05-31
French Economy Expands More than Expected in Q1
The French economy grew by 0.2% qoq in Q1 of 2024, above market forecasts and Q4's figures of 0.1%, preliminary data showed. It was the strongest pace of quarterly expansion since Q2 of 2023, amid strong contribution from final domestic demand (0.4 ppts). Household consumption accelerated (0.4% vs 0.2% in Q4), due to stable purchases of goods (0.1% vs -0.5%) and an upturn in energy consumption (0.7% vs -2.3%). Also, government spending rose further (0.6% vs 0.5%). Fixed investment rebounded (0.3% vs -0.9%), linked to a bounce back in manufactured goods (0.8% vs -1.1%), namely transport equipment; and in market services (0.5% vs -0.8%), particularly communication. Meanwhile, net trade did not contribute to the GDP, with imports growing by 0.2% (vs -2.3% in Q4) and exports adding 0.5% (vs 0.4%). The contribution of inventory changes stayed negative (-0.2% vs -0.9%). Yearly, the economy expanded 1.1% in Q1, exceeding consensus of 0.9% and pointing to the strongest rise in three quarters.
2024-04-30
French Economy Slightly Grows in Q4
The French economy rose 0.1% on quarter in the Q4 of 2023, compared to initial estimates and the previous period’s stagnant reading. Foreign trade contributed positively to the GDP, adding 0.9 percentage points, as exports stabilized (vs -0.7% in Q3) while imports fell 2.3% (vs -.4%). It was almost offset by the negative contribution from domestic demand (-0.1 pp), with fixed investments falling sharply (-0.9% vs 0.2%), particularly construction (-1.1% vs -0.4%) and information communication (-0.9% vs 0.7%); and household consumption stagnated, penalized by a decline in consumption of goods (-0.6% vs 0.6%). On a yearly basis, the GDP expanded 0.7%, up from a 0.6% growth in the previous period. For the full year, the economy rose 0.9% moderating from a robust 2.5% expansion in 2022.
2024-02-29
