France GDP growth accelerated to 0.4% in Q3, household consumption recovered

French GDP rose by 0.4% qoq in Q3, accelrated from Q2’s 0.2% qoq, matched expectations.

• GDP in volume terms accelerated slightly: +0.4% after +0.2%.
• Household consumption expenditures recovered (+0.5% after −0.1%).
• Total gross fixed capital formation grew almost as quickly as in the previous quarter (GFCF: +0.8% after +0.9%).
• Overall, final domestic demand excluding inventory changes accelerated: it contributed 0.5 points to GDP growth, after 0.2 points in the previous quarter.
• Imports slowed down in Q3 (+0.3% after +0.7%), whereas exports accelerated (+0.7% after +0.1%).
• All in all, foreign trade balance contributed positively to GDP growth, +0.1 points, after −0.2 points in Q2.
• Conversely, changes in inventories contributed negatively to GDP growth (−0.2 points after +0.2 points).

Full release here.