French Q3 economic growth confirmed at 0.4% – INSEE
3:52 am Friday, November 29th, 2024
(Reuters) – France’s economy grew 0.4% in the third quarter of 2024, official data from the country’s statistics office INSEE showed on Friday, driven by positive fallbacks from the Paris Olympics.
According to the institute, France’s gross domestic product (GDP) grew by an average of 0.4% over the July-September period, confirming the preliminary figure published in October.
A Reuters poll of 25 economists had on average forecast 0.4% growth in the third quarter.
“Household consumption recovers (+0.6% after remaining stable in the second quarter), driven in particular by an acceleration in the consumption of services (+0.9% after +0.5%), partly as a result of the recording of the Olympic and Paralympic Games ticket sales,” the statistics office said.
French exports, penalised by exports of goods, fell at -0.8% following a 0.6% increase in the previous quarter, while imports saw a -0.6% decrease in the quarter, according to INSEE.
(Reporting by Alban Kacher in Gdansk; editing by Milla Nissi)
