France Croissance Du Pib

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.