France GDP Growth Beats Expectations
30 7월 2024 - 12:43PM
RTTF2
France's economy posted a faster-than-expected growth in the
second quarter on investment and exports, the first estimate from
the statistical office INSEE showed on Tuesday.
Gross domestic product expanded 0.3 percent sequentially,
beating expectations for a growth of 0.2 percent. The rate matched
the 0.3 percent growth logged in the first quarter, which was
revised up from 0.2 percent.
The expenditure-side of GDP showed that final domestic demand
made a positive contribution to GDP growth due to the slight
rebound in gross fixed capital formation.
Gross fixed capital formation edged up 0.1 percent, reversing a
0.4 percent fall in the first quarter. At the same time, household
consumption remained unchanged after a 0.1 percent drop in the
preceding period.
The quarterly growth in government expenditure halved to 0.3
percent from 0.6 percent in the prior period.
Foreign trade also made a positive contribution of 0.2 points to
the growth as imports remained flat, while exports logged a dynamic
0.6 percent expansion. Finally, changes in inventories made no
contribution to GDP growth again this quarter.
Another data from the statistical office showed that household
spending decreased in June due to lower energy and food
consumption. Household spending fell 0.5 percent, in contrast to
the 0.8 percent increase in May. Consumption was forecast to drop
0.4 percent.
Earlier in a note, the statistical office INSEE said the impact
of the Paris Olympic and Paralympic Games on economic activity is
expected to be around 0.3 GDP points in the third quarter.
Some of these positive effects have already been seen,
especially in the construction sector, the INSEE noted. As the
support is likely to be non-recurring, a sharp slowdown in activity
is expected in the fourth quarter. The country is currently
undergoing a political impasse after a snap parliamentary election.
Earlier this year, the government downgraded France's growth
outlook to 1.0 percent from 1.4 percent.
The International Monetary Fund forecast France's economy to
grow 0.9 percent this year and 1.3 percent in 2025.
Elsewhere, Spain GDP expanded 0.8 percent in the third quarter.
Second quarter GDP data is also due from Germany and Italy.
Euro vs Yen (FX:EURJPY)
외환 차트
부터 7월(7) 2024 으로 7월(7) 2024
Euro vs Yen (FX:EURJPY)
외환 차트
부터 7월(7) 2023 으로 7월(7) 2024