The French economy grew by 0.5% in Q2 of 2023, strongly accelerating from a downwardly revised 0.1% advance in Q1 and beating market forecasts of a 0.1% rise, a preliminary estimate showed. This was the strongest pace of expansion since Q2 of 2022, as net trade contributed positively to the GDP (0.7 pp vs 0.5 pp in Q1), with exports rising 2.6% (vs -0.8% in Q1) while imports increased at a softer 0.4% (vs -2.0%). Also, fixed investment rose 0.1% after contracting 0.4% in Q1, mainly lifted by higher investment in transport equipment. At the same time, government spending was flat, compared to a 0.2% decline in Q1. Meanwhile, household consumption fell after being flat previously, linked to ongoing cost pressures and rising borrowing costs, with spending on food dropping for the sixth straight quarter while energy consumption slowed sharply. Inventory changes remained a drag on the GDP (-0.1 pp vs -0.3 pp). On a yearly basis, the economy expanded by 0.9% in Q2, the same pace as in Q1. source: INSEE, France

GDP Growth Rate in France averaged 0.75 percent from 1949 until 2023, reaching an all time high of 17.40 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 August of 2023.

GDP Growth Rate in France is expected to be 0.30 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 0.50 percent in 2024 and 0.40 percent in 2025, according to our econometric models.

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France GDP Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-05-31 06:45 AM QoQ Final Q1 0.2% 0% 0.2% 0.2%
2023-07-28 05:30 AM QoQ Prel Q2 0.5% 0.1% 0.1% 0.1%
2023-08-31 06:45 AM QoQ Final Q2 0.1% 0.5% 0.5%


Related Last Previous Unit Reference
GDP Growth Rate 0.50 0.10 percent Jun 2023
GDP Annual Growth Rate 0.90 0.90 percent Jun 2023
GDP Constant Prices 592964.00 589734.00 EUR Million Jun 2023
Gross Fixed Capital Formation 145565.00 145363.00 EUR Million Jun 2023
Full Year GDP Growth 2.60 6.80 percent Dec 2022
GDP from Utilities 11253.00 11002.00 EUR Million Jun 2023
GDP from Transport 20299.00 20009.00 EUR Million Jun 2023
GDP from Services 312111.00 309665.00 EUR Million Jun 2023
GDP from Manufacturing 57101.00 56427.00 EUR Million Jun 2023
GDP from Construction 26612.00 26882.00 EUR Million Jun 2023
GDP from Agriculture 7876.00 7866.00 EUR Million Jun 2023

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
0.50 0.10 17.40 -13.10 1949 - 2023 percent Quarterly
SA

News Stream
French Q2 GDP Growth Picks Up
The French economy grew by 0.5% in Q2 of 2023, strongly accelerating from a downwardly revised 0.1% advance in Q1 and beating market forecasts of a 0.1% rise, a preliminary estimate showed. This was the strongest pace of expansion since Q2 of 2022, as net trade contributed positively to the GDP (0.7 pp vs 0.5 pp in Q1), with exports rising 2.6% (vs -0.8% in Q1) while imports increased at a softer 0.4% (vs -2.0%). Also, fixed investment rose 0.1% after contracting 0.4% in Q1, mainly lifted by higher investment in transport equipment. At the same time, government spending was flat, compared to a 0.2% decline in Q1. Meanwhile, household consumption fell after being flat previously, linked to ongoing cost pressures and rising borrowing costs, with spending on food dropping for the sixth straight quarter while energy consumption slowed sharply. Inventory changes remained a drag on the GDP (-0.1 pp vs -0.3 pp). On a yearly basis, the economy expanded by 0.9% in Q2, the same pace as in Q1.
2023-07-28
French Q1 GDP Growth Confirmed at 0.2%
The French economy advanced 0.2% on quarter in Q1 of 2023, rising from flat reading in Q4, in line with market consensus. Household consumption rebounded (0.1% vs -1% in Q4), driven up by energy consumption (5.7% vs -8.0%). Further, gross fixed capital formation declined (-0.8% vs 0.2%) because of investment in construction (-1.1% vs 0%). Meantime, net foreign demand contributed positively to the GDP, as exports slumped more moderately (-0.2% vs 0.2%), while imports fell firmly (-2.8% vs -0.8%), due to the sharp drop in imports of goods. On a yearly basis, the GDP expanded by 0.8% in Q1, after a 0.5% growth in Q4.
2023-05-31
French Economy Grows Slightly in Q1
The French economy grew by 0.2 percent in the first quarter of 2023 after a flat fourth quarter, and in line with market expectations, a preliminary estimate showed. Net trade contributed positively to the GDP (0.6 pp vs 0.2 pp in Q4) as exports rose 1.1 percent (vs 0.9 percent in Q4) and imports fell 0.6 percent (vs 0.1 percent in Q4). Meanwhile, household consumption was unchanged amid stubbornly high inflation and rising borrowing costs, still recovering from a 1.0 percent decline in the previous period thanks to a rebound in energy consumption and a larger increase in the consumption of services. On the other hand, food consumption declined for a fifth consecutive quarter. Government spending edged down (-0.1 percent vs 0.5 percent), as did fixed investment (-0.2 percent vs 0.0 percent). Inventory changes were also a drag on the GDP. On a yearly basis, the GDP expanded by 0.8 percent in the first quarter, accelerating from a 0.4 percent growth in the previous period.
2023-04-28