2023-10-31 09:20:43
Growth in France’s gross domestic product (GDP) slowed to 0.1% in the third quarter, barely remaining in positive territory thanks to the rebound in household consumption, according to a first estimate from INSEE published on Tuesday.
This modest increase in GDP between July and September, in line with the forecast of the National Institute of Statistics, marks a clear slowdown compared to the growth of 0.6% recorded in the second quarter – INSEE revised it in increase of 0.1 point.
Growth of 0.9% over the year
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For the whole of 2023, INSEE anticipates growth of 0.9%, identical to the forecast of the Banque de France and a little below that of the government (+1%).
After sluggishness, household consumption of goods and services increased by 0.7% in the third quarter, marked in particular by an increase in food consumption, in a context of easing inflation. Business investment continued to show dynamism (+1.5%).
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On the other hand, after a dynamic second quarter, exports contracted by 1.4% over the period, so that the contribution of foreign trade to growth is negative.
Manufacturing production also fell, by 0.3%, and that of market services slowed to 0.3%.
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