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- France’s economy expands more than initially thought in Q2
France’s economy expands more than initially thought in Q2
INSEE
reported on Tuesday that the French economy expanded more than
initially estimated in the second quarter of 2021.
According
to the final estimate, France’s gross domestic product (GDP) grew 1.1 percent q-o-q
in the second quarter, slightly better than a 0.9 percent q-o-q advance
reported in the initial estimate. Still, the country’s GDP remained 3.2 percent
below its pre-pandemic level.
Economists
had expected the growth rate to stay unrevised at 0.9 percent q-o-q, after
being unchanged q-o-q in the first quarter.
The
data showed the household consumption rose 1.0 percent in the second quarter, following a flat performance in the previous quarter. Meanwhile, fixed investment increased
2.4 percent after a 0.4 percent gain in the first quarter. Inventory changes
added 0.1 points to GDP Q2 growth, while foreign trade subtracted 0.2 points as
imports increased more than exports.
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