Latest Updates

• France GDP: Q3 2025 (Final) 2025-11-28 02:45

  

  France’s GDP growth was confirmed at +0.5% QoQ in Q3 2025 (after +0.3% QoQ in Q2) in the 2nd estimate, marking a clear acceleration supported by stronger exports, firmer investment, and steady domestic demand.

  • Final domestic demand excluding inventories contributed +0.3 ppts to growth (Q2: +0.2 ppts), as household consumption held at +0.1% QoQ with energy spending rebounding +1.3% and services up +0.1%, offsetting a -1.0% decline in food spending.

  • GFCF rose +0.5% QoQ (after 0.0%), led by information and communication investment (+1.7%) and capital goods (+1.7%), while general government consumption remained firm at +0.5%.

  • Exports surged +3.2% QoQ (after +0.3%), driven by transport equipment (+13.4%), while imports increased +1.3% (after +1.5%), yielding a +0.6 ppt net trade contribution (Q2: -0.4 ppts).

  • Inventory changes subtracted -0.4 ppts (Q2: +0.6 ppts), mainly due to drawdowns in transport equipment, particularly aeronautics.

  • Household purchasing power per consumption unit fell -0.4% QoQ (after +0.1%), as consumer prices rose +0.5%, and the household savings rate declined to 18.4% (Q2: 18.7%).

  • Hours worked increased +0.1% after three quarters of decline, supported by stable employment (+0.1%).

  • Non-financial corporation margins improved to 31.5% (Q2: 31.1%), helped by productivity gains and slower growth in wages and employer contributions.

  • Government revenues rose €2.7 bn and spending increased €2.6 bn, leaving the general government borrowing requirement broadly unchanged at 5.4% of GDP.

  Source
• France GDP: Q3 2025 (Preliminary) 2025-10-30 01:30

  

  France’s GDP rose +0.5% QoQ (vs +0.1% QoQ expected) in Q3 2025 (after +0.3% in Q2), marking a modest acceleration supported by stronger exports and steady domestic demand despite a negative inventory contribution. This is the strongest quarterly growth since Q2 2023.

  • Final domestic demand excluding inventories contributed +0.3 ppts to growth (after +0.2 ppts), as household consumption was flat (+0.1% after +0.1%) and GFCF recovered moderately (+0.4% after 0.0%).

  • Foreign trade added +0.9 ppts to GDP growth (after -0.4 ppts), with exports surging +2.2% (after +0.3%) and imports falling -0.4% (after +1.4%), marking a clear turnaround in external balance.

  • Inventory changes subtracted -0.6 ppts from growth (after +0.5 ppts), largely due to a pullback in aeronautics, chemicals, and pharmaceuticals after prior quarters of strong restocking.

  • Total production advanced +0.8% (after +0.3%), driven by manufacturing (+1.1%) and market services (+0.7%), while construction was stable (+0.1%).

  • Manufacturing output was lifted by a sharp rebound in refineries (+10.6% after -10.2%) and steady growth in capital goods (+0.4%) and transport equipment (+2.8%), offset by continued declines in food and beverages (-1.3%).

  • Household consumption of goods was flat overall (+0.0%), with food purchases falling -1.0% after prior gains, while energy use rebounded +1.3% and service spending rose modestly (+0.2%).

  • Investment growth reflected gains in capital goods (+2.1%) and ICT (+1.7%), partly offset by continued declines in construction (-0.1%).

  • Exports were boosted by transport equipment (+8.9%) and pharmaceuticals, while imports fell mainly on weaker energy and food demand.

  • GDP growth for Q2 2025 was confirmed at +0.3%, with minor revisions to contributions (foreign trade -0.4 ppts vs -0.3 ppts previously).

  Source
• France GDP: Q2 2025 (Final) 2025-08-29 02:45

  

  French GDP grew +0.3% QoQ in Q2 2025 (after +0.1% in Q1), confirming the preliminary estimate of growth, with household purchasing power rebounding slightly while corporate margins fell for a third straight quarter.

  • Household consumption was flat (0.0% QoQ), as a -2.4% drop in energy spending was offset by gains in food (+1.6%) and accommodation services (+2.3%).

  • GFCF slipped -0.1% QoQ, with ongoing weakness in construction (-0.4%) and transport equipment (-2.0%) partly cushioned by business services (+1.2%).

  • Exports rose +0.5% QoQ, but imports jumped +1.3%, leaving net trade a -0.3 ppt drag on GDP growth.

  • Inventories contributed +0.5 ppts to growth, led by transport equipment, especially aeronautics.

  • Household purchasing power per consumption unit rose +0.2% QoQ, the savings rate increased to 18.9%, and NFC profit margins declined to 30.7% (from 31.4%).

  • Hours worked fell -0.2% QoQ, extending a three-quarter decline, while total employment stabilized after two quarters of contraction.

   

  Source
• France GDP: Q2 2025 (Preliminary) 2025-07-30 01:30
  

  French GDP grew +0.3% QoQ in Q2 2025 (vs 0.1% QoQ expected) after increasing just +0.1% QoQ in Q1 2025, with inventories again the largest driver while domestic demand remained flat and net trade dragged growth.

  • Household consumption rebounded slightly (+0.1% QoQ after -0.3%), as food services and accommodation jumped (+2.4%) but energy consumption fell sharply (-2.4%).
  • GFCF declined -0.3% QoQ (after -0.1%), including another drop in construction (-0.4%) and transport equipment (-2.3%).
  • Exports rose slightly (+0.2%) but were outpaced by imports (+0.8%), leading to a -0.2 ppt drag from net trade.
  • Inventory changes contributed +0.5 ppts to growth, led by restocking in the transport sector (notably aeronautics).
  • Manufacturing output slowed to +0.1% (from +0.5%), as refineries (-10.6%) and food production (-2.0%) fell, while aerospace surged (+4.8%).

  Source
• France GDP: Q1 2025 (Final) 2025-05-28 01:30
  

  French GDP was confirmed at an increase of 0.1% QoQ in Q1 2025 (after -0.1% QoQ in Q4 2024), supported by a large inventory build while final domestic demand and net trade dragged growth.

  • There were some revisions within the components:
  • Household consumption declined -0.2% QoQ, driven by a sharp -4.0% drop in transport equipment spending.
  • GFCF was flat (0.0% QoQ), as declines in construction (-0.9%) offset gains in IT/communications (+2.0%).
  • Exports dropped -1.8% QoQ (vs +0.7% prior), while imports rose +0.5%, resulting in a -0.8 ppt drag from net trade.
  • Inventory changes contributed +1.0 ppt to GDP growth, driven by chemicals, pharma, food, and transport equipment.
  • Household purchasing power per consumption unit increased slightly (+0.1% QoQ), with the savings rate rising to 18.8%.
  • Hours worked fell -0.4% QoQ due to both lower employment (-0.3%) and hours per job (-0.2%).
  • Non-financial corporate profit margins edged down to 31.8% (from 32.0%), mostly due to falling value-added prices.
  • The general government borrowing requirement declined to 5.6% of GDP (from 5.8%), as tax revenues outpaced spending.

  Source
• France GDP: Q1 2025 (Preliminary) 2025-04-30 01:30
  

  French GDP grew 0.1% QoQ (vs 0.2% QoQ expected) in Q1 2025, rebounding slightly after a -0.1% contraction in Q4 2024, but final domestic demand stalled and net trade dragged growth.

  • Household consumption was flat (0.0% QoQ), while GFCF declined -0.2%, driven by drops in construction (-0.8%) and manufactured goods (-0.5%).
  • Exports fell -0.7% QoQ, led by chemicals and autos, while imports rose +0.4%, resulting in a -0.4 ppt drag from net trade.
  • Inventory changes contributed +0.5 ppts to GDP growth, the largest positive contribution since 2022.
  • When excluding inventories, final domestic demand saw no little to no growth and made a 0.0 ppt contribution to quarterly GDP growth.
  • Manufacturing output rose +0.4%, including sharp gains in food/beverages (+1.6%) and transport equipment (+1.4%), while capital goods and refining declined.
  • Market services rebounded +0.4% and construction output fell again (-0.5%), continuing a year-long contraction trend.

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• France GDP: Q4 2024 (Final) 2025-02-28 01:30
  

  French GDP growth for Q4 2024 was confirmed at -0.1% QoQ, but the annual rate was revised down slightly by -0.1 ppts to 0.6% YoY.

  • Household consumption was revised down by -0.1 ppts to 0.3% QoQ.
  • Exports growth saw a sizeable of +0.6 ppts to 0.4% QoQ with the net foreign trade contribution revised up from -0.2 ppts of growth to 0.0 ppts.
  • Offsetting the upward revision in trade, was a downward revision in the contribution from inventory from -0.1 ppts to -0.3 ppts.

  Source
• France GDP: Q4 2024 (Preliminary) 2025-01-30 01:30
  

  French GDP fell -0.1% QoQ in Q4 2024, below the consensus estimate that there would be no growth. Household consumption expanded 0.4% QoQ after a solid 0.6% QoQ growth in Q3. GFCF was negative for the fourth straight quarter at -0.1% QoQ. Government consumption grew 0.4% QoQ and was the component of GDP that saw the fastest growth over the course of 2024. With exports falling -0.2% QoQ and imports up 0.4% QoQ, net foreign trade made a -0.2 ppts contribution. Inventory changes was also a drag at -0.1 ppt.

  The growth of goods and services output slowed to 0.1% QoQ, weighed down particularly by construction (-0.9% QoQ). Goods (+0.1% QoQ) and market services (+0.1% QoQ) saw slower growth in Q4 while non-market-services saw the fastest growth at 0.4% QoQ. Consumption was the primary driver of GDP growth, especially manufactured goods consumption which was up 0.9% QoQ.

  In 2024, GDP growth was 1.1%, the same pace that was seen in 2023. Household consumption (+0.9%) and government consumption (+2.1%) drove growth in 2024 while the business sector was a drag with GFCF down -1.5%. Investment fell back sharply (-1.5%), with a more pronounced decline in investment in construction (-2.5%), and a sharp downturn in investment in manufactured goods (-4.5%).

  Source