French economy grows at 0.4 pct in Q3

15:06 | 01/11/2018 Global Economy

France, the eurozone second-biggest economy, posted quarterly growth of 0.4 percent for the third quarter thanks to boosted households consumption and dynamic investment, the country's main growth engines, national statistics institute Insee said on Tuesday.

French Budget Minister Gérald Darmanin - Photo: Getty Images

Compared with 0.2 percent rise in the country's gross domesic product (GDP) in the second quarter, French economy eked more growth for the July-September period, but the figure was below an initial estimate of 0.5 percent.

The data showed that the third quarter's performance was marked by 0.5 percent increase in consumer spending, compared with 0.1 percent fall a quarter earlier as households spent more to buy manufactured goods.

In its first estimate, Insee saw dynamic investment after reporting 1.4-percent growth over the period, up from 1.3 percent in the second quarter of the year.

Exports grew much faster than imports, which meant that foreign trade contributed positively to GDP with 0.1 point.

Theo Xinhua