France’s GDP grows 0.2% in q1 ’24

France’s Gross Domestic Product (GDP) experienced a moderate increase of 0.2 per cent in Q1 2024, following a 0.1 per cent rise in the previous quarter, according to the National Institute of Statistics and Economic Studies Tuesday’s data.

This growth was largely driven by a rebound in final domestic demand (excluding inventories), which contributed positively to GDP growth this quarter by 0.4 points, due to an acceleration in household consumption of 0.4 per cent and a rebound in gross fixed capital formation (GFCF) of 0.3 per cent.

However, the contribution of foreign trade to GDP growth fell to zero in Q1 2024, with imports slightly rising by 0.2 per cent and exports increasing by 0.5 per cent. The contribution of inventory changes to GDP growth was negative again this quarter, standing at -0.2 points.