França Taxa de Crescimento do PIB

The French economy grew by 0.2% qoq in Q1 of 2024, above market forecasts and Q4's figures of 0.1%, preliminary data showed. It was the strongest pace of quarterly expansion since Q2 of 2023, amid strong contribution from final domestic demand (0.4 ppts). Household consumption accelerated (0.4% vs 0.2% in Q4), due to stable purchases of goods (0.1% vs -0.5%) and an upturn in energy consumption (0.7% vs -2.3%). Also, government spending rose further (0.6% vs 0.5%). Fixed investment rebounded (0.3% vs -0.9%), linked to a bounce back in manufactured goods (0.8% vs -1.1%), namely transport equipment; and in market services (0.5% vs -0.8%), particularly communication. Meanwhile, net trade did not contribute to the GDP, with imports growing by 0.2% (vs -2.3% in Q4) and exports adding 0.5% (vs 0.4%). The contribution of inventory changes stayed negative (-0.2% vs -0.9%). Yearly, the economy expanded 1.1% in Q1, exceeding consensus of 0.9% and pointing to the strongest rise in three quarters.