France Q3 GDP growth strongest since Q4 2023

The French economy has expanded at the fastest quarterly rate since Q4 of 2023 in the third quarter of 2024, preliminary data showed.

France’s GDP grew 0.4% quarter-on-quarter in Q3, while picking up from a 0.2% growth in Q2.

The latest figure also outstripped market consensus of a 0.3% growth.

Household consumption rose 0.5% quarter-on-quarter in Q3 after being flat in Q2, as purchases of goods rebounded following three straight quarters of decline.

Consumer spending on information services also picked up in Q3.

Government spending continued to increase, by 0.5% quarter-on-quarter, after another 0.5% rise in Q2.

In the meantime, a drop in fixed investment quickened, by 0.8% in Q3 compared to a 0.1% fall in Q2, as a result of a further decrease in investment for manufactured goods.

In annual terms, the French economy expanded 1.3% in the third quarter.

The Euro was 0.21% firmer on the day against the US Dollar, with the EUR/USD currency pair last trading at 1.0840.