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France: GDP rose by 0.3% in the first quarter (INSEE) – Xinhua



Paris, April 30 (Xinhua) – France's Gross Domestic Product (GDP) rose by 0.3 percent in the first quarter of 2019, according to data released on Tuesday by the National Statistical and Economic Institute (INSEE). ).

Household consumer spending rose again (+ 0.4% to + 0.0%): consumption of consumed goods (+ 0.2% to -0.6%) and consumption of services remained dynamic (+ 0.0%). 5% to + 0.6%), which is influenced by housing and catering expenses, INSEE said.

As regards goods, the recovery in industrial products (+ 0.8% to -1.2%) is related to the growth in car sales. Energy expenditure rose (by 0.9% to -0.3%) as a result of higher spending on petrol, while food spending fell faster than in the previous quarter (-) 1.0% to -0.2%).

In the first quarter of 2019, gross fixed capital formation (GFCF) slowed slightly (+ 0.3% to + 0.4%) and business investment picked up slightly (+ 0.5% to + 0.4%). ): The growth of corporate car purchases is almost offset by lower spending on information and communication services. By contrast, household investment continues to fall for three quarters, partly in connection with new housing (-0.3% in 2019 to -0.2% and -0.1%).

Total domestic demand excluding inventories accelerated slightly: it contributed to GDP growth by +0.3 points after +0.2 points in the previous quarter.

Imports slightly slowed down in 2019 (+ 0.9% to + 1.2%), mainly in connection with the decline in capital goods, INSEE said, adding that exports refer to the dynamic fourth quarter of 2018 (+ 0.1%). % to + 2.2%).

Overall, the external balance contributes negatively to GDP growth: -0.3 points, to +0.3 points in the previous quarter. On the contrary, changes in inventories (+0.3 points to -0.1 points) were positive.


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