2019.05.2904:51:00UTC+00France Growth Slows In Q1 After Revision

France's economic growth eased slightly in the first quarter after revision, detailed results from the statistical office Insee showed Wednesday.

Gross domestic product grew 0.3 percent sequentially, in line with the estimate released on April 30, but slightly slower than the revised 0.4 percent expansion seen in the fourth quarter of 2018.

The statistical office revised up its fourth quarter growth rate from 0.3 percent. The expenditure-side breakdown of GDP showed that household consumption grew 0.4 percent after the 0.3 percent increase in the fourth quarter. Meanwhile, growth in government spending halved to 0.2 percent from 0.4 percent.

The increase in gross fixed capital formation came in at 0.5 percent versus 0.6 percent a quarter ago.

Exports and imports climbed 0.4 percent and 1.4 percent, respectively. Consequently, foreign trade balance contributed negatively to GDP growth by -0.3 points.

In a separate communiqu?, Insee said household spending increased in April after falling for two straight months, driven by a rebound in energy and food consumption.

In April, household spending grew 0.8 percent on month after declining 0.3 percent in March and 0.5 percent in February.