2021.08.3112:40:00UTC+00France Q2 GDP Rises More Than Estimated

The French economy expanded more than initially estimated in the second quarter, revised data from the statistical office showed on Tuesday.

Gross domestic product grew 1.1 percent sequentially, instead of 0.9 percent estimated on July 30. GDP was flat in the first quarter and down 1.1 percent in the fourth quarter of 2020.

GDP stood 3.2 percent below its level in the fourth quarter of 2019, as compared to 4.3 percent in the last two quarters.

The expenditure-side breakdown showed that final domestic demand, excluding inventory changes, made a positive contribution to GDP growth in the second quarter.

In particular, gross fixed capital formation accelerated significantly by 2.4 percent after rising 0.4 percent and exceeded its pre-crisis level for the first time.

Household's consumption expenditure rebounded 1.0 percent after staying flat a quarter ago.

Imports grew 1.7 percent and exports climbed 1.0 percent. Therefore, foreign trade contributed negatively to GDP growth by 0.2 points.

Lastly, inventory changes contributed positively to GDP growth by +0.1 points in the second quarter.