23.06.201705:42:00UTC+00France's Q1 GDP Growth Revised Up

The French economy expanded more than previously estimated in the first quarter, detailed report from the statistical office Insee showed Friday.

Gross domestic product grew 0.5 percent sequentially, revised up from 0.4 percent estimated previously. The pace of growth thus matched the rate seen in the fourth quarter of 2016.

Household spending was at a standstill in the first quarter after rising 0.6 percent. Meanwhile, growth in gross fixed capital formation improved to 1.2 percent from 0.7 percent.

Exports fell back 0.7 percent after rising 1.1 percent, meanwhile, imports growth doubled to 1.2 percent from 0.6 percent. As a result, the foreign trade balance contributed -0.6 points to GDP.

Conversely, changes in inventories contributed positively by +0.7 points.