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French 3Q GDP up 0.8 percent, instead of previously reported 0.7 percent

French 3Q GDP up 0.8 percent, instead of previously reported 0.7 percent

France's economy, the euro zone's second largest, grew by 0.8 percent in the third quarter, the national statistics agency said Friday, raising a previous provisional estimate of 0.7 percent growth for the period.
French gross domestic product growth in the three months to Sept. 30 outstripped the second-quarter increase of 0.3 percent. Year-on-year, GDP grew 2.2 percent in the third quarter, up from an annualized 1.4 percent in the second quarter.
Exports outpaced imports, with growth of 1.5 percent and 1 percent on the quarter, respectively. That reversed a second-quarter trend, when exports increased 0.7 percent and imports were up 1.8 percent, the Insee statistics agency said.
Foreign trade made a positive contribution of 0.1 percentage point in GDP growth in the third quarter, after denting it by 0.3 percentage point in the second quarter.
Growth in the fourth quarter is still expected to slow. Last month, the central bank lowered its fourth-quarter growth forecast to 0.5 percent from 0.6 percent. That brought its average annual growth estimate for 2007 down to 1.9 percent, lower than the government's 2-2.5 percent growth estimate.


Updated : 2020-12-04 05:18 GMT+08:00