The French economy returned to growth in the third quarter, but it’s far from formidable
The French economy grew again in the third quarter of this year, after contracting in the second quarter – suggesting things are beginning to look up across the Channel.
Figures from French statistics authority Insee showed GDP grew 0.2 per cent between July and September, up from a 0.1 per cent contraction in the quarter before.
Imports were up 2.2 per cent, from a fall of 1.7 per cent in the previous quarter, while exports rose 0.6 per cent, up from growth of 0.2 per cent in the second quarter.
Meanwhile, separate figures showed inflation in France stuck at 0.5 per cent in October, missing expectations of 0.6 per cent.
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Analysts were far from impressed by the figures, with Societe Generale's Kit Jules calling the GDP rise "softish".
"The details of the release were disappointing," added analysts at Daiwa Capital Markets.
"In the absence of a particularly large positive contribution from stock accumulation, the French economy would have contracted for the second successive quarter." Not the ideal way to restore confidence in President Francois Hollande before next year's presidential election.