French Economic Growth Slows In Q2

Sep 28, 2007 - The French economic growth slowed to 0.3% sequentially in the second quarter, a revised report from the statistical office INSEE showed Friday. The report confirmed the preliminary estimate. The economy expanded 0.6% in the first quarter.

Household expenditure improved 0.6%, slightly larger than the 0.5% growth seen in the first quarter. Household expenditure contributed 0.3 point to GDP growth. Total gross fixed capital formation growth eased to 0.4%, contributing 0.1 point to GDP growth.

Exports climbed at a slower pace of 0.9% compared to 1.4% in the prior quarter. Meanwhile, imports were up 1.9%, following a 0.6% rise in the first quarter. The net foreign trade contributed minus 0.3 point to GDP growth. Inventory changes contributed 0.1 point to GDP growth, after showing minus 0.2 in the previous quarter.