Economic Buzz: French GDP Growth Revised Higher At 18.7% In September Quarter

Economic Buzz: French GDP Growth Revised Higher At 18.7% In September Quarter

Nov 27, 2020 04:11 IST capital market

The French economy rebounded in the third quarter, revised data from the statistical office Insee showed on Friday. Gross domestic product jumped 18.7% on a quarterly basis, which was revised up from 18.2% estimated previously. The expansion was in contrast to a 13.8% fall seen in the second quarter. The third quarter GDP was 3.9% lower than in the same period last year. The rate was revised from -4.3%. All components of domestic demand rebounded sharply in the third quarter. Household spending surged 17.9% and government consumption climbed 15.5%. Gross fixed capital formation grew 23.9% on quarter.

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