The French economy grew 0.5% in the third quarter from the previous three months as consumer spending picked up and investment remained robust, the INSEE national statistics agency said on Tuesday in a first estimate.
The result, which was spot in line with a Reuters poll of 27 analysts, meant gross domestic product (GDP) expanded by 2.2% over a year, the fastest pace of growth since 2011.
Upward revisions in the second quarter of this year and the fourth quarter of last year – both by 0.1 percentage point to 0.6% – gave a growth carry-over of 1.7%, the performance for 2017 if growth was zero in the final quarter.
Following the economy’s performance over the first nine months, President Emmanuel Macron’s government should have little trouble surpassing the 1.7% growth forecast it built its budget plans on.
Eurozone GDP: France beats UK with fastest annual growth since 2011 – business live – The Guardian