23 November 2001, 13:28 French 3Q GDP Surprises On the Upside
+0.5% Q/Q, +2.0% Y/Y, at
the top end of forecasts (median +0.3%), though 2Q revised down to +0.2%
from +0.3%. 3Q growth was led by very strong private consumption (+1.2%
Q/Q) and government spending (+0.8%), while investment rose only
slightly (+0.1%). Inventories declined more than in 2Q, subtracting from
3Q GDP, while net exports were flat. A sharp contrast to the weak German
GDP reported Thursday. However, unclear given decline in consumer
confidence and rising unemployment whether consumer spending will hold
up in period ahead.
© 1999-2024 Forex EuroClub
All rights reserved