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GDP grew 3% in Q3 and returned to its pre-crisis level

2021-11-30T08:23:52.526Z


INSEE notes a sharp acceleration in household consumption expenditure. France's gross domestic product (GDP) is almost back to its pre-crisis level. It jumped 3% in the third quarter (after + 1.3% in the previous quarter), according to figures from INSEE released on Tuesday. It is only 0.1% of its level at the end of 2019, before the Covid-19 health crisis broke out. Read also Bercy lowers its deficit forecast for 2021 to 8.1% of GDP, thanks to better growth In det


France's gross domestic product (GDP) is almost back to its pre-crisis level.

It jumped 3% in the third quarter (after + 1.3% in the previous quarter), according to figures from INSEE released on Tuesday.

It is only 0.1% of its level at the end of 2019, before the Covid-19 health crisis broke out.

Read also Bercy lowers its deficit forecast for 2021 to 8.1% of GDP, thanks to better growth

In detail, INSEE notes a sharp acceleration in household consumption expenditure (+ 5% after + 1.3% in the previous quarter), which "

contributed + 2.5 points to GDP growth this quarter

".

For their part, exports progressed (+ 2.3% after + 1.2%), while imports remained stable (+ 0.1% after + 1.7%).

If foreign trade remains "

largely down

" compared to the fourth quarter of 2019 (before the crisis), its contribution to GDP growth is positive this quarter, underlines INSEE: +0.6 point, after –0.2 point in the previous quarter.

Source: lefigaro

All news articles on 2021-11-30

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