France's Q2 GDP Growth Steady At 0.2%


France's economy grew at a steady pace in the second quarter, the statistical office Insee said Friday.

Gross domestic product grew 0.2 percent sequentially, the same pace of growth as seen in the second quarter.

The expenditure-side breakdown of GDP showed that household spending dropped slightly by 0.1 percent, reversing a 0.2 percent rise, whereas growth in total gross fixed capital formation accelerated to 0.7 percent from 0.1 percent.

Overall, final domestic demand excluding inventory changes contributed 0.2 points to GDP growth, the same as in the first quarter.

Imports rebounded 1.7 percent after falling 0.3 percent. Likewise, exports climbed 0.6 percent versus a 0.4 percent drop a quarter ago. All in all, foreign trade balance contributed negatively to GDP growth, by 0.3 points, after a neutral contribution in the first quarter.

Conversely, changes in inventories boosted GDP growth, by contributing 0.3 points.