The French economy is growing by 0.5% in Q2

29 Aug 2017 01:24 PM

The French economy, the second largest economy in the euro area, grew in the second quarter of 2017, driven by foreign trade and consumer spending. GDP grew by 0.5% on a quarter-on-quarter basis, confirming a preliminary reading.
Consumer spending grew by 0.3% in the second quarter, while investment grew by 0.7% compared to initial estimates of 0.5% growth.
In a separate report, household spending rose by 0.7% on monthly basis in July, driven by recovery in purchases of durable goods and cloths, which rose by 0.9% and 3.1%, respectively. The recovery of activity is likely to facilitate the implementation of economic reforms by the new government and the implementation of the budget.

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