France’s Q1 GDP growth came in at a modest 0.2% qoq, slightly outperforming market expectations of 0.1% qoq.
Final domestic demand (excluding inventories) contributed negatively to GDP growth, albeit less so than in the previous quarter (-0.1 points in Q1 2023 after -0.4 points). This was due to household consumption stabilizing (0.0% after -1.0%), while gross fixed capital formation (GFCF) experienced a minor decline (-0.2% after 0.0%).
In contrast, foreign trade provided a positive contribution to GDP growth (+0.6 points after +0.2 points). Imports decreased this quarter (-0.6% after +0.1%), while exports remained strong (+1.1% after +0.9%).
Lastly, the contribution of inventory changes to GDP growth was negative this quarter (-0.3 points after +0.2 points in Q4 2022).
%20contributed%20negatively%20to%20GDP%20growth,%20albeit%20less%20so%20than%20in%20the%20previous%20quarter%20(-0.1%20points%20in%20Q1%202023%20after%20-0.4%20points).%20This%20was%20due%20to%20household%20consumption%20stabilizing%20(0.0%%20after%20-1.0%),%20while%20gross%20fixed%20capital%20formation%20(GFCF)%20experienced%20a%20minor%20decline%20(-0.2%%20after%200.0%).){kind=link}