French GDP grew 0.3% qoq in Q4, matched expectations. Over the year, growth slowed to 1.5% in 2018, down from 2.3% in 2017. Looking at the details, final domestic demand excluding inventory changes decelerated: it contributed 0.2 points to GDP growth, after 0.5 points in the previous quarter. Foreign trade balance contributed positively to GDP growth again: +0.3 points, after +0.2 points in Q3. Conversely, changes in inventories contributed negatively to GDP growth again (−0.2 points after −0.4 points).
