France GDP grew 18.2% qoq in Q3, better than expectation of 15.0% qoq. That’s more than enough to recover the -13.7% qoq contraction in Q2. Yet, GDP remained well below the level it had before the pandemic. Comparing to Q3 2019, GDP was -4.3% yoy lower.
All components of domestic demand rebounded sharply, with household consumption up 17.3% qoq. General government consumption expenditure rose 15.4% qoq. GFCF rose 23.3% qoq. Exports rose 23.2% qoq. Imports rose 16.0% qoq.
Also from France, CPI came in at -0.1% mom, 0.0% yoy, versus expectation of -0.2% mom, 0.1% yoy.