PARIS: The pace of growth of the French economy slowed slightly in the third quarter, according to a preliminary reading on the country’s gross domestic product.
The eurozone’s second-biggest economy grew 0.5 per cent quarter on quarter in three months ended September, down slightly from 0.6 per cent in the second. Still, Claus Vistesen, economist at Pantheon Macroeconomics, noted that “these initial data are subject to significant revisions, but they paint a picture of a French economy with growth comparable to that of Germany.”He added: “This is not something we have been able to say for a long time.” The pace of growth matched economists’ expectations and reflects economic stability has mostly held in the early months of Emmanuel Macron’s presidency. The rate of household consumption expenditure rose 0.5 per cent, from 0.3 per cent in the previous quarter. However, export growth decreased to 0.7 per cent from 2.5 per cent in the second quarter, realising expectations that a stronger euro might eat into the country’s trade.
