The French economic growth accelerated at a faster-than-expected pace in the first quarter, the statistical office Insee showed Wednesday.
Gross domestic product grew 0.6 percent in the three months ended March, exceeding economists’ expectations for a 0.4 percent climb, after showing no variations in the previous quarter.
In the first quarter, total domestic demand increased and it contributed +0.5 points to GDP growth. In the same period of the previous year, it was only +0.1 points.
Production in goods and services rose by 0.7 percent after a stagnation at the end of the previous year. Output in the manufactured goods quickened markedly, due to the increased production in transport equipment.
Household consumption expenditure accelerated strongly in the three-month period to March, while total gross fixed capital formation decreased further by 0.2 percent.
Exports increased at a slower pace of 0.9 percent, following a 2.5 percent rise in the December quarter, At the same time, imports climbed at a faster pace of 2.3 percent in the first quarter.
The material has been provided by InstaForex Company – www.instaforex.com