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France: GDP grew by 0.3% in the first quarter (INSEE) – Xinhua



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PARIS, May 30 (Xinhua) – The gross domestic product (GDP) of France rose by 0.3% in the first quarter of 2019, according to data provided Tuesday by the National Institute of Statistics and Economic Studies (INSEE).

Domestic consumption costs rebound (+ 0.4% + 0.0% after) in consumption of recovered (+ 0.2% -0.6% after) and services remain strong (0, 5% after 0.6%), due to conducts residential and catering services NISY said.

As for the property, a retreat in the cost of manufactured goods (0.8% after -1.2%) due to an increase in car sales. Energy costs are rising (+ 0.9% after -0.3%) due to the increase in fuel costs, while food costs down at a faster pace than in the previous quarter (- after 1.0% -0.2 %).

In the first quarter of 2019, gross fixed capital formation (GFCF) slightly slowed down (+ 0.3% after + 0.4%) and corporate investment accelerated slightly (+ 0.5% after + 0.4%) growth in car purchases enterprises virtually offset by lower costs for information and communication, and business services. By contrast, the household investment continued to decline, partly because of new housing over three quarters (-0.3% in the first quarter of 2019, after -0.2% and -0.1%).

In general, the final internal demand except stocks accelerated bit: it promotes the growth of GDP to 0.3 points after 0.2 points in the previous quarter.

Imports slowed down slightly in the first quarter of 2019 (+ 0.9% after 1.2%), in particular in connection with the reduction of capital goods, INSEE said, adding that exports recorded after time dynamic fourth quarter of 2018 (+ 0 1% to 2.2%).

In general, the external balance contributed negatively to GDP growth: -0.3 points after 0.3 points in the previous quarter. Conversely, changes in inventory positive contribution (0.3 -0.1 points after point).

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