France recorded a 0.1% decline in gross domestic product in the third quarter
France’s GDP fell 0.1% in the third quarter, statistics agency Insee said, as investment continued to decline and exports dropped. The contraction was the economy’s second this year, Anadolu Agency reported, despite stronger household consumption. Analysts surveyed by Bloomberg had expected 0.1% growth.
More context
France’s gross domestic product fell 0.1% in the third quarter, its second quarterly decline this year, as investment continued to decline and exports dropped, according to statistics agency Insee. Household consumption strengthened, Anadolu Agency reported. Bloomberg’s surveyed analysts had projected a 0.1% expansion, making the contraction a surprise. Bloomberg said the result leaves the economy on weak footing amid surging borrowing costs, violent protests and political and budgetary uncertainty.
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Reporting
- Anadolu Agency — French economy contracts 0.1% in 3rd quarter as investment, exports fall
- Financial Times — Subscribe to read
- Bloomberg — French Economy Unexpectedly Shrinks as Headwinds Gain Strength - Bloomberg
Verifier’s note
Anadolu Agency and Bloomberg report that France’s economy contracted 0.1% in the third quarter, and the Financial Times result directly reports the same claim in its headline. The available snippets do not mention the eurozone comparison, but they do not contradict it.