In the first quarter of 2023, the French economy showed slight growth, beating analysts’ expectations. The euro zone’s second-largest economy expanded by 0.2% in the first three months of the year, following a 0.1% growth in the previous quarter, according to INSEE’s quarterly GDP report.
Household spending growth for the quarter accelerated to 0.4%, up from 0.2% in the fourth quarter of 2023. A Reuters poll of 29 economists had, on average, predicted a 0.1% growth in GDP for the first quarter, with estimates ranging from 0.0% to +0.2%. The positive growth in the French economy indicates a modest recovery and suggests some resilience in the face of economic challenges.
According to preliminary data from INSEE statistics agency, France’s economy grew slightly in Q1 exceeding analysts’ expectations. The euro zone’s second-largest economy expanded by 0.2% in Q1 after experiencing a 0.1% growth in Q4 of 2023 as per INSEE’s latest report on GDP.
Furthermore, household spending growth for Q1 accelerated to 0.4%, up from 0