French economy expanded 0.4% in Q3, INSEE says
Published On :
PARIS (Reuters) -French economic growth beat estimates by accelerating by 0.4% in the third quarter 2024 from 0.2% in the second quarter because of impact of the Paris Olympic Games, preliminary data from statistics agency INSEE showed on Wednesday.
Economists polled by Reuters had an average forecast of 0.3% for third quarter gross domestic product (GDP) growth.
An influx of tourists attending the Paris Olympics boosted consumer spending in the euro zone’s second-biggest economy, which grew 0.5% in the third quarter after a flat performance in the second quarter.
This preliminary estimate is in line with expectations provided by INSEE in September when it trimmed its forecast for French third quarter Gross Domestic Product growth to 0.4% from 0.5% previously.
After weeks of struggling to find a new prime minister, President Emmanuel Macron named conservative political veteran Michel Barnier in September, who now faces the difficult task of getting the 2025 budget approved and bringing down the deficit in the deeply divided post-election parliament.
(Reporting by Dominique Vidalon; Editing by Christian Schmollinger and Lincoln Feast.)
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
