French GDP in volume terms up 0.4% QoQ in Q3 2024

The purchasing power of household gross disposable income (GDI) per consumption unit accelerated.

With household consumption less buoyant than purchasing power, the household savings rate rose slightly: it stood at 18.2 per cent of the GDI after 17.9 per cent in the previous quarter.

The margin rate of non-financial companies (NFCs) bounced back strongly in Q3 2024: it stood at 32.4 per cent of their value added, after 31.2 per cent in the previous quarter.

The general government borrowing requirement deteriorated by 0.6 points and stood at 6.3 per cent of the GDP.

The margin rate of non-financial companies bounced back strongly in Q3 2024: it stood at 32.4 per cent of their value added, after 31.2 per cent in the previous quarter.

Consumption of goods in Q3 2024 recovered slightly by 0.4 per cent after a 0.2-per cent drop in the previous quarter; purchases of textile-clothing increased, an INSEE release said.

However, the gross fixed capital formation (GFCF) continued to fall in Q3 2024—a 0.7-per cent drop after a 0.1-per cent fall in the preceding quarter—as a result of a sharp decline in manufactured goods (minus 4.2 per cent after minus 1.4 per cent).

Overall, the contribution of final domestic demand excluding inventories to GDP growth was positive in Q3 and stood at 0.3 points.

Exports dropped by 0.8 per cent QoQ in Q3 2024 after rising by 0.6 per cent in the previous quarter, penalised by exports of goods.

Imports also fell back in the quarter (minus 0.6 per cent after plus 0.1 per cent), also as a result of goods, but by slightly less than exports.

Overall, the contribution of foreign trade to GDP growth was negative in Q3 2024.

Fibre2Fashion News Desk (DS)