French GDP in volume falls 0.1% in Q4 2024 after a 0.4% rise in Q3

Final domestic demand (excluding inventories) slowed slightly to 0.4 per cent in Q4 2024 after 0.6 per cent in Q3, driven by household consumption.

Gross fixed capital formation was virtually stable.

Overall, domestic demand (excluding inventories) made a positive contribution to GDP growth in the quarter.

The contribution of foreign trade to growth was again negative in Q4 2024: exports fell again in the quarter by 0.2 per cent after a 0.8-per cent drop in Q3, while imports rebounded by 0.4 per cent after a 0.4-per cent drop in Q3.

Finally, changes in inventories made a negative contribution to GDP this quarter after a positive one in Q3.

On an average across 2024, GDP increased by 1.1 per cent after a 1.1-per cent rise in 2023 and a 2.6-per cent rise in 2022.

Production in manufacturing picked up slightly in Q4 2024: by 0.2 per cent after a 0.3-per cent drop in Q3.

Overall, output slowed slightly (plus 1.4 per cent after plus 1.7 per cent in 2023) in 2024 due to the fall in manufactured goods.

Overall in 2024, imports fell (minus 1.1 per cent after plus 0.7 per cent in 2023), while exports slowed (plus 1.6 per cent after plus 2.5 per cent in 2023).

As a result, the annual contribution of foreign trade to GDP growth stayed positive, rising to 0.9 points in 2024.

ALCHEMPro News Desk (DS)