The French GDP shrank 1.3 percent quarter-on-quarter in Q4 2020, compared with market consensus of a 4.0 percent fall and after a record growth of 18.5 percent in Q3, preliminary data showed. The contraction reflected a second COVID-19 lockdown and curfews, which took place from the end of October to mid-December. There were falls in both household consumption (-5.4 percent vs 18.2 percent in Q3) and government spending (-0.4 percent vs 14.6 percent), while fixed investment growth slowed sharply (2.4 percent vs 24.0 percent). Meantime, exports expanded by 4.8 percent, while imports rose at a softer 1.3 percent. For full 2020, the economy contracted 8.3 percent, better than an 11 percent plunge the government had forecast in its budget plans, and following a 1.5 percent expansion in 2019. source: INSEE, France
GDP Growth Rate in France averaged 0.75 percent from 1949 until 2020, reaching an all time high of 18.50 percent in the third quarter of 2020 and a record low of -13.80 percent in the second quarter of 2020. This page provides the latest reported value for - France GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Growth Rate in France is expected to be -2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in France to stand at 1.10 in 12 months time. In the long-term, the France GDP Growth Rate is projected to trend around 0.60 percent in 2022, according to our econometric models.