France economy rebounds in 2013 Q4; GDP growth at 0.3 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Paris, France (4E) – France’s economy swung back to expansion in the last quarter of 2013, according to data from the statistical office Insee released Monday.

The country’s gross domestic product (GDP) rose 0.3 percent in the fourth quarter, after contracting 0.1 percent in the previous three months. The reading was in line with economists’ preliminary estimate.

Household consumption grew 0.4 percent after staying flat in the previous quarter. Meanwhile, government spending inched up 0.5 percent from 0.3 percent.

For the first time since end-2011, gross fixed capital formation saw an increase, rising 0.5 percent in the quarter ended Dec. 31.

Exports climbed 1.3 percent, which is a reversal of the 1.1 percent decline in the earlier quarter. Imports grew slower to 0.7 percent from 0.9 percent. The foreign trade balance contributed 0.2 points to overall economic activity. Meanwhile, the impact of inventories contributed negative 0.3 points.

For the full year 2013, GDP gained 0.3 percent following a stagnation in the previous year.

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