The French economy grew by 1.1% in the second quarter of 2021

AA / Istanbul

French GDP grew by 1.1% in the second quarter of 2021, on a quarterly basis, after growing 0% in the first quarter of the same year.

The French Institute for Statistics and Economic Studies (Insee) said in a press release, published on Tuesday, that final domestic demand (excluding equities) made a positive contribution to the growth of gross domestic product.

Despite this growth, GDP in the second quarter remained 3.2% lower than the figure it recorded in the fourth quarter of 2019, before the coronavirus pandemic.

France’s GDP had contracted by 8.2% in 2020.

In previous statements by the French Minister of the Economy, Bruno Le Maire, France had revised its growth forecasts downward for the year 2021 to 5%, instead of the 6% initially expected, due to containment measures imposed by the coronavirus pandemic.

According to INSEE, foreign trade contributed negatively to GDP growth, with imports increasing by 1.7%, at a time when exports only increased by only 1%, compared to the first quarter of 2021 .

Household consumption expenditure rebounded by 1% in the second quarter, on a quarterly basis, compared to the stagnation of 0% recorded in the first quarter of 2021.

* Translated from Arabic by Mounir Bennour.


Only part of the dispatches, which the Anadolu Agency broadcasts to its subscribers via the Internal Distribution System (HAS), is broadcast on the AA website, in a summary manner. Please contact us to subscribe.

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.