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FRANCE DATA: Q3 Flash GDP One Tenth Above Consensus Boosted By Olympics

FRANCE DATA
Data BulletEurozoneCEEMEAFranceBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

France Q3 Flash GDP was one tenth higher than expected at 0.4% Q/Q (vs 0.3% consensus, 0.2% in Q2), and 1.3% Y/Y (vs 1.2% consensus, 1.0% prior).

  • The press release notes this is "stimulated by the Paris Olympics and Paralympic Games...whose ticket sales revenue and audiovisual broadcasting rights are recorded in national accounting at time of the sporting event".
  • Foreign trade growth is estimated to have contributed 0.1% in the third quarter (vs 0.2% in Q2), with imports falling sharply by 0.7% Q/Q (vs growth of 0.1% in Q2), and exports falling to a lesser extent by 0.5% Q/Q (vs growth of 0.5% in Q2).
  • Final domestic demand excluding stocks contributed 0.2% in Q3 (vs 0.1% in Q2), and stock variations contributed 0.1% from a flat contribution in both Q1 and Q2.
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France Q3 Flash GDP was one tenth higher than expected at 0.4% Q/Q (vs 0.3% consensus, 0.2% in Q2), and 1.3% Y/Y (vs 1.2% consensus, 1.0% prior).

  • The press release notes this is "stimulated by the Paris Olympics and Paralympic Games...whose ticket sales revenue and audiovisual broadcasting rights are recorded in national accounting at time of the sporting event".
  • Foreign trade growth is estimated to have contributed 0.1% in the third quarter (vs 0.2% in Q2), with imports falling sharply by 0.7% Q/Q (vs growth of 0.1% in Q2), and exports falling to a lesser extent by 0.5% Q/Q (vs growth of 0.5% in Q2).
  • Final domestic demand excluding stocks contributed 0.2% in Q3 (vs 0.1% in Q2), and stock variations contributed 0.1% from a flat contribution in both Q1 and Q2.