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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FRANCE DATA
MNI (London)
FLASH Q2 GDP +0.9% Q/Q SA, +18.7% Y/Y WDA
Q2 HH CONSUMPTION EXPENDITURE +0.9% Q/Q
Q2 GOVT CONSUMPTION EXPENDITURE +0.6% Q/Q
Q2 EXPORTS +1.5% Q/Q; IMPORTS +1.9% Q/Q
- The French economy expanded by 0.9% in Q2 after stagnating in the first quarter of 2021.
- Q2 growth came in stronger than market expectations (median 0.8%).
- Annual GDP rose by 18.7% in Q2 following Q1's uptick by +1.7% and reflecting the sharp decline seen in Q2 2020 at the start of the pandemic.
- Despite the Q2 uptick, GDP remains 3.3% below the level seen in Q4 2019, the last quarter before the pandemic impacted GDP.
- Q2's gain was driven by an increase of government and household spending, up 0.6% and 0.9%, respectively, amid an easing of restrictions and falling infection rates in Q2.
- Meanwhile, exports increased by 1.5% and imports rose by 1.9% in Q2, as a result foreign trade contributed negatively to GDP growth, shaving off 0.1pp.
Source: Insee
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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