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MNI: FRANCE DATA: Flash GDP (Q2 2019) ...............>

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MNI: FRANCE DATA: Flash GDP (Q2 2019) 
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- The French economy grew by 0.2% q/q in Q2, falling just short of the market
consensus which looked for growth to maintain its Q1 pace (+0.3%)
- This left the annual rate at 1.3% y/y, up slightly from 1.2% in Q1 on
favourable base effects
- The expenditure breakdown reveals that quarterly growth was broad-based, with
the only -ve contribution coming from a inventory changes (-0.2pp)
- Household consumption grew for a fourth successive quarter, although the pace
of growth halved from Q4's 0.4% 
- While growth decelerated by 0.1pp to 0.2%, government expenditure also
expanded for the fourth quarter in a row
- Gross fixed capital formation (business investment) growth accelerated to 1.2%
(its strongest quarterly performance since Q3-18) from 0.7% in Q1
- Exports grew by 0.2% (unch from Q1) while import growth slowed dramatically
(to 0.1% from 1.1%), resulting in a flat contribution from net trade

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