France's economy grew 0.2% in the second quarter of 2024, official data from the country's statistics office INSEE showed today, revising down the preliminary figure of 0.3% published in July.
French exports grew moderately at 0.4% following a 0.6% increase in the previous quarter, while imports saw a slight uptick in the second quarter driven by a surge in energy, water, waste and agri-food products, according to INSEE.
The statistics office added foreign trade made a positive contribution to France's GDP growth in the second quarter.
Meanwhile, French consumer price inflation eased in August compared to a year ago, mainly due to lower petroleum product prices and electricity costs, preliminary data from statistics agency INSEE showed today.
France's EU-harmonised inflation, which enables comparisons with other euro zone countries, rose 2.2% year-on-year in August compared to 2.7% a year earlier, while economists polled by Reuters had expected a rise of 2.1% on average.
Over the year, electricity prices fell due to a base effect, while service prices rose, particularly in accommodation and transport, INSEE said.
Prices for food, manufactured goods and tobacco rose at the same rate as in the previous month, the agency added.
The consumer price index (CPI) - inflation calculated according to French standards - rose by 1.9% for the 12 months to August compared to a revised number of 2.3% in July.
