Preliminary data from the INSEE statistics agency showed that the French economy grew slightly in the first quarter, slightly above analysts’ expectations. The eurozone’s second-biggest economy increased by 0.2% in the first three months of the year, following a 0.1% growth in the fourth quarter of the previous year.
Overall, this growth aligns with projections by analysts and the central bank, indicating a positive trend for the French economy. Household spending was a key driver of this growth, rising to 0.4% from 0.2% in the previous quarter. A Reuters poll of 29 economists had predicted an average growth of just 0.1% for GDP in the first quarter, with estimates ranging from -0.2% to +0.3%. However, this data suggests that household spending contributed significantly to economic growth and may indicate further improvement in upcoming quarters. Further analysis is needed to confirm this trend and determine its sustainability over time.
