Analysis of Changes in GDP and its Main Components
Household consumption rebounded in the third quarter, with a growth rate of 0.6% after falling 0.1% in the previous quarter, driven by higher consumption of goods, particularly food and manufactured goods.
The growth rate of gross fixed capital formation (GFCF) slowed down, increasing only by 0.2% in the third quarter after a growth of 0.5% in the second quarter, mainly due to the further decline in GFCF in construction, which fell by 0.2% in the previous quarter and 0.8% in this quarter respectively.
In;the third quarter of 2023, the overall deficit of the Government of France rose by 0.4% of GDP, which was 4.8% of GDP, compared to 4.4% in the second quarter of 2023. Public spending rebounded while public revenue fell again. The fall in revenue was due to lower income tax, particularly corporation tax.
Table: France GDP Quarterly Percentage Changes (%)
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