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France’s GDP stagnates, missing estimates in Q2

by ChemOrbis Editorial Team -
  • 14/08/2015 (11:32)
According to data released by the country’s official statistical office INSEE, France’s economy remained stagnant in the second quarter of 2015, missing analysts’ initial forecast of 0.2% growth. The lack of growth in the economy was attributed to companies selling down their inventories in the second quarter.

Consumer spending growth declined sharply to a 0.1% increase in the second quarter from a 0.9% increase in the first quarter due to lower spending on energy and higher temperatures. Exports increased 1.7% in the April-June period after rising by 1.3% in the first quarter. Corporate investment, meanwhile, rose by 0.2% in the second quarter, posting their highest level since 2008.
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