The French economy experienced slight growth in the first quarter of 2023, beating analysts’ expectations. The euro zone’s second-largest economy rose by 0.2% in the first three months of the year, following a 0.1% growth in the previous quarter, as reported in the quarterly GDP report by INSEE.
Household spending growth also accelerated in the first quarter, rising to 0.4% from 0.2% in the fourth quarter of 2023. A Reuters poll of 29 economists had forecasted an average growth of just 0.1% in GDP for the first quarter, with estimates ranging from 0.0% to +0.2%.
This positive growth trajectory is a promising sign for the French economy as it navigates ongoing challenges and uncertainties in the global economic landscape. Overall, France’s performance in the first quarter was on track with expectations, showing slight growth and outperforming analysts’ predictions.
