The French economy expanded as expected in the third quarter of 2014, detailed results from the statistical office Insee showed Tuesday. The Maastricht debt of France increased further in the third quarter.
Gross domestic product increased 0.3 percent sequentially following a slight decline of 0.1 percent in the second quarter. The figures matched the estimate released on November 14.
On the expenditure side, households' consumption expenditure kept increasing, up 0.3 percent. General government expenditure increased by 0.6 percent after +0.4 percent rise in the prior quarter.
Total gross fixed capital formation dropped again, by 0.6 percent after easing 0.8 percent. Thus, final domestic demand improved, contributing +0.2 points to GDP growth.
Imports gained 1.3 percent, while exports grew only 0.5 percent. Foreign trade balance contributed -0.2 points, as in the previous quarter. Conversely, changes in inventories contributed positively by +0.3 points.
Another report from the statistical office today showed that the Maastricht debt accounted for 95.2 percent of GDP at the end of the third quarter of 2014, up from 95.1 percent in the second quarter.
Debt totaled EUR 2.03 trillion, a GBP 7.8 billion increase from the previous quarter.
At the end of third quarter, the net public debt reached EUR 1,831.9 billion, equivalent to 85.8 percent of GDP versus 85.1 percent in the second quarter.
The material has been provided by InstaForex Company – www.instaforex.com