2017.03.2403:57:00UTC+00France's GDP Growth Improves As Estimated In Q4

France's economic growth doubled as estimated in the fourth quarter, final data from the statistical office Insee showed Friday.

Gross domestic product grew 0.4 percent sequentially, following third quarter's 0.2 percent expansion. The estimates were left unrevised.

On average over the year, GDP rose by 1.1 percent compared to 1.2 percent in 2015.

On the expenditure side, growth in household consumption expenditure accelerated to 0.6 percent in the fourth quarter from 0.1 percent in previous period. Likewise, gross fixed capital formation grew 0.5 percent versus 0.2 percent a quarter ago.

All in all, final domestic demand excluding inventory changes was more dynamic and contributed more to GDP growth by 0.5 points.

Exports grew at a faster pace of 1.3 percent following a 0.8 percent increase, while imports growth slowed to 0.9 percent from 2.7 percent. All in all, foreign trade balance contributed slightly positively to GDP growth in the fourth quarter, by 0.1 points.

Conversely, changes in inventories contributed negatively by 0.2 points.

Another report from the statistical office showed that the public deficit totaled EUR 75.9 billion in 2016, equivalent to 3.4 percent of GDP versus 3.6 percent in 2015.

As a share of GDP, revenue decreased to 52.8 percent from 53.1 percent. Expenditure went down by 0.5 points, to 56.2 percent.

The Maastricht debt reached 96 percent of GDP at the end of 2016 after 95.6 percent at the end of 2015.