2017.12.2203:50:00UTC+00France Q3 GDP Growth Revised Up

France's economy grew more than than previously estimated in the third quarter, detailed figures from the statistical office Insee showed Friday.

Gross domestic product grew 0.6 percent sequentially, instead of 0.5 estimated previously. The economy had expanded by 0.6 percent each in the previous two quarters.

The expenditure-side breakdown of GDP showed that growth in household consumption expenditure accelerated to 0.6 percent from 0.3 percent.

Gross fixed capital formation expanded 0.9 percent, but slower than the 1.1 percent rise seen a quarter ago.

All in all, final domestic demand excluding changes in inventories increased, contributing +0.6 points to GDP growth in the third quarter.

The foreign trade balance contributed negatively to GDP growth by ?0.6 points. Conversely, changes in inventories contributed positively to GDP growth, by +0.5 points.

In a separate communique, the Insee said household spending grew the most in 12 years in November.

The Maastricht debt decreased EUR 5.5 billion from the previous quarter to EUR 2.22 trillion at the end of the third quarter of 2017, Insee reported. It accounted for 98.1 percent of GDP.

Household consumption climbed 2.2 percent in November, reversing a revised 2.1 percent fall in October. This was the biggest monthly growth since November 2005, when consumption advanced 2.5 percent.