French GDP up by 0.6% in Q1

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Wednesday, May 13 2015

In Q1 2015, French GDP in volume terms increased by 0.6%, after a stability in Q4 2014. Analysts were anticipating 0.4% increase. In the three first months of 2015, household consumption expenditure accelerated (+0.8% after +0.1%) while total gross fixed capital formation (GFCF) decreased again (–0.2% after –0.4%). Overall, total domestic demand (excluding inventory changes) increased: it contributed for +0.5 points to GDP growth (after +0.1 points in Q4 2014).

Exports slowed (+0.9% after +2.5%) while imports accelerated (+2.3% after 1.5%). In fine, the foreign trade balance contributed negatively to activity (–0.5 points after +0.2 points in the previous quarter). Conversely, changes in inventories contributed positively: +0.5 points after –0.3 points at the end of 2014.

Data did not have major impact on the markets which await for German, Italian and Eurozone GDP data, scheduled for a release later today. Pair is currently being traded around 1.1250 area and is likely to find support at 1.12 handle and resistance above 1.13 handle.

More in this category: « China's Industrial Production grew in April German GDP growth slower at the beginning of 2015 »

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