France Croissance Du Pib

The French economy grew 0.3% qoq in Q2 2025, in line with preliminary estimates, picking up from 0.1% in Q1 and marking the strongest pace in three quarters. Final domestic demand made a modest contribution, with household consumption stagnating after a 0.3% drop previously. A sharp decline in energy spending was offset by a rebound in food and accommodation services. At the same time, government spending rose 0.4%, quickening from a 0.2% gain. Inventories added 0.5ppts to GDP, contributing positively for the second straight period. Meanwhile, fixed investment shrank 0.1% for the second quarter, weighed down by continued weakness in construction and a pullback in transport equipment. Simultaneously, net trade dragged 0.3ppts on growth, as exports rebounded (0.5% vs -1.2% in Q1), helped by firms front-loading shipments to the US ahead of new tariffs. Meantime, imports jumped (1.3% vs 0.4%) on a surge in refining activity. Year-on-year, GDP rose 0.8%, faster than Q1’s 0.6% growth.