France Croissance Du Pib

The French economy grew by 0.3% in Q2 2025, up from 0.1% in Q1 and surpassing market expectations of 0.1%, according to flash estimates. This marked the strongest expansion since Q3 2024, largely driven by a 0.5 percentage point boost from inventory accumulation. In contrast, final domestic demand was flat, and net trade dragged on growth. Household consumption edged up 0.1%, rebounding from a 0.3% decline in Q1, supported by increased goods consumption—helped by the Easter holidays and favorable weather—and a pickup in services, particularly in accommodation and catering. Fixed investment contracted further, falling 0.3% after a 0.1% decline in Q1, weighed down by persistent weakness in construction and a drop in GFCF in manufactured goods. Exports rose 0.2% (vs -1.1% in Q1) as firms accelerated shipments to the US ahead of impending tariffs. Imports jumped 0.8% (vs 0.3% in Q1), driven by a sharp rebound in refining activity. On an annual basis, GDP rose 0.7%, up from 0.6% in Q1.