12 February 2010
2010- n° 44French GDP accelerated in Q4 (+0.6% after +0.2%) Quarterly national accounts - second estimate - Fourth Quarter 2009
French GDP increased by 0.6% in the fourth quarter of 2009, after +0.2% in the previous quarter. On the whole year, GDP fell down by 2.2%, the largest drop since World War II.
French GDP increased by 0.6% in the fourth quarter of 2009, after +0.2% in the previous quarter. On the whole year, GDP fell down by 2.2%, the largest drop since World War II.
Households’ consumption expenditures surged
Production’s growth slightly increased (+0.6% after +0.3%). Households’ consumption’s expenditures bounced (+0.9% after +0.1%) whereas total GFCF edged down again (-1.2% after -1.4%). Altogether, total domestic demand (excluding inventory changes) positively contributed to GDP growth : +0.5 points after -0.1 point in the third quarter. Inventory changes buoyantly contributed to activity’s soar : +0.9 points after -0.1 point. This mainly ensued from equipment goods, especially aeronautics. Foreign trade balance deteriorated on the fourth quarter and negatively contributed to GDP growth (-0.7 points after +0.3 points) : exports decelerated (+0.5% after +1.8%), however imports speeded up strongly (+3.3% after +0.3%).
As for annual growth, total production dropped by 3.1%, the strongest decrease in sixty years. Households’ consumption expenditures' growth was steady (+0.8% after +0.9% in 2008) whereas total GFCF slumped by 6.9%, a historical decline. Inventory changes negatively contributed to GDP annual growth : -1.4 points after -0.3 point in the previous year. Eventually, exports flopped by 11.2% : the largest fall previously measured was -3.1% in 1975, and imports slipped by 9.7%, like in 1975 (-9.8%).
* This growth rate is seasonally and trading-day adjusted; volumes are chain-linked previous-year-prices volumes.
graphiqueGraph1 – GDP and its main components
tableauTableau 1 – GOODS AND SERVICES: RESOURCES AND USES CHAIN-LINKED VOLUMES
| 2009 Q1 | 2009 Q2 | 2009 Q3 | 2009 Q4 | 2008 | 2009 | |
|---|---|---|---|---|---|---|
| GDP | -1,4 | 0,3 | 0,2 | 0,6 | 0,3 | -2,2 |
| Imports | -5,8 | -2,6 | 0,3 | 3,3 | 0,6 | -9,7 |
| Households' consumption expenditure | 0,2 | 0,3 | 0,1 | 0,9 | 0,9 | 0,8 |
| General government's consumption expenditure | 0,0 | 0,6 | 0,6 | 0,7 | 1,1 | 1,6 |
| GFCF | -2,4 | -1,0 | -1,4 | -1,2 | 0,4 | -6,9 |
| of which Non financial corporated and unincorporated enterprises | -3,4 | -1,2 | -1,0 | -0,8 | 2,4 | -7,7 |
| Households | -1,7 | -1,6 | -2,3 | -2,7 | -1,4 | -8,1 |
| General government | -0,6 | 0,7 | -1,1 | -0,2 | -4,5 | -3,2 |
| Exports | -7,3 | 0,5 | 1,8 | 0,5 | -0,6 | -11,2 |
| Contributions : | ||||||
| Internal demand excluding inventory changes | -0,4 | 0,1 | -0,1 | 0,5 | 0,9 | -0,6 |
| Inventory changes | -0,7 | -0,6 | -0,1 | 0,9 | -0,3 | -1,4 |
| Net foreign trade | -0,2 | 0,8 | 0,3 | -0,7 | -0,3 | -0,2 |
Pour en savoir plus
Time series : Operations on goods and services
Time series : Gross domestic product balance
Time series : Institutional sector accounts
Time series : Branch accounts
