Tuesday, May 24, 2022

France’s GDP stagnates in Q1 of 2022 – Report

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France’s GDP came to a halt in the first quarter of 2022, posting a 0.0 per cent change, the French National Institute of Statistics and Economic Studies, INSEE, said on Friday.

According to the institute, the stagnation of the country’s GDP is due to the weakness of the domestic demand, which contributed a decrease of 0.6 points to the GDP growth and the deceleration of the gross fixed capital formation (FBCF), which grew only slightly 0.2 per cent.

The contribution of the foreign trade to the GDP was positive with 0.1 points due to an increase in exports by 1.5 per cent compared to imports by 1.1 per cent, the INSEE said.

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The total production of goods and services has increased but at a slower pace due to the epidemic resurgence and the increase of new COVID-19 cases in the first quarter, said the institute.

Xinhua/NAN

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