France’s official growth rate in the third quarter was upgraded on Friday, rounding out a day of good news for the Gallic economy as consumer spending also rebounded.
After its preliminary estimate at the end of October suggest French gross domestic product rose 0.5% in the July-September period, Insee - France's official data agency - revealed quarter-on-quarter growth of 0.6%.
This meant the French economy maintained the momentum of the May-June period, in which the quarterly growth rate was also 0.6% and - more importantly - signaled an optimistic outlook for the fourth quarter.
The upgrade came as Insee gathered further data since the preliminary reading that showed growth in household consumption.
Indeed, also published by Insee on Friday, data showed household consumer spending rebounded strongly in volume at the end of 2017.