This figure is greater than all the estimates made by analysts and institutions, INSEE had itself conjectured in September only a growth of 2.7%. This is an “exceptional result”, commented on the minister of the economy.
Le Monde with AFP
The Gross Domestic Product Growth (GDP) was 3% in the third quarter of 2021 from the previous quarter, a very high level and exceeding the forecasts, which allows the national wealth to graze its level. From the crisis (- 0.1%), estimated the National Institute of Statistics and Economic Studies (INSEE), Friday, October 29th. “This is a figure that is beyond our expectations,” reacted the Minister of the Economy of the French Republic, Bruno the Mayor, qualifying “exceptional result”.
This 3% growth figure is greater than all estimates made by analysts and institutions, INSEE has itself provided 2.7% in its projection conducted in September. With the reopening of leisure and tourism sectors, household consumption expenditures have greatly accelerated, winning 5% in one quarter, INSEE said.
“France is in the right one. direction “
“This allows us to achieve this exceptional performance: 3% growth in a quarter, it’s never seen for more than fifty years. It’s a performance that will allow us to find our level of now ‘pre-crisis activity, “the minister still congratulated at the microphone of FranceInfo . “We planned to find him at the early end of 2021, maybe early 2022 and we will find our level of activity before crisis. It means that France is in the right direction. It stands up, She stands up quickly and she is straightening Strong, “The Mayor said.
France has also benefited from the increase in its exports (2.3%) while imports are almost stable (- 0.1%), so that the contribution of foreign trade to growth is positive 0.6 point of GDP in the third quarter. The total production of goods and merchant services is largely driven by the services, the activity of the catering hotel leaping by 43.4% over the quarter. On the other hand, the production of manufacturing goods remains 6% below its level of the crisis.
The growth estimate for the second quarter is revised up to 1.3%, again reported INSEE.